The global hair colour market is expected to reach a value of US$ 21.4 billion in 2021, with a CAGR of around 5% over the next ten years.
All salons were forced to close due to the COVID-19 pandemic, which shows a decline in the need for professional hair colouring. Major corporations are investing in the creation of DIY-based, professional hair colours that can be used at home as a defence against this. Due to its many advantages over synthetic hair colour, consumers’ desire for natural hair colour has rapidly increased.
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Competitive Landscape:
Fact.MR has profiled the following prominent hair color manufacturers in its report:
- Kao Corporation,
- Henkel AG & Co. KGaA,
- L’Oréal S.A,
- Avon Products Inc.,
- Estee Lauder Companies,
- Coty Inc.,
- Combe Incorporated,
- Revlon, Inc.,
- Godrej Consumer Products Limited,
- Shiseido Company Limited
- Uniliver
In order to maintain their market position, increase their global footprint, and neutralise competition in high-potential locations, key market players have been focusing on a blend of organic and inorganic strategies.
- In May, 2020 Coty agreed to sell a majority of its Beauty and Retail Hair Businesses, including the ghd brands, Clairol, Wella and OPI for US$ 4.3 billion to KKR. Under the terms of the agreement, Coty will spin off its Professional Beauty Division as a separate company, with KKR taking a 60% stake and Coty keeping the remaining 40%.
- On February 1, 2021, L’Oréal has completed the acquisition of Takami Co. and added vital products from Takami Co. to its portfolio.
Similarly, recent developments related to companies manufacturing hair color have been tracked by the team at Fact.MR, which are available in the full report.
Market Drivers:
- Changing fashion trends and consumer preferences: Fashion trends and consumer preferences play a crucial role in driving the hair color market. Consumers are increasingly looking for ways to express their individuality and enhance their personal style. Hair coloring allows them to experiment with different colors, shades, and techniques to achieve their desired look and stay in line with the latest trends.
- Growing aging population: The global population is aging, and with age, natural hair color tends to fade or turn gray. This has led to a growing demand for hair color products among older individuals who want to maintain a youthful appearance and cover up gray hair. The aging population represents a significant consumer segment for hair color products, driving market growth.
- Increasing disposable income: Rising disposable income levels, particularly in emerging economies, have resulted in higher consumer spending on personal grooming and beauty products. Hair color is seen as an essential part of enhancing one’s appearance, and as disposable incomes increase, consumers are willing to invest in professional hair color treatments or high-quality hair color products.
- Influence of social media and digital platforms: Social media platforms, beauty influencers, and digital media have a profound impact on consumer behavior and trends. People are increasingly exposed to different hair color ideas, tutorials, and product recommendations through social media platforms. This exposure drives the demand for hair color products as consumers seek to emulate the looks they see online.
- Technological advancements in hair color products: The hair color industry continues to innovate and develop new technologies to offer a wider range of colors, improved formulations, and longer-lasting results. Technological advancements, such as ammonia-free formulations, organic and natural ingredients, and innovative application methods, are attracting consumers who are conscious about hair health and prefer safer and more sustainable options.
· By Product
- Permanent Hair Color
- Semi-permanent Hair Color
- Demi-permanent Hair Color
- Bleach-highlights
- Temporary Hair Color
· By Nature
- Natural Hair Color
- Chemical Hair Color
· By Gender
- Hair Color for Males
- Hair Color for Females
- Unisex Hair Color
· By Distribution Channel
- Online Sales of Hair Color
- Hair Color Sold at Specialty Stores
- Hair Color Sold at Departmental Stores
- Hair Color Sold at Hypermarkets, Supermarkets, and Convenience Stores
- Hair Color Sold at Salons
- Others
· By Region
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
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Questionnaire answered in the Market outlook Report of Hair Color include:
- What is the key strategy deployed by large players to maximize Hair Color growth?
- What are the main challenges faced by players in the Hair Color Demand?
- With the advent of technological advancement, how will the Hair Color landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Hair Color size?
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