What is the global market size of Hair Color Market?

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).

Global Hair Color Market Size, Share, Growth Analysis, By Product Type(Powder Hair Color\Hair Dye, Crème Form), By Usage(Permanent Hair Color, Semi-Permanent Hair Color), By Composition(Organic/Natural/Herbal, Chemical), By Application(Total Gray Coverage, Roots Touch-Up), By Distribution Channel(Offline (Warehouse Clubs, Convenience Stores), By End-user(Men, Women) - Industry Forecast 2024-2031

Report ID: SQMIG30L2211 | Region: Global | Published Date: February, 2024
Pages: 265 | Tables: 178 | Figures: 79

Global Hair Color Market Insights

Hair Color Market size was valued at USD 4.21 billion in 2019 and is poised to grow from USD 4.5 billion in 2023 to USD 7.01 billion by 2031, growing at a CAGR of 6.54% in the forecast period (2024-2031).

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 Hair Color Market Report Snapshots

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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. 'L'Oreal', 'Procter & Gamble', 'Coty Inc.', 'Henkel AG & Co. KGaA', 'Kao Corporation', 'Revlon Inc.', 'Avon Products Inc.', 'Amorepacific Group', 'Godrej Consumer Products Limited', 'Shiseido Company Limited', 'Estee Lauder Companies Inc.', 'Wella Professionals', 'LVMH Moet Hennessy Louis Vuitton SE', 'Unilever', 'Sally Beauty Holdings Inc.', 'Toni & Guy', 'Schwarzkopf Professional', 'Farouk Systems Inc.', 'Keune Haircosmetics', 'John Paul Mitchell Systems'

Rising developments in production process and format to support the market growth: Innovations in the product's formulation, content, and format for sale in the market are what drive the market. Hair color formulation is done in two steps. The creation of the product basis is dealt with in the first stage, and the formulation of the desired shade is dealt with in the second. Special consideration must be given to elements including dye stability, color wearability on hair, light fading, and product rheology during the formulation process. The finished product's hues are where the ingenuity is visible. The majority of hair color producers currently create hues that assist brighten hair, which adds to the product's popularity among consumers. The next type of hair color is one that makes the promise to be herbal, simple to use, and long-lasting. The price quotient of the market has been driven by these developments, which have increased consumer acquisition, product visibility, and adoption rates.

Increasing popularity of creative makeup is expected to positively impact the hair color market : The adoption of artistic makeup is one of the key trends that the hair color market will encounter in the upcoming decade. Hair and makeup styling have emerged as significant industries where individuals are attempting to innovate. There is a tremendous market for transient, distinctive hair colors since makeup artists and hairstylists are striving for more daring, bizarre appearances. To increase the revenue of the temporary hair color market, major corporations can introduce bizarre, unusual temporary hair colors. Numerous new hair trends will increase demand for hair color, which hair color manufacturers must meet.

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.

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Global Hair Color Market Insights

Global Hair Color Market Report Snapshots

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