Hair Colour Market Development, COVID 19 Impact Analysis, Future Business Growth, New Invesment Plans and Forecast to 2024

Market Highlights

Hair color has become one of the most popular products in the personal grooming and styling category. Hair color is used to enhance appearance with a variety of products available for different looks. Manufacturers have introduced products with various characteristics and forms to meet consumer demand for different hair styling looks. This is expected to drive the demand for hair color across the world.

The global hair color market has been segmented by type, function, distribution channel, and region.

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Based on product type, the global hair color market has been segmented into permanent and temporary. The permanent segment is projected to be the largest and fastest-growing during the forecast period. Permanent hair color is a one-time investment with sales driven by the need to cover gray hair. This type of hair color saves time and energy without the need for frequent reapplication. There is a variety of permanent hair colors available in the market with manufacturers launching new products for long-lasting color while causing minimal damage to the elasticity of hair.

The global hair color market has been segregated, by form, into powder, cream, and others. The cream segment is projected to gain the major share, in terms of revenue, of the global hair color market during the forecast period. Hectic lifestyles have led to a preference for easy-to-use and convenient products. Cream hair colors are easier to apply and are also more consistent than other forms of hair color.

By distribution channel, the global hair color market has been segmented into store-based and non-store-based. The store-based segment has further been divided into supermarkets and hypermarkets, specialty stores, and others. The store-based segment is projected to account for the larger market share during the review period due to the widespread availability of hair color in supermarkets and hypermarkets. Moreover, there is a higher preference for store-based channels among consumers as they provide a one-stop shopping experience. However, the non-store-based segment is projected to register the higher CAGR during the assessment period with the increasing sales of personal care products on e-commerce platforms.

Key Players

Some of the key players in the global hair color market are L’Oréal S.A. (France), Avon LLC (UK), Revlon Consumer Products Corporation (US), Conair Corporation (US), The Estée Lauder Companies Inc. (US), Godrej Consumer Products Limited (India), Hoyu Co., Ltd (Japan), Coty, Inc. (US), The Procter & Gamble Company (US), and World Hair Cosmetics Co Ltd (Hong Kong).

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Regional Analysis

The global hair color market has been segmented, on the basis of region, into North America, Europe, Asia-Pacific, and the rest of the world.

North America is expected to dominate the global hair color market owing to high disposable incomes of consumers who are willing to spend on high-quality hair products to enhance their appearance and keep up with changing fashion trends.

The market in Asia-Pacific is expected to be the fastest-growing as there are affordable products available in different varieties in the region. The growing popularity of salons is also boosting the demand for hair colors in Asia-Pacific.

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