According to experts, increased experimentation by celebrities, complemented by developing technology and extensive use of social media has been contributing towards the rapid evolution of the industry.
Arpit Jain of Auraine Botanicals, which brought GKhair, a global hair care brand to India, said that the last decade had witnessed a "drastic makeover" in the hair industry.
"Previously people never expected much for their hair and were hesitant to experiment and to try new products or colors.
For instance, a fad was triggered when Emma Watson chopped off her long "Hermoine locks" right after she completed filming the "Harry Potter" series, to get a pixie crop.
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Closer to home, people followed Anushka Sharma's cropped hair look from "PK".
A slew of new hair trends can also be credited to the social media bloggers who have played an important role as influencers.
Jain added that there was a visible shift from "classic" hairstyles to trendy alternatives like an angled bob, or going for neon coloured hair.
The rapidly developing technology has transformed everyday use products like shampoos and conditioners into now catering to all kids of needs, be it cleaning the scalps, repair frizzy ends, repair hair condition, or conditioning the scalp.
The contemporary hair products come with UV protectors, heat protectors, with added moisturizers and natural oils which are essential for healthy hair.
Sanjay Dutta from the Looks Salon franchise said the use of nano-technologies and bio-technologies were no longer "unheard of".
"They are now being used by premium brands across the world," he said.
"Today's salon visiting crowd is beauty conscious as well as aware. This has encouraged salons to use latest products that are backed by latest technology," Dutta added.
The development in the industry has opened up styling avenues not just for women but also men, who are now turning "metrosexual" in their outlook.
"They are no more just swapping designations with women in beauty industry. Men are becoming more aware and experimental with their looks," Dutta said.