USD 4.21 billion
Report ID: SQSG30L2034 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 178 | Figures: 79
Hair Color Market size was valued at USD 4.21 billion in 2021 and is poised to grow from USD 4.5 billion in 2022 to USD 7.01 billion by 2030, growing at a CAGR of 6.54% in the forecast period (2023-2030).
The market for hair color products is being driven by a number of important factors, including the increasing urbanization rate, changing lifestyles, the rise in the popularity of hair highlighting, and concerns over the health of one's hair. Additionally, the market for hair color products will see new growth prospects due to increased technological breakthroughs, modernized production methods, and increased demand from emerging nations throughout the forecast period.
Everyone has coloured their hair at least once in their lifetime. The modern population buys hair color for a variety of reasons, including experimenting with different hues, hiding gray hairs as people age or prematurely age, or both. Like eye color, hair color is a key component of your appearance and is frequently changed on a temporary basis by many people. As we live in a connected society with social media, people are becoming more adventurous with their hair colors. Many hair and makeup artists change their hair color for creative makeup as the beauty industry becomes more prominent. There are more reasons than ever before to purchase hair color.
The hair color industry is a significant market in the personal care and cosmetics business. Hair dye has been around for many years. Throughout history, people have changed their hair color. The market and related trends have undergone several changes. People still enjoy changing their hair color nowadays, and they employ a variety of formulas to accomplish it. The market has catered to numerous beauty fads and trends, from a straightforward color change to intricate hair color trends. Since trends and aesthetic standards are constantly changing, the hair color market is a very vast area for business. All these factors together are expected to support the growth of the hair color market over the forecast period.
US Hair Color Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 4.21 billion
Permanent Hair Color
Permanent Hair Color
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The Global Hair Color Market is segmented based on product type, usage, composition, application, distribution channel, end-user and region. Based on Product Type, it is categorized into Powder Hair Color\Hair Dye, Crème Form, Bleachers, Highlighters, and Tone-On-Tone Colorants. Based on Usage, it is categorized into Permanent Hair Color, Semi-Permanent Hair Color, Temporary Hair Color, Hair Highlights and Bleach. Based on Composition, it is categorized into Organic/Natural/Herbal, and Chemical. Based on Application, it is categorized into Total Gray Coverage, Roots Touch-Up, and Highlighting. Based on Distribution Channel, it is categorized into Offline and Online. The Offline segment is further sub-segmented into Warehouse Clubs, Convenience Stores, Specialist Retailers, Supermarkets and Hypermarkets, Variety Stores, and Department Stores. Based on End-user, Hair Color Market is categorized into Men and Women. Based on region, it is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Hair Color Market Analysis by Product Type
On the basis of product type, the permanent hair color segment is currently dominating the global hair color market. However, due to color experimentation, the temporary category will experience significant increase during the predicted period. From 2022 to 2028, the temporary market is anticipated to grow at the highest CAGR of 6.2%. Due to the increased popularity of temporary hair dyes among middle-class consumers and their lower cost compared to permanent hair colors, the industry is expanding. Furthermore, during the projected period, the market will rise due to how simple it is to apply temporary hair color.
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Based on the region, the North American region currently dominates the global hair color market. The US 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 industry in the area include the presence of several celebrities and the expanding trend of celebrity endorsements for hair color products.
The European region is expected to show significant growth over the forecast period. Germany has remained one of the region's most significant markets for hair color, and it is expected to represent more than one-third of the European market's value in 2021. This is as a result of the fact that, according to a Fact.MR survey, more than 10% of males and 60% of women in Germany color their hair annually. In a recently released study report by Fact.MR, Germany is rated as one of the key nations. This analysis predicts that by 2031, Germany would have an absolute monetary opportunity of about US$ 1.3 billion.
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Hair Color Market Drivers
Hair Color Market Restraints
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Key market players are employing a variety of promotional platforms, including television advertisements, digital marketing, and social media campaigns, among others, to encourage people to buy their hair color products on a regular basis. Additionally, major firms have been advertising their goods in malls, on television, and on billboards, emphasizing their special qualities and advantages while also appealing to consumers' sentiments. In the majority of these commercials, well-known celebrities act as brand ambassadors by portraying themselves as regular consumers of these products and enticing viewers to give them a try. This has continued to be the best way to encourage people to use hair color products frequently.
Hair Color Market Top Players Company Profiles
Hair Color Market Recent Developments
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According to the analysis, the global hair color market is currently led by countries in the North American region, due to an increase in demand for hair color items in this region. Along with this, the temporary hair color segment is projected to lead the market due to the increasing popularity of color experimentation, over the forecast period.
|Market size value in 2021||USD 4.21 billion|
|Market size value in 2030||USD 4.5 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Hair Color Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Hair Color Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Hair Color Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Hair Color Market for additional countries.
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