Market Insights Consumer Beauty & Personal Care Personal Care

Hair Care - Nigeria

Nigeria

In Nigeria, the revenue in the Hair Care market is projected to reach €1.20bn in 2024.
It is anticipated that the market will experience an annual growth rate of 9.28% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue in this market, amounting to €12,480m in 2024.
On a per capita basis, the revenue generated per person in Nigeria is estimated to be €5.24 in 2024.
Nigeria's hair care market is experiencing a surge in demand for natural and organic products, driven by growing consumer awareness of the benefits of chemical-free options.

Key regions: Indonesia, United Kingdom, India, United Arab Emirates, United States

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Methodology

Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.