The latest figures show that the Spanish hair care market grew at the fastest rate in the European Union since 2000 to reach a total value of €856m in 2004, according to the latest figures from Research and Markets.
Only 20 years ago the Spanish retail market was considerably less developed than many of the more advanced economic nations in the European Union. However, economic prosperity and consumer willingness to try new products is helping to boost the hair care segment like no other market in Europe.
According to the research, "the shelves of Spanish supermarkets now groan under the weight of vastly-increased haircare ranges, segmented by hair type, hair colour, function, ingredients and added benefit."
As has been the case with fashion apparel, styling products have caught on in a big was as increasingly fashion- and style-conscious Spaniards strive to be at the cutting edge of the latest trends.
One of the newest additions to the market is young men, who are arriving in 'droves'. It was not long ago that using hair styling products was considered over the top for urban males, but nothing could be further from the truth as increasingly sophisticated styles reach the mainstream.
Interestingly the report also finds that Spanish men who use haircare products and shampoo frequently are more likely than other males in Europe to rely on TV to keep them informed, notice outside advertising and purchase products they have seen advertised.
The resulting market growth means that the identity of the Spanish hair care market is now converging with that of the rest of Europe, presenting a dizzying choice of products that cater to every imaginable hair care need, creating ever-finer segmentation.
The most likely scenario is that soon the Spanish hair care market is likely to take on similar characteristics to the German, French, and UK hair care markets, where product saturation and exceptionally high penetration rates has led to market stagnation and problems with maintaining brand loyalty that are being overcome with increasing segmenation.