Formula Botanica opened up enrolment for its first natural haircare course in June 2017: the Diploma in Organic Haircare Formulation. This new course caters for a totally untapped market in organic haircare and teaches you how to start an organic haircare brand. As you have no doubt experienced for yourself, there are hardly any haircare brands making truly organic cleansing, conditioning and styling products. The global organic haircare market is a largely uncontested field. Even those brands that call themselves organic, still end up using synthetic ingredients.
So we decided to interview members of our community and ask them whether they want to start an organic haircare brand. We interviewed 195 prospective beauty entrepreneurs in June 2017 and asked them the question: “what type of beauty brand do you want to create?”.
Results of our Beauty Brand Poll
The results of our poll were as follows:
- 108 out of 195 people (55%) want to create an organic skincare brand
- 4 out of 195 people (2%) want to create an organic haircare brand
- 83 out of 195 people (43%) want to create an organic skincare and haircare brand
In other words, the number of entrepreneurs who want to focus solely on organic haircare is heavily in the minority.
Big Opportunities to start an Organic Haircare Brand
The latest (2017) statistics on the growth of the organic haircare market are:
- The global haircare market is currently worth about $80bn. Analysts are predicting the global market will reach $105bn by 2024.
- The global organic haircare market is currently worth about $3bn. Analysts are predicting this market segment will reach $4bn by 2020, potentially growing to $5bn by 2022.
- The number 1 consumer demand for shampoos and conditioners is that they are botanical or herbal.
- The organic segment of the global haircare market is growing much faster than the mainstream segment.
The numbers speak for themselves. There are impressive opportunities for entrepreneurs who want to enter this market and we can’t wait to see what the first 135 students in our initial intake on our Diploma in Organic Haircare Formulation will do with their new knowledge and skills.
What about you? What type of business are you planning to launch? Leave us a comment below and let us know!