INTERNATIONAL

Haircare market to reach $7655.5 million by 2027

The haircare market is expected to grow at a CAGR of 6.6 per cent between 2021 and 2027, from $ 4870 million in 2020 to USD 7655.5 million in 2027. The expansion of the haircare market is being fueled by rising demand for natural haircare products, the adoption of long hair among males, the growing trend of hair colouring as a style statement among millennials, and new product innovations to fulfil the needs of various hair types. Due to increased spending capacity on personal care goods, demand for improved hair colourants in spas, salons, and other such institutions would rise. Because a wide selection of items is available under one roof, eliminating the need to shop in various places, the hypermarkets and supermarkets segment is predicted to be the most profitable. Similarly, the consumer’s capacity to see the item minimises the chances of acquiring counterfeit items.

Beauty industry excluded from Covid grants; associations call for change

In the UK, following the Covid disruptions, it was established in January that beauty salons were qualified to request for financial assistance. The Additional Restrictions Grant (ARG) is accessed through local authorities, but hundreds of reports show that over 60 local authorities are either rejecting or not prioritising claims from beauty businesses – this is especially distressing given that beauty salons were among the businesses with the highest cancellations due to Omicron in December. The NHBF and BBCo are urging beauty firms to write to their local government, asking why they are excluding other businesses from this critical financial assistance. According to a report on www. professionalbeauty.co.uk, Richard Lambert, NHBF chief executive said: “Whilst we appreciate that each local authority is entitled to create their own criteria about which businesses receive ARG assistance and that funding will not meet the needs of all businesses affected it does appear that a significant number are actively excluding hair and beauty salons and barbershops in their area.”

Scarlett Johansson launches new skincare brand

Hollywood heartthrob Scarlett Johansson and Kate Foster have launched The Outset, a new skin care brand on March 1, 2022, according to the brand’s Instagram. The clean skin care line features six products including a cleanser, serum, moisturiser, night cream, eye cream and lip treatment. According to Johansson’s quote on The Outset website, “My goal was to simplify beauty with a focus on everyday essentials. I wanted The Outset to be universal, approachable, and as reliable as your favourite white tee –a classic staple.”

Marks & Spencer enters partnership with Clinique

Marks & Spencer has announced an online and in-store collaboration with Clinique. Clinique’s range of over 500 items will be available for click and collect at more than 700 sites later this year, as well as free next-day delivery on M&S.com. In addition, 34 M&S locations will have Clinique counters with professionals on hand to help clients, while another 40 stores will feature Clinique fixtures. The Dramatically Different Moisturising Lotion+, which is said to be sold every minute in the UK, will be one of the Clinique products on offer. “A compelling beauty offer is part of our efforts to change M&S – innovating with our own brands and continuing to introduce complementary third-party items such as skincare experts Clinique,” M&S Clothing and Home managing director Richard Price said. M&S Beauty’s strategic focus on skincare includes a partnership with Clinique, which comes as third-party clothing brands are launched on M&S.com.