Hair trends 2020: Trending Searches for the Next Top Hair Trend
Hair trends are expected to grow at an annualized rate of more than 9%, according to a new report by research firm Pivotal.
The trend is expected to double from around 7% in 2020 to around 11% in 2030, according to Pivotronix.
The firm also projects that the trend will double again in 2045 to 26% of the population.
The report predicts that the total market for hair products will hit $3.3 trillion by 2030.
The growth rate of the hair market has been on the rise, especially among younger consumers.
The growth in hair trends is expected at a pace of around 10% a year from 2020 to 2035, according the firm.
This is a huge market with a large potential for growth and will continue to grow, said Pivotson.
The report said that the growing popularity of the product has driven the market’s value to double, reaching $9.8 billion in 2020, with a valuation of $11.8 trillion by 2035.
The market is expected grow from $7.2 billion in 2016 to $18.5 billion by 2030, the firm said.