L'Oréal boasts a market share of 29% in Norway's hair care segment, making it the country's most popular brand by a significant margin, according to latest research released by Euromonitor.
' With retail value sales of NOK783 million and a 29% value share. L'Oréal is a leading global player in hair care and the company has vast experience in terms of product innovation, marketing and promotional campaigns,' the market research firm notes.
L'Oréal dominates across most categories, with its brand El'Vital leading shampoos and conditioners, and its L'Oréal Studio Line winning out in the styling agent category: however, despite the French multinational holding the top spot, the category remains highly competitive.
Other key brands in the region, such as Wella and Schwarzkopf, join L'Oréal in making the retail landscape saturated and highly contested, with the category's leading players constantly launching and re-launching product lines to maintain their visibility.
' Innovative launches are quickly picked up by other companies, which launch their own versions followed by heavy advertising,' note Euromonitor analysts.
' Annually, there are around 100 launches or re-launches of hair care products in Norway,' they confirm: looking ahead, an emphasis on innovation and launches will be key.
Growth, analysts note, is being driven ' by a wide range of new and innovative product developments, as people constantly demanded better products for their hair. '
Consumers in the country are increasingly informed about the ingredients in their personal care products - as a result, products which are free from such elements as allergenic substances and endocrine disrupters are seeing a strong uptake.
Hair oil is a key trend tipped to be big in the country, with hybrid products between treating- and nourishing-products and styling seeing rising consumer enthusiasm, according to experts: L'Oréal's recent launch of its Elsève Extraordinary Oil proved well-received.
This will also tap into an interest in the multifunction trend, notes Euromonitor: ' People are looking to combine the simple and convenient everyday products with more luxurious products with additional properties.'