Hair Color Market Growth & Trends
The globalhair color marketsize was estimated at USD 34.13 billion by 2028, expanding at a compound annual growth rate (CAGR) of 5.7% from 2022 to 2028, according to a new report by Grand View Research, Inc. The key growth factors in the market include the rising expenditure on hair care products, such as hair color, owing to the aging population across the globe. Additionally, the significant product innovation by the major players is further projected to provide significant opportunities to the market. For instance, Loreal SA is one major player in the hair color industry that launched various hair dyes that are long-lasting and available in natural color shades.
Hair Color Market Segmentation
Grand View Research has segmented the hair color market based on product, end-user, distribution channel, and region:
Based on the Product Insights, the market is segmented into Permanent, Temporary and Others.
- The permanent segment contributed to a larger market share of over 70% in 2021. The significant trend toward permanent hair color due to the wide availability of natural shades is the major factor that is contributed to the largest market share. Moreover, the permanent hair color provides a more natural look than the other type of hair dyes. Therefore, the consumers prefer permanent hair dyes as compared to other types thus contributing to the significant share.
- The temporary hair color segment is forecast to expand with a significant CAGR of 6.2% from 2022 to 2028. The significant rise in the fashion trends of changing hair color occasionally across the globe is one of the major factors that propel the market growth. By applying the temporary hair dye, the consumers can eventually wash it out if they are not satisfied with the color. Moreover, the temporary hair dye can be easily applied directly from the applicator without pre-mixing them. Therefore the ease of the application of temporary hair color is further projected to grow significantly in the upcoming years.
Based on the End-User Insights, the market is segmented into Men and Women.
- The women segment contributed to a larger revenue share of around 75% in 2021. The significant trend toward hair coloring in women is one of the major factors that are contributed to the largest market share. The high expenditure of women on hair care and beauty products as compared to men further supports the largest market share. As per the survey in the US, around 75% of women use hair dye annually. Therefore a significant portion of the women population uses the different hair color products across the globe that further contributing to the highest share of the segment.
- Additionally, the men's segment is forecast to expand with a significant CAGR of 5.9% during the forecast period. The growing trend for using haircare products among men is one of the major factors that drive the market growth. Moreover, the growing trend toward trendy hairstyles with different colors among men is further projected to enhance the market growth during the forecast period. Moreover, the significant brand endorsement of hair color by celebrities further encourages the men population toward hair coloring products that further provide significant growth opportunities to the market.
Based on the Distribution Channel Insights, the market is segmented into Offline and Online.
- The offline segment contributed to a larger market share of around 70% in 2021. The major factor that contributed to the major share of the segment includes the high fondness of customers towards offline retail stores for cosmetics & hair care products. Moreover, the easy availability of cosmetics & hair color products in brick-and-mortar retail stores, including department stores, specialty multi-retailers, and salons and spas, supported the expansion of revenue in the offline channel segment.
- Moreover, the online segment is forecast to expand with a significant CAGR of 5.9% over the forecast period. The major factor that propels the market growth includes the increasing e-commerceindustry in emerging economies. In China, India, and emerging economies, the online channel is gaining traction for cosmetics product browsing and shopping. Moreover, the growing partnership between major e-commerce companies and hair care product manufacturers in emerging economies is further projected to provide ample opportunities to the market in the near future.
Hair Color Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East and Africa (MEA)
Key Companies Profile & Market Share Insights
The hair color industry is always changing and updating. To stay head-on in the market, players tend to launch new strategies more frequently. Market players are focusing on increasing investments in advertisements through social sites to increase awareness regarding hair color in the market.
Some of the prominent players operating in the global hair color market include,
- Coty Inc.
- L'Oréal S.A.
- Estée Lauder Companies Inc.
- Revlon, Inc.
- Avon Products Inc.
- Unilever PLC
- Shiseido Company, Limited
- Godrej
- Procter & Gamble
- Combe Inc.
- Henkel AG & Co. KGaA
- Kao Corp
- Hoyu Co., Ltd.
- Cadiveu
Order a free sample PDF of the Hair Color Market Intelligence Study, published by Grand View Research.
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