2023 hair care trends
Whether driven by TikTok trends (social media is currently awash with 90’s style blowouts) or a desire to soothe itchy scalps, people are buying more hair care products.
Mass market retailer dollar sales in hair care rose 5% in the final month of 2022, capping off a year where growth never dipped into the red, as per NielsenIQ data. Prestige hair care is also booming, according to The NPD Group, which said the category expanded 23% in the third quarter of 2022.
During the past year, retailers including Walmart, Target, Walgreens, CVS and Ulta Beauty expanded selections of products for textured hair, added new solutions for healthier scalps and stocked up on hair growth remedies. Here are a few trends industry experts believe will keep the momentum flowing in 2023.
Acquisitions: Founders, especially BIPOC creators, worked hard to solve specific hair care needs by formulating products, often in kitchens before securing distribution. Multinational powerhouses, seeing the traction these brands are gaining, look to leverage that power by joining forces.
Procter & Gamble’s acquisition of Mielle Organics, a brand founded by Monique and Melvin Rodriguez in 2014, is a case in point. Monique, who has a nursing degree, gained fame on social media after she shared her hair care regimen for her tailbone-length tresses. Most recently, her Organics Rosemary Mint Scalp & Hair Strengthening Oil went viral.
She started the company with one product, the Advanced Hair Formula which included a blend of herbs, amino acids and minerals. Today her brand is sold at CVS, Walmart, Target and Walmart, among others. For Mielle, P&G will help expand the availability of the brand; for P&G, Mielle brings a broader assortment of products for people of color to its portfolio. “Within this partnership, our role as P&G Beauty will be to support the Mielle Organics team with what they need to achieve their vision—including product expansion in Black and brown communities and investing in research and innovation,” said Alex Keith, CEO of P&G. What is important for the brand’s future is that Monique and Melvin Rodriguez will continue at the helm as CEO and chief operating officer, respectively and will operate as an independent subsidiary.
This is the latest in a string of purchases of brands built by Black founders including Carol’s Daughter (L’Oréal), The Mane Choice (MAV Brands) and Shea Moisture (Unilever).
With demand for products for people with textured hair, multinational companies are on the prowl for acquisition opportunities in 2023.
[Read more: HRG’s five notable products from January 2023]