Growth slow-but-steady in Swedish hair care due to economic woes

By Andrew MCDOUGALL contact

- Last updated on GMT

Growth slow-but-steady in Swedish hair care due to economic woes

Related tags: Retailing

Despite being the third largest sector in the Swedish Health & Beauty industry, hair care is projected to witness only the seventh fastest growth towards 2017, as consumer spending remains restricted.

Like many other European countries, Sweden is still recovering from the global economic crisis, and this is still taking its toll on the market, according to researcher Canadean.

In its latest report, the researcher states that the sector is forecast to witness a steady value CAGR of 2.4 per cent towards 2017, with shampoo being the standout performer.

Shampoo holds the largest value and volume share of the Swedish hair care sector and will continue to do so through to 2017, says the market analyst.

Order of merit

Shampoo is the largest category in the sector, with a value share of 38.4 per cent and volume share of 39.5 per cent in 2012. The segment is forecast to witness the fastest value CAGR of 2.9 per cent during towards 2017 and the joint second fastest volume CAGR of 1.0 per cent; but overall the category will still feel the effects of the restricted consumer spending.

Hair Colorants holds the second largest value and volume shares of 22.3 and 22.0 per cent respectively, and is also projected to witness the second fastest value and volume CAGR.

In the bronze medal position, Styling Agents has value and volume shares of 20.5 and 20.1 per cent respectively, with fourth place Conditioner just falling short.

Perms and Relaxers has the smallest value share of 5.5 per cent and smallest volume share of 5.3 per cent, and will witness the slowest value CAGR as well.

Distribution

According to the report, Hypermarkets and Supermarkets continue to be the most valuable distribution channels for hair care products.

This channel has the largest share of the market and shares the fastest growth rate with fifth place Convenience Stores.

Health & Beauty Stores has the second largest share but witnessed a decline in share, followed by Drug Stores & Pharmacies with the third largest share and second fastest growth.

Fourth place Department Stores, seventh place eRetailers, eighth place “Dollar Stores”, Variety Stores & General Merchandise Retailers, and ninth place Cash & Carries & Warehouse Clubs all shared the second fastest growth rate in market share.

Related topics: Hair Care

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