City-based Ayruvedic drugs manufacturer Millennium Herbal Care Limited has launched HairVit, a hair and scalp nutrient and revitaliser.

HairVit is indicated in cases of hair loss due to varied aetiology, premature greying of hair and insomnia. The company proposes to market the product exclusively ethically for patients suffering from hair loss due to various medical problems as well as for people who are on long term drug therapy, product executive Dr Tamoli said.

HairVit is specifically indicated in pregnant ladies and patients receiving chemotherapy where it supplies the essential micronutrients to the hair follicles and thus assures re-growth of quality hair.

HairVit contains Amla, Bhringraj, Mehndi, Jasund, Kumari, Neem and Shikakai which helps in strengthening hair root and hair shaft, prevent premature hair fall and greying, clears dandruff and provides a cooling sensation to the scalp.

By virtue of its ingredients and the lipophelic base, HairVit actively penetrates the scalp, reaches the hair follicles, promotes vaso-dilation and improves blood circulation. The active ingredients in HairVit provide micronutrients to the hair follicles to strengthen the hair shaft and promote growth of new hair, Dr Tamoli said.

The coconut hair oil market is currently estimated at Rs 140 crore, 60 per cent of which is accounted for by branded products, he said. The branded hair oil market output is estimated at 70,000 tonnes. The market has been growing at around 3-4 per cent in volume terms and 6-7 per cent per annum in value terms.

Says Dr Tamoli, "Hair care always has been an area of prime concern to every individual. Hair loss and greying can occur due to various causative factors ranging from nutritional insufficiency to chemotherapy and radiotherapy."

Various hair application products are promoted and consumed in the form of oils, pastes, creams etc. The market for these hair applications is tremendous and ever growing.

During the last few years, several product variants, such as non-sticky hair oil, value added hair oil etc, have become very popular. These variants are growing at a much faster pace, compared to the pure coconut hair oil segment. The market for these products is estimated at Rs 4.25bn and has been growing at 20-25 per cent pa, he says. A majority of the hair applications today are sold as OTC products.