Boston, MA -- (ReleaseWire) -- 07/07/2014 -- Due to the sheer size of the category, hair care plays a vital role in the plans of the leading companies in beauty and personal care in Lithuania and the majority of products in the category are also subject to a significant level of attention among Lithuania's retailers. The pace of innovation in the category remains rapid one, with numerous products launched each year and this produces both successes and complete failures. During 2012, hair care in Lithuania was a truly complex category in which to be doing business and there was no single trend which defined the category as the wildly divergent needs of Lithuanian consumers and the massive difference in their purchasing power, expectations and beliefs led to very fragmented demand.
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Hair care in Lithuania remains a category dominated by foreign companies, despite rising pressure from local producers. L'Oreal Baltic SIA and Procter and Gamble Services LT UAB each held a 29% value share in hair care in 2012. Each of these companies employs a similar strategy in hair care, promoting numerous brands in order to target specific sets of consumers. Generally, L'Oreal seeks to appeal to more affluent consumers and dares to offer niche products in order to do so, while Procter & Gamble is fully committed to catering to mass demand. The approach of each of these leading hair care companies diverges in terms of distribution as well, with L'Oreal's brands available through hair salons as well as retail channels, a strategy which generates significant profits for the company. In spite of these differences, both of the leading hair care companies in Lithuania continue to rely heavily on the allure of their brands, which has been developed over many years of unparalleled spending on marketing. In addition to the strong advertising activity that each of these companies engages in through a variety of media channels, both companies also distribute sample packs of their products in the hope that this will convert undecided consumers into loyal customers.
The use of basic hair care products is likely to remain common to all Lithuanians during the forecast period. This represents both good news and bad news for the leading companies in hair care; bad news as they have to deal with saturated demand and therefore limited profit margins, and good news because the industry proved to be quite stable over the recent years. In order to escape the situation, the category's leading companies will be forced to place more emphasis on hair care categories other than shampoos and conditioners. Another way to rise to the challenge that this situation presents is to differentiate their current products. This is already being done by many of the leading companies in hair care, with differentiation taking the form of accentuating natural ingredients and high-end technology and Lithuanian consumers are expected to take more notice of these types of activities during the forecast period.
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The Hair Care in Lithuania market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Hair Care in Lithuania?
- What are the major brands in Lithuania?
- Which types of styling agents are most common?
- How are shampoos versus 2-in-1 products performing?
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Product coverage: 2-in-1 Products, Colourants, Conditioners, Hair Loss Treatments, Perms and Relaxants, Salon Hair Care, Shampoos, Styling Agents.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
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