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| A14648 | Pages: 180 | Dec 2021 | 714 Views | | |
| Author(s) : Vidit Gite , Roshan Deshmukh | Tables: 37 | Charts: 32 |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Men’s Hair Care And Styling Products Market
Request Now !The men’s hair care and styling products market was valued at $40,430.0 million in 2020, and is projected to reach $54,755.1 million by 2030, registering a CAGR of 3.3% from 2021 to 2030.
Men’s hair care and styling products are products for men that help maintain the health of the hair as well as to style the hair in any desired form. Hair care products for men include shampoo, conditioner, 2-in-1 shampoo and conditioner, 3-in-1 shampoo conditioner and body wash, mask, leave-in conditioner, oil, serum, sprays, dry shampoos, and scalp treatments. Men’s hair styling products include cream, clay, gel or glue, wax, pomade, paste, foam or mousse, hairspray, and powder. These products are used by men of all ages across the world, residentially as well as commercially. The increasing trend of grooming and styling is leading to a greater adoption of such products amongst men. The men’s hair care and styling products market size is expected to grow decently owing to the increase customer awareness about the innovative and novel hair care products.
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With more than 147 million individuals worldwide affected by alopecia, the demand for hair care products have witnessed robust growth in the last 5 years. The climate & environment is changing and deteriorating day by day, which is aggravating the increase of damage on hair and scalp. Serious concerns regarding hair problems in the male population are on the increase, such as hair graying, dandruff, and hair loss. The concerns force customers to look for alternatives to preserve their hair health and prevent future hair problems. For instance, in a report published by the Journal of Clinical & Diagnostic Research in October 2018, around 60.3% of males from 18 to 50 years of age suffered from hair loss. Older people are more vulnerable to hair care because they are more sensitive to hair problems. Haircare companies are also introducing haircare products according to the market need to cater to the product demand.
Over the decade, the media & entertainment sector continues to evolve and supporting men’s hair care and styling products market growth. The worldwide media and entertainment business was transformed by substantial economic, technical, and social advances. The use of hair care products is also growing as new initiatives in the entertainment sector are being implemented. Appearance is an important component of the entertainment business since it promotes the artists' appearance and personality. There is an increase in the requirement for haircare & styling products with the advent of new daily soaps, movies, documentaries, and web series. Viewers of these shows and series get influenced by the look and style of their favorite artists, which creates a need for haircare products. The increase in need for the product directly increases the sale of haircare and styling products.
In addition, there are several innovative products, such as the development of organic and natural haircare products without the use of harmful chemicals like sulfates, parabens, and others. The introduction of Veg-Keratin products is expected to gain consumers' attention and increase sales. The innovation in products also contributes to the growth of the market.
However, increase in customer concerns over the harmful components in hair care products. Haircare companies use harmful chemicals in their products such as sulfates, parabens, polyethylene Glycols, Phthalates, Formaldehyde, Dimethicone, and Retinyl Palmitate. The chemical compounds react with the skin, which causes allergic dermatitis. In extreme cases, it transforms into rashes. Consumers who have sensitive skin are prone to get infected with the contact of these chemicals.
The concern of allergy is forcing the consumers to shift toward other alternatives and completely avoid using haircare products laden with harmful chemicals. The shift of customers away from chemical-laden products is affecting the growth of the men’s hair care and styling products market.
The key players profiled in this report include include American Crew, Baxter of California, Jack Black, Harry's, Malin+Goetz, Hanz de Fuko, Dove Men, Redken Brews, Old Spice, and Axe. These players are introducing new products in the men’s hair care and styling products industry to increase the customer base and product sale.
The men’s hair care and styling products market is segmented into product type, distribution channel, and region. By distribution channel, the men’s hair care and styling products industry is segregated into supermarket & hypermarket, convenience stores, specialty stores, e-commerce, and others (departmental stores and grocery stores). By region, the men’s hair care & styling products are divided into North America, Europe, and Asia-Pacific. Asia-Pacific leads in terms of men’s hair care and styling products market share and is poised to grow with highest CAGR during the men’s hair care and styling products market forecast period.
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By product type, it is categorized into hair care and styling, which is further subcategorized into (Shampoo, Conditioner, 2-in-1 Shampoo & Condition, 3-in-1 Shampoo, Conditioner, & Body wash, Mask, Leave-in-Conditioner, Oil, Serum, Sprays, Dry Shampoos, and Scalp Treatment) for Haircare and (Cream, Clay, Gel or Glue, Wax, Pomade, Paste, Foam or Mousse, Hairspray, and Powder) for Styling. Hair care products are the most popular products and occupy the largest men’s hair care and styling products market share. Styling products segment is estimated to grow with the highest CAGR during the forecast period.
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Depending on the sales channel, the men’s hair care and styling products market is divided into supermarkets and hypermarkets, convenience stores, specialty stores, e-commerce and others. Supermarkets and hypermarkets are the most popular means of purchase of men’s hair care and styling products as they are easily accessible and provide products at competitive prices.
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Key Benefits For Stakeholders
Key Market Segments
CHAPTER 1:INTRODUCTION
1.1.Report description
1.2.Key market segments
1.3.Key benefits for stakeholders
1.4.Research methodology
1.4.1.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.CXO perspective
CHAPTER 3:MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key findings
3.2.1.Top impacting factors
3.2.2.Top investment pockets
3.2.3.Top winning strategies
3.3.Porter's five forces analysis
3.3.1.Bargaining power of suppliers
3.3.2.Bargaining power of buyers
3.3.3.Threat of substitution
3.3.4.Threat of new entrants
3.3.5.Intensity of competitive rivalry
3.4.Top player positioning
3.5.Market dynamics
3.5.1.Drivers
3.5.1.1.Rise in awareness about hair fall has increased the demand for haircare products
3.5.1.2.Product Innovation in haircare & styling products supports the growth of the market
3.5.1.3.Expansion of media & entertainment industry flourishes the haircare & styling products market
3.5.1.4.Increased popularity of non-surgical treatment is surging the growth of the market
3.5.2.Restraints
3.5.2.1.Increased competition in the haircare and styling products market escalating price pressure
3.5.2.2.Increase in customer concerns over the harmful components in hair care products
3.5.3.Opportunities
3.5.3.1.Increase in online shopping is expected to drive up sales
3.5.3.2.An increase in awareness about herbal and organic variants is expected to increase the product demand
3.5.3.3.Increase in Focus on Marketing Activities and Established Distribution Network
3.6.Pricing Analysis
3.7.Value chain analysis
3.8.Consumer Insights and Preferences
3.9.Key claims, benefits and concerns
3.9.1.Claims and Benefits
3.9.2.Concerns
3.10.Product Innovations and trends
3.10.1.Ingredient
3.10.2.Category Innovation
3.11.Analysis of the performance of the products by company/brand
3.11.1.American Crew
3.11.2.Baxter of California
3.11.3.Jack Black
3.11.4.Harry’s
3.11.5.Malin+Goetz
3.11.6.Hanz de Fuko
3.11.7.Dove Men
3.11.8.Redken Brews
3.11.9.Old Spice
3.11.10.Axe
CHAPTER 4:MEN’S HAIR CARE & STYLING PRODUCTS MARKET, BY TYPE
4.1.Overview
4.1.1.Market size and forecast, by Type
4.2.Hair care
4.2.1.Key market trends, growth factors, and opportunities
4.2.1.1.Shampoo
4.2.1.2.Conditioner
4.2.1.3.2-in-1 Shampoo and Conditioner
4.2.1.4.3-in-1 Shampoo Conditioner and Body Wash
4.2.1.5.Mask
4.2.1.6.Leave-In Conditioner
4.2.1.7.Oil
4.2.1.8.Serum
4.2.1.9.Sprays
4.2.1.10.Dry Shampoos
4.2.1.11.Scalp Treatments
4.2.2.Market size and forecast, by region
4.2.3.Market analysis, by country
4.3.Styling products
4.3.1.Key market trends, growth factors, and opportunities
4.3.1.1.Cream
4.3.1.2.Clay
4.3.1.3.Gel Glue
4.3.1.4.Wax
4.3.1.5.Pomade
4.3.1.6.Paste
4.3.1.7.Foam
4.3.1.8.Hair Spray
4.3.1.9.Powder
4.3.2.Market size and forecast, by region
4.3.3.Market analysis, by country
CHAPTER 5:MEN’S HAIR CARE & STYLING PRODUCTS MARKET, BY SALES CHANNEL
5.1.Overview
5.1.1.Market size and forecast, by Sales Channel
5.2.Supermarkets and Hypermarkets
5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market analysis, by country
5.3.Convenience store
5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market analysis, by country
5.4.Specialty stores
5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region
5.4.3.Market analysis, by country
5.5.E-commerce
5.5.1.Key market trends, growth factors, and opportunities
5.5.2.Market size and forecast, by region
5.5.3.Market analysis, by country
5.6.Others
5.6.1.Key market trends, growth factors, and opportunities
5.6.2.Market size and forecast, by region
5.6.3.Market analysis, by country
CHAPTER 6:MEN’S HAIR CARE & STYLING PRODUCTS MARKET, BY REGION
6.1.Overview
6.1.1.Market size and forecast, by region
6.2.North America
6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by Type
6.2.3.Market size and forecast, by Sales Channel
6.2.4.Market analysis, by Country
6.2.4.1.U.S.
6.2.4.1.1.Market size and forecast, by Type
6.2.4.1.2.Market size and forecast, by Sales Channel
6.2.4.2.Canada
6.2.4.2.1.Market size and forecast, by Type
6.2.4.2.2.Market size and forecast, by Sales Channel
6.2.4.3.Mexico
6.2.4.3.1.Market size and forecast, by Type
6.2.4.3.2.Market size and forecast, by Sales Channel
6.3.Europe
6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by Type
6.3.3.Market size and forecast, by Sales Channel
6.3.4.Market analysis, by Country
6.3.4.1.UK
6.3.4.1.1.Market size and forecast, by Type
6.3.4.1.2.Market size and forecast, by Sales Channel
6.4.Asia-Pacific
6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by Type
6.4.3.Market size and forecast, by Sales Channel
6.4.4.Market analysis, by Country
6.4.4.1.China
6.4.4.1.1.Market size and forecast, by Type
6.4.4.1.2.Market size and forecast, by Sales Channel
6.4.4.2.Japan
6.4.4.2.1.Market size and forecast, by Type
6.4.4.2.2.Market size and forecast, by Sales Channel
6.4.4.3.India
6.4.4.3.1.Market size and forecast, by Type
6.4.4.3.2.Market size and forecast, by Sales Channel
6.4.4.4.Australia
6.4.4.4.1.Market size and forecast, by Type
6.4.4.4.2.Market size and forecast, by Sales Channel
6.4.4.5.Rest of Asia-Pacific
6.4.4.5.1.Market size and forecast, by Type
6.4.4.5.2.Market size and forecast, by Sales Channel
CHAPTER 7:COMPANY PROFILES
7.1.AMERICAN CREW
7.1.1.Company overview
7.1.2.Key strategic moves and developments
7.2.BAXTER OF CALIFORNIA
7.2.1.Company overview
7.2.2.Key strategic moves and developments
7.3.JACK BLACK L.L.C.
7.3.1.Company overview
7.4.HARRY’S, INC.
7.4.1.Company overview
7.4.2.Key strategic moves and developments
7.5.MALIN+GOETZ
7.5.1.Company overview
7.5.2.Key strategic moves and developments
7.6.HANZ DE FUKO
7.6.1.Company overview
7.7.DOVE MEN
7.7.1.Company overview
7.8.REDKEN BREWS
7.8.1.Company overview
7.8.2.Key strategic moves and developments
7.9.OLD SPICE
7.9.1.Company overview
7.9.2.Key strategic moves and developments
7.10.AXE
7.10.1.Company overview
LIST OF TABLES
TABLE 01.MEN’S HAIR CARE & STYLING PRODUCTS MARKET, BY TYPE, 2020–2030 ($ MILLION)
TABLE 02.MEN’S HAIR CARE PRODUCTS MARKET, BY REGION, 2020–2030 ($ MILLION)
TABLE 03.MEN’S HAIR STYLING PRODUCTS MARKET, BY REGION, 2020–2030 ($ MILLION)
TABLE 04.MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, BY SALES CHANNEL, 2020–2030 ($ MILLION)
TABLE 05.SALES OF MEN’S HAIR CARE & STYLING PRODUCTS MARKET VIA SUPERMARKETS AND HYPERMARKETS, BY REGION, 2020–2030 ($ MILLION)
TABLE 06.SALES OF MEN’S HAIR CARE & STYLING PRODUCTS MARKET VIA CONVENIENCE STORES, BY REGION, 2020–2030 ($ MILLION)
TABLE 07.SALES OF MEN’S HAIR CARE & STYLING PRODUCTS MARKET VIA SPECIALITY STORES, BY REGION, 2020–2030 ($ MILLION)
TABLE 08.SALES OF MEN’S HAIR CARE & STYLING PRODUCTS MARKET VIA E-COMMERCE, BY REGION, 2020–2030 ($ MILLION)
TABLE 09.SALES OF MEN’S HAIR CARE & STYLING PRODUCTS MARKET VIA OTHERS, BY REGION, 2020–2030 ($ MILLION)
TABLE 10.MEN’S HAIR CARE & STYLING PRODUCTS MARKET, BY REGION, 2020–2030 ($ MILLION)
TABLE 11.NORTH AMERICA MEN’S HAIR CARE & STYLING PRODUCTS MARKET, BY TYPE, 2020–2030 ($ MILLION)
TABLE 12.NORTH AMERICA MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, BY SALES CHANNEL, 2020–2030 ($ MILLION)
TABLE 13.NORTH AMERICA MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, BY COUNTRY, 2020–2030 ($ MILLION)
TABLE 14.U.S. MEN’S HAIR CARE & STYLING PRODUCTS MARKET, BY TYPE, 2020–2030 ($ MILLION)
TABLE 15.U.S. MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, BY SALES CHANNEL, 2020–2030 ($ MILLION)
TABLE 16.CANADA MEN’S HAIR CARE & STYLING PRODUCTS MARKET, BY TYPE, 2020–2030 ($ MILLION)
TABLE 17.CANADA MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, BY SALES CHANNEL, 2020–2030 ($ MILLION)
TABLE 18.MEXICO MEN’S HAIR CARE & STYLING PRODUCTS MARKET, BY TYPE, 2020–2030 ($ MILLION)
TABLE 19.MEXICO MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, BY SALES CHANNEL, 2020–2030 ($ MILLION)
TABLE 20.EUROPE MEN’S HAIR CARE & STYLING PRODUCTS MARKET, BY TYPE, 2020–2030 ($ MILLION)
TABLE 21.EUROPE MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, BY SALES CHANNEL, 2020–2030 ($ MILLION)
TABLE 22.EUROPE MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, BY COUNTRY, 2020–2030 ($ MILLION)
TABLE 23.UK MEN’S HAIR CARE & STYLING PRODUCTS MARKET, BY TYPE, 2020–2030 ($ MILLION)
TABLE 24.UK MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, BY SALES CHANNEL, 2020–2030 ($ MILLION)
TABLE 25.ASIA-PACIFIC MEN’S HAIR CARE & STYLING PRODUCTS MARKET, BY TYPE, 2020–2030 ($ MILLION)
TABLE 26.ASIA-PACIFIC MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, BY SALES CHANNEL, 2020–2030 ($ MILLION)
TABLE 27.ASIA-PACIFIC MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, BY COUNTRY, 2020–2030 ($ MILLION)
TABLE 28.CHINA MEN’S HAIR CARE & STYLING PRODUCTS MARKET, BY TYPE, 2020–2030 ($ MILLION)
TABLE 29.CHINA MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, BY SALES CHANNEL, 2020–2030 ($ MILLION)
TABLE 30.JAPAN MEN’S HAIR CARE & STYLING PRODUCTS MARKET, BY TYPE, 2020–2030 ($ MILLION)
TABLE 31.JAPAN MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, BY SALES CHANNEL, 2020–2030 ($ MILLION)
TABLE 32.INDIA MEN’S HAIR CARE & STYLING PRODUCTS MARKET, BY TYPE, 2020–2030 ($ MILLION)
TABLE 33.INDIA MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, BY SALES CHANNEL, 2020–2030 ($ MILLION)
TABLE 34.AUSTRALIA MEN’S HAIR CARE & STYLING PRODUCTS MARKET, BY TYPE, 2020–2030 ($ MILLION)
TABLE 35.AUSTRALIA MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, BY SALES CHANNEL, 2020–2030 ($ MILLION)
TABLE 36.REST OF ASIA-PACIFIC MEN’S HAIR CARE & STYLING PRODUCTS MARKET, BY TYPE, 2020–2030 ($ MILLION)
TABLE 37.REST OF ASIA-PACIFIC MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, BY SALES CHANNEL, 2020–2030 ($ MILLION)
LIST OF FIGURES
FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.EXECUTIVE SUMMARY
FIGURE 03.TOP IMPACTING FACTORS
FIGURE 04.TOP INVESTMENT POCKETS
FIGURE 05.TOP WINNING STRATEGIES, BY YEAR, 2018–2021*
FIGURE 06.TOP WINNING STRATEGIES, BY DEVELOPMENT, 2018–2021* (%)
FIGURE 07.TOP WINNING STRATEGIES, BY COMPANY, 2018–2021*
FIGURE 08.LOW BARGAINING POWER OF SUPPLIERS
FIGURE 09.HIGH BARGAINING POWER OF BUYERS
FIGURE 10.LOW THREAT OF SUBSTITUTION
FIGURE 11.MODERATE THREAT OF NEW ENTRANTS
FIGURE 12.HIGH INTENSITY OF COMPETITIVE RIVALRY
FIGURE 13.PLAYER POSITIONING OF TOP 10 KEY PLAYERS
FIGURE 14.MEN’S HAIR CARE & STYLING PRODUCTS MARKET, BY TYPE, 2020 (%)
FIGURE 15.COMPARATIVE VALUE SHARE ANALYSIS OF MEN’S HAIR CARE PRODUCTS MARKET, BY COUNTRY, 2020 & 2030 (%)
FIGURE 16.COMPARATIVE VALUE SHARE ANALYSIS OF MEN’S HAIR STYLING PRODUCTS MARKET, BY COUNTRY, 2020 & 2030 (%)
FIGURE 17.MEN’S HAIR CARE & STYLING PRODUCTS MARKET, BY SALES CHANNEL, 2020 (%)
FIGURE 18.COMPARATIVE VALUE SHARE ANALYSIS OF MEN’S HAIR CARE & STYLING PRODUCTS VIA SUPERMARKETS AND HYPERMARKETS, BY COUNTRY, 2020 & 2030 (%)
FIGURE 19.COMPARATIVE VALUE SHARE ANALYSIS OF MEN’S HAIR CARE & STYLING PRODUCTS VIA CONVENIENCE STORES, BY COUNTRY, 2020 & 2030 (%)
FIGURE 20.COMPARATIVE VALUE SHARE ANALYSIS OF MEN’S HAIR CARE & STYLING PRODUCTS SALES VIA SPECIALITY STORES, BY COUNTRY, 2020 & 2030 (%)
FIGURE 21.COMPARATIVE VALUE SHARE ANALYSIS OF MEN’S HAIR CARE & STYLING PRODUCTS SALES VIA E-COMMERCE, BY COUNTRY, 2020 & 2030 (%)
FIGURE 22.COMPARATIVE VALUE SHARE ANALYSIS OF OTHERS MEN’S HAIR CARE & STYLING PRODUCTS MARKET, BY COUNTRY, 2020 & 2030 (%)
FIGURE 23.MEN’S HAIR CARE & STYLING PRODUCTS MARKET, BY REGION 2020 (%)
FIGURE 24.U.S. MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, 2020-2030 ($ MILLION)
FIGURE 25.CANADA MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, 2020-2030 ($ MILLION)
FIGURE 26.MEXICO MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, 2020-2030 ($ MILLION)
FIGURE 27.UK MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, 2020-2030 ($ MILLION)
FIGURE 28.CHINA MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, 2020-2030 ($ MILLION)
FIGURE 29.JAPAN MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, 2020-2030 ($ MILLION)
FIGURE 30.INDIA MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, 2020-2030 ($ MILLION)
FIGURE 31.AUSTRALIA MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, 2020-2030 ($ MILLION)
FIGURE 32.REST OF ASIA-PACIFIC MEN’S HAIR CARE & STYLING PRODUCTS MARKET VALUE, 2020-2030 ($ MILLION)
Consumers’ awareness of hair issues continues to increase, forcing manufacturers to focus on continuous product innovation with multiple new features to gain considerable market share. The increasing use of hair styling products and haircare products in homes, salons, and haircare institutes boosts the demand for haircare and styling products in the market. Haircare and styling products manufacturers also focus on showcasing top products equipped with the latest technology.
Another important factor fueling the global demand for haircare and styling products is the increasing public awareness regarding hair health and the widespread use of products to avoid hair fall and protect their hair from damage. Lifestyle is also the driving force for market growth, as with the increase of availability of hair styling products consumers feel free to style and nourish their hairs according to the requirements.
In addition, there are several innovative products, such as the development of organic and natural haircare products without the use of harmful chemicals like sulfates, parabens, and others. The introduction of Veg-Keratin products is expected to gain consumers' attention and increase sales. The innovation in products also contributes to the growth of the market.
A. Hair care segment holds the maximum share of the Men’s Hair Care and Styling Products Market.
A. Young population and models are the potential customers of Men’s Hair Care and Styling Products Market industry.
A. Raise the query and paste the link of the specific report and our sales executive will revert you back with the sample.
A. Evolution of the media & entertainment sector and development of organic products are the driving factors and opportunities in the Men’s Hair Care and Styling Products Market.
A. The innovation in products contributes to the growth of the market
A. Raise the query and paste the link of the specific report or company profiles and out sales executive will revert you back.
A. Asia-Pacific will provide more business opportunities for Men’s Hair Care and Styling Products Market.
A. The key players profiled in this report include American Crew, Baxter of California, Jack Black, Harry's, Malin+Goetz, and others.
A. Adoption of natural hair care products will influence the Men’s Hair Care and Styling Products Market in the next few years.
A. The men’s hair care and styling products market was valued at $40,430.0 million in 2020, and is projected to reach $54,755.1 million by 2030, registering a CAGR of 3.3% from 2021 to 2030
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