Hair Color Market Is Anticipated To Grow Significantly, With A Predicted CAGR Of 5.54%, And Reach A Market Value Of USD 6,868.55 million By 2030
Jan 25, 2023
Hair Color Market Research Future Insights
According to market research future insights analysis, the global hair color market is expected to register a CAGR of 6.54% from 2021 to 2028 and hold a value of over 6,868.55 million by 2028.
The growing preference for professional salon services, the quick expansion of organized retail, and the rising propensity for self-care and grooming are the main factors driving the global market growth. Over the past few years, people have paid more attention to their cleanliness, grooming, and appearance. It is projected that the worldwide hair color market will be driven by a growing population that is preoccupied with appearance and self-care. Women’s goods have dominated the grooming market for decades, but the male-identifying population has recently gained a sizable market share in the cosmetics sector. Furthermore, the global market for hair color is expected to rise, but the negative consequences of the chemicals used in hair color are expected to slow it down. Nevertheless, it is anticipated that businesses active in the global market will encounter profitable prospects over the projected period due to the rising demand for organic products and new product releases.
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Regional Analysis
In 2021, North America controlled the global hair color market. The U.S. is actively supporting the rise in market revenue. One of the reasons influencing market growth is the existence of well-known brands like Coty Inc, Estée Lauder Companies Inc., Revlon Inc., Avon Products Inc., and other producers. Other variables that influence the market in this region include the presence of several celebrities and the expanding trend of celebrity endorsements for hair color products.
Besides, manufacturers of hair color find great success in Asia-Pacific. The primary factors for the growth of the Asia-Pacific hair color market are projected to be rising consumer expenditure on leisure goods and rising consumer knowledge of product use. In these nations, producers are launching fresh goods, helping the regional market to expand. In 2021, China held the greatest market share in the Asia-Pacific region, and it is anticipated that it will continue to hold this position during the study period. The market in India is anticipated to increase at the greatest rate during the projection period.
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Market Segmentation
The global hair color market has been segmented into product, end-user, and distribution channels.
Based on product, the market has been segmented into permanent, temporary, and others. In 2021, the permanent hair color segment held the biggest market share (40.71%). Permanent hair color often lasts until the twentieth wash. Additionally, it has been noted that millennials are embracing contemporary clothing, including hair coloring, for more alluring looks. The hair color market is driven by emerging economies’ booming youth populations, urbanization, and their constantly changing lifestyles.
Based on end-user, the market has been segmented into men and women. Women held the biggest market share of 49.53% in 2021 and are anticipated to grow at a respectable CAGR over the course of the forecast period. However, during the projected period, the men’s category is anticipated to experience the greatest CAGR.
Based on distribution channels, the market has been segmented into offline and online. The offline sector, which held a larger market share of 88.49% in 2021, is anticipated to grow at a respectable CAGR over the course of the forecast period. But during the forecast period, the online segment is anticipated to post a higher CAGR. The primary driver of market growth is the growing preference of young people worldwide for online shopping portals to purchase beauty care products.
Key Players
Some of the key market players are Coty Inc., L’Oréal S.A., Estée Lauder Companies Inc., Revlon, Inc., Avon Products Inc., and Unilever PLC.
Discover more research Reports on Consumer And Retail industry, by Market Research Future:
Men’s Hair Color Market Research Report: Information by Product Type (Permanent and Semi-Permanent Hair Color, Temporary Hair Color and Root Touch-Up), Category (Conventional and Natural & Organic), Form (Powder and Cream & Gel), End User (Household and Commercial), Distribution Channel (Store-Based and Non-Store-Based), and Region (North America, Europe, Asia-Pacific and Rest of the World) —Forecast till 2030
Global Organic Hair Color Market Information By Item Type (Long-Lasting and Transitory in Light), By Structure (Powder, Cream, and Others), By End-Use (Individual and Business), and by Region (North America, Asia-Pacific, Europe, and Rest of The World)—Forecast Till 2027
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