Aging hair is getting a makeover.
The historically unsexy category has a handful of new entrants, like Nutrafol and Better Not Younger, that aim to tackle issues like hair loss, texture shifts from hormonal changes and overall hair well-being.
According to Euromonitor, the over-the-counter hair-loss treatment market globally reached more than $900 million in 2018. In the U.S., the market was $126.4 million. Mintel’s data shows that a significant percentage of adults — 44 percent — have taken appearance-oriented supplements, according to Olivia Guinaugh, U.S. home and personal-care analyst.
“Hair loss is the biggest concern consumers have,” Guinaugh said, noting that graying hair also appeared as a concern. She has seen nutritional supplements that target hair enter the space, and said it underscores the overall wellness trends. “That beauty-from-within trend, that’s really impacting the hair-care market,” Guinaugh said.
Unsurprisingly, money has found its way into the space.
Hers Complete Hair Kit.
Nutrafol, a hair supplements and wellness business, raised a $35 million Series B led by L Catterton’s Growth Fund earlier this week. Unilever Ventures, an existing investor, also participated. Virtue Labs has raised around $45 million for its hair wellness line, according to founder and chief executive officer Melisse Shaban, and has hair-loss products in