Workhorse Group Inc
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Consumer Discretionary : Automobiles | Small Cap Growth
Company profile

Workhorse Group Inc. is a technology company, which is focused on providing solutions to the commercial transportation sector. The Company is engaged in the manufacturing electric delivery trucks and drone systems. Its product includes C-series electric delivery truck and package delivery aircraft, HorseFly. It also offers Metron telematics systems platform, which allows users to track and monitor the performance of their vehicles. The Company’s C-Series electric delivery truck platform is available in 650 and 1,000 cubic feet configurations. HorseFly is an unmanned aerial system (UAS), which is custom-designed, purpose-built system that delivers packages. The Company’s delivery customers include companies such as Alpha Baking, FedEx Express, Fluid Market, Inc., Pride Group Enterprises, Pritchard, Ryder, UPS and W.B. Mason.

Closing Price
$6.50
Day's Change
-0.04 (-0.61%)
Bid
--
Ask
--
B/A Size
--
Day's High
6.61
Day's Low
6.38
Volume
(Light)
Volume:
6,325,385

10-day average volume:
8,614,103
6,325,385

Shampoo Market to Hit USD 39.58 Billion by 2028; Custom Made Hair Cleanser to Augment Market Growth, Says Fortune Business Insights(TM)

1:00 pm ET August 26, 2021 (Globe Newswire) Print

The global shampoo market size is expected to gain momentum by reaching USD 39.58 billion by 2028 from USD 30.89 billion in 2021 while exhibiting a CAGR of 3.6% between 2021 to 2028. In its report titled "Shampoo Market, 2021-2028," Fortune Business Insights(TM) mentions that the market stood at USD 30.09 billion in 2020.

Demand for shampoos is increasing in the market due to increasing pollution, changing lifestyle, and desire of having silky, shiny hair is the prime factor that is driving the hair care market. Further, the availability of different types of hair cleansing products such as dry, dandruff control, herbal is also promoting growth. Also, the demand for hair cleansing products that are specially designed for colored hair is likely to bode well for this market.

COVID-19 Impact

In tough and unprecedented times of the COVID pandemic, demand for hygiene products was increased dramatically. However, the personal care industry was hit badly as the companies retooled in manufacturing sanitizers and other protective equipment that were used by frontline warriors to combat the virus. Thus, the manufacturing of hair care, hair color, and hair styling products was hit badly, and companies reported a drop in their revenue.

-- For instance, Henkel and Unilever witnessed a decline in shampoo consumption in the first quarter of 2020 when the coronavirus has just started to transmit worldwide. The company recorded slow year-on-year growth for hair products, and the sales under hair saloon business were also down by a double-digit percentage.

-- Procter & Gamble experienced a double-digit volume decline in the Chinese hair care retail market due to temporary disruptions from January to March 2020.

However, the consumption of shampoo is expected to revive once the lockdown is completely lifted all over the world.

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Competitive Landscape

Key Players to Focus on Acquisitions to Strengthen Their Positions

The shampoo market is consolidated by major companies striving to maintain their position by focusing on new launches. For instance, in January 2020, Herbal Essence, hair care brand of Procter & Gamble, brand Herbal Essence came up with its new product line, 'Potent Aloe Collection.' This line of hair cleansers comes with a sustainability program. The brand collaborated with TerraCycle to create a recyclable bottle. These bottles are made with 25% beach plastic collected from organizations around the world. Such environment-friendly initiatives will significantly enhance their portfolio of innovative products in the dentistry segment, and such proactive strategies are expected to drive the market in upcoming years.

Key Industry Developments

-- January 2020 - Garnier Fructis, a brand of L'Oreal, launched 'Treat Shampoo & Conditioner' products that are vegan and formulated with 98% naturally derived ingredients.

Key Shampoo Manufacturers Operating in the Market:

-- L'Oreal S.A. (Paris, France)

-- Unilever (London, U.K.)

-- Shiseido Co. Ltd. (Tokyo, Japan)

-- Procter & Gamble Co. (Ohio, U.S.)

-- Henkel AG & Co. KG aA (Dusseldorf, Germany)

-- Johnson & Johnson (New Jersey, U.S.)

-- Coty Inc. (New York, U.S.)

-- Estee Lauder Co. Inc. (New York, U.S.)

-- Kao Corporation (Tokyo, Japan)

-- Beiserdorf AG (Hamburg, Germany)

Browse Detailed Summary of Research Report with TOC:

https://www.fortunebusinessinsights.com/shampoo-market-103432

Market Segmentation:

By product type, the market is bifurcated into medicated and non-medicated. By its form, it is segmented into liquid, solid, and others. Based on it its application, it is divided into household and commercial. On the basis of its distribution channel, it is segmented into hypermarket/supermarket, convenience stores, online stores, and others. Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa

What does the Report Provide?

The shampoo market report provides a detailed analysis of several factors, such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborate to contribute to the market growth.

Drivers & Restraints

Increasing Prevalence of Hair Problems to Fuel Market Growth

Problems ranging from hair thinning, sebum secretions to severe hair loss all have been given a fair share of opportunities to come up with effective hair cleansing products. Thus, manufactures are coming up with custom-made shampoos related to several hair problems, such as cleansers for oily hair and dry hair, those for curly type, and the ones who desire to have voluminous and bouncy hair.

For instance, in 2019, the Journal of 'Drug Invention Today' published a questionnaire-based study about the 'General awareness about seborrheic dermatitis/dandruff among dental students. This survey led to the conclusion that more than 65% of survey respondents experience dandruff problems, wherein 75% of them stated that the cause of dandruff was the change in hormonal levels and stress. However, the majority of participants use anti-dandruff shampoo to combat the issue.

On the other hand, excessive use of hair cleansers affects hair growth. Additionally, awareness about DIY (Do-It-Yourself) products such as the use of amla (Indian gooseberry), reetha (Indian soapberry), egg yolk, and curd for hair cleansing is likely to limit the market growth.

Regional Insights

Asia Pacific to Dominate Backed by Increased Spending on Hair Care Products

Asia Pacific is expected to remain at the forefront and hold the highest position market during the forecast period owing to the growing number of millennials as well as Gen X in the countries with increasing spending on basic hair care products. For instance, a report by Japan Cosmetic Industry Association states that, as of 2018 data, nearly 22.7% of shipments are of hair care products in the region. Furthermore, key players are targeting the population with the introduction of low-cost sachets to increase market penetration in the rural area as well. The region's market stood at 10.54 Billion in 2020.

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Detailed Table of Content:

-- Introduction

    -- Research Scope

    -- Research Scope

    -- Market Segmentation

    -- Research Methodology

    -- Definitions and Assumptions

    -- Executive Summary

    -- Market Dynamics

      -- Market Drivers

      -- Market Drivers

      -- Market Restraints

      -- Market Opportunities

      -- Emerging Trends

      -- Key Insights

        -- Overview of the Parent/Related Markets

        -- Overview of the Parent/Related Markets

        -- Industry SWOT Analysis

        -- Supply Chain and Regulatory Analysis

        -- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions

        -- Qualitative Analysis (in relation to COVID-19)

        -- 4.5.1 Impact of COVID-19

        -- 4.5.2 Supply Chain Challenges

        -- 4.5.3 Potential Opportunities due to COVID-19

        -- Global Shampoo Market Analysis, Insights, and Forecast, 2017-2028

          -- Key Findings / Summary

          -- Key Findings / Summary

          -- Market Size Estimates and Forecast

            -- By Product Type (Value)

            -- Medicated/Special-Purpose

            -- By Product Type (Value)

            -- Medicated/Special-Purpose

            -- Medicated/Special-Purpose

            -- Non-Medicated/Regular

            -- By Form (Value)

            -- Liquid

            -- Liquid

            -- Solid

            -- Others

            -- By Application (Value)

            -- Household

            -- Household

            -- Commercial

            -- By Distribution Channel (Value)

            -- Hypermarkets/Supermarkets

            -- Hypermarkets/Supermarkets

            -- Convenience Stores

            -- Online Stores

            -- Others

            -- By Region (Value)

            -- North America

            -- North America

            -- Europe

            -- Asia Pacific

            -- South America

            -- Middle East & Africa

            -- North America Shampoo Market Analysis, Insights and Forecast, 2017-2028

              -- Key Findings / Summary

              -- Key Findings / Summary

              -- Market Size Estimates and Forecast

                -- By Product Type (Value)

                -- Medicated/Special-Purpose

                -- By Product Type (Value)

                -- Medicated/Special-Purpose

                -- Medicated/Special-Purpose

                -- Non-Medicated/Regular

                -- By Form (Value)

                -- Liquid

                -- Liquid

                -- Solid

                -- Others

                -- By Application (Value)

                -- Household

                -- Household

                -- Commercial

                -- By Distribution Channel (Value)

                -- Hypermarkets/Supermarkets

                -- Hypermarkets/Supermarkets

                -- Convenience Stores

                -- Online Stores

                -- Others

                -- By Country (Value)

                -- U.S

                  -- By Product Type (Value)

                    -- Medicated/Special-Purpose

                    -- U.S

                      -- By Product Type (Value)

                        -- Medicated/Special-Purpose

                        -- By Product Type (Value)

                          -- Medicated/Special-Purpose

                          -- Medicated/Special-Purpose

                          -- Non-Medicated/Regular

                          -- Canada

                            -- By Product Type (Value)

                              -- Medicated/Special-Purpose

                              -- By Product Type (Value)

                                -- Medicated/Special-Purpose

                                -- Medicated/Special-Purpose

                                -- Non-Medicated/Regular

                                -- Mexico

                                  -- By Product Type (Value)

                                    -- Medicated/Special-Purpose

                                    -- By Product Type (Value)

                                      -- Medicated/Special-Purpose

                                      -- Medicated/Special-Purpose

                                      -- Non-Medicated/Regular

                                      TOC Continued...!

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                                      Have a Look at Related Research Key Updates:

                                      Hair Care Market Size, Share & COVID-19 Impact Analysis, By Product (Hair Colorants, Shampoo, Conditioner, Hair Oil, and Others), Distribution Channel (Supermarket/Hypermarket, Specialty Stores, Online Stores, and Others), and Regional Forecasts, 2021 - 2028

                                      Bath and Shower Products Market Size, Share & COVID-19 Impact Analysis, By Product Type (Bath Soaps, Body Wash/Shower Gel, Bath Additives, Others), By Form (Solid, Gels & Jellies, Liquid, Others), By End User (Men and Women), By Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Online Stores, and Others), and Regional Forecast, 2021-2028

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