The Coronavirus (COVID-19) pandemic had a negative impact on a hitherto strong-performing category in 2020. Lockdown, social distancing, few opportunities for socialising and smart/remote working and distance learning reduced the need or desire to wash or style hair as regularly.
Hair care products seen as less essential experienced stronger sales declines, informed by the restrictions imposed by the outbreak of COVID-19. Thus, in 2020, styling agents, salon professional hair care and, to a lesser extent, 2-in-1 products witnessed the fastest decreases in retail volume and current value sales over 2020.
Hair care continued to be dominated by the brands of major multinationals like L’Oréal, Henkel, Coty, Procter & Gamble, Beiersdorf, Unilever and Avon. These players were well placed to cope with the exigencies of the pandemic due to huge economies of scale, high financial resources for marketing and advertising and very well-organised distribution networks.
With the demand for hair care at a certain level of maturity in Latvia, the potential for strong overall retail volume and value (constant 2020 prices) growth is limited in the forecast period. This is exacerbated by the downward trend in population size and the strong emigration trend among young adults.
While salon professional hair care is expected to see a rebound as hair salons reopen, retail volume and value (constant 2020 prices) sales are not anticipated to return to 2019 levels until 2025. Nonetheless, salon customers are predicted to flow back to seek professional care for their relatively neglected hairstyles and repair any negative effects of self-care, such as home-applied hair dyes.
The anticipated resurfacing of pre-COVID-19 trends is expected to play a strong role in the rebound in the performance of hair care in the forecast period. For example, a long, hot summer supported growth spikes in sales in high-volume categories like standard shampoos and conditioners and treatments, which are dominated by basic products, in 2019.
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Understand the latest market trends and future growth opportunities for the Hair Care industry in Latvia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Hair Care industry in Latvia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Hair Care research and analysis database.
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