In 2014, the market value of haircare products formulated for Black consumers was estimated to be worth $774 million, a 12% increase since the recession in 2009. A rise Mintel attributes to hair playing a vital role in shaping image.
Mintel estimates that the Black hair care market (defined as hair care products formulated for and specifically marketed to Black consumers) is up 2.5% from last year.
According to the market researcher, just 36% of Black consumers (vs. 48% of White consumers) use anti-aging facial moisturizers and four in 10 (41%) don't use any type of anti-aging facial skin care product.
However, in hair care the market is being invested in, with 42% of consumers having tried or shown interest in trying anti-aging hair products.
' While Black consumers love trying new products and experimenting with their appearance, they appear to under-index when it comes to anti-aging products,' says Tonya Roberts, multicultural analyst at Mintel.
In keeping with the trend of combating the effects of aging Roberts says 30% of Black consumers have used or are interested in hair care products that treat baldness and thinning, while 46% have used or would be willing to try color or tint products.
Black consumers are not necessarily looking for the fountain of youth
Those who use anti-aging products are motivated by different factors. In most cases, Black consumers aren't typically proactive when it comes to anti-aging, rather they are very reactionary.
But in the hair care category, it's different. The movement toward natural hair, whether natural hair weave or all-natural styles, is making Blacks a lot more conscious about the ingredients they put in their hair.
' Historically, Black consumers are not necessarily looking for the fountain of youth. They tend to embrace aging more so than other consumers.'
They are looking for ingredients that are natural, restore damaged hair, and make their hair healthy - and they're looking for results. Anti-aging products that include natural ingredients and promise to deliver on restoration are sure to appeal to Black shoppers.'
Shampoo, conditioner, styling products, and hair color segments have experienced steady increases, which may be due to fewer salon visits, availability of Black brands in mainstream stores and the natural hair trend.
Two-thirds (67%) of Black women and 77% of Black consumers overall have worn a natural hairstyle in the past year, suggesting that the trend toward natural styles shows no signs of slowing down.
Two thirds (66%) of those surveyed plan to wear a natural hairstyle within the next year. Men are more likely than women to say this, but nearly six out of 10 (58%) women say they plan to wear a natural hairstyle.
About one third (27%) are planning to go totally natural (no relaxer, color, or extensions), and two out of 10 (17%) will add color to their natural hair. One out of 10 of women are planning to wear twists (11%), natural braids (10%), or long locs (10%).