ID: MRFR/CR/6350-CR | 100 Pages | Published By Snehal Singh on September 2022
Hair Color Market Size was valued at USD 4.5 billion in 2022. The Hair Color market industry is projected to grow from USD 4.7 Billion in 2023 to USD 7.01 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.54% during the forecast period (2022 - 2030). Growing hair-highlight trends, changing lifestyles, an expanding market for salon services, and innovative salon tools that make using hair care products easier would all increase demand for hair colors and other related products. The rise in consumer hair-related problems is a significant additional market drivers for the expansion of hair color market.
Product Type: Secondary Research, Primary Research, MRFR Database and Analyst Review
People are becoming more conscious about hygiene, grooming, and personal aesthetics over the last few years. An increasing population concerned with looking good and self-grooming is anticipated to drive the market. For decades, the grooming market has been dominated by products for women, but recently, the male-identifying population has acquired a huge market in the beauty industry. Traditionally, men have been less worried about their grooming habits. They are no longer limiting themselves to shaving products and deodorants but are becoming habitual users of grooming products such as moisturizers, facial scrubs, and hair care products, among others.
Additionally, the rise in consumer hair-related problems is a significant additional factor. As a result, many new products have been developed to address consumers' changing and prevalent tastes and preferences, helping to meet the growing demand for hair care products. Another major factor is the increase in consumer hair-related issues, which has led to several product innovations that accommodate the prevalent and changing tastes and preferences of consumers, thus facilitating the demand for hair care products has enhanced the market CAGR across the globe in recent years.
The Hair Color market segmentation based on product Product Type the hair color market has been segmented into permanent hair color, demi-permanent hair color, semi-permanent hair color, temporary hair color, root touch-up, and others. The permanent hair color segment accounted for the largest market share of 50% in 2020. However, the demi-permanent hair color segment is expected to register the highest CAGR of 6.83% during the forecast period. Share in 2021 contribution to around ~66-68% with respect to the Hair Color market revenue. Hence due to the above-given reasons, the permanent hair color segment dominates the market growth during the forecasted period.
The Hair Color market segmentation is based on category. The hair color market has been segmented into conventional and natural & organic. The conventional segment accounted for a larger market share of 89.56% in 2020. However, the natural & organic segment is expected to register a higher CAGR of 6.98% during the forecast period, as most hair dyes contain dangerous substances like ammonia, peroxide, and resorcinol. They are damaging to your skin and hair. They smell awful, which is the worst part. When you apply them over your head, they give you a bad feeling. Breakage is the main concern for anyone considering using hair coloring products. Hence, rising Categories of metal material implants for Hair Color positively impact the market growth.
The Hair Color market data has been bifurcated. Based on nature, the hair color market has been segmented into professional and consumer (DIY). The professional segment accounted for a larger market share of 73.82% in 2020 and is projected to register a decent CAGR of 6.48% during the forecast period. However, the consumer (DIY) segment is expected to register a higher CAGR of 6.72% during the forecast period. This is because those who have previously colored their hair at home with DIY techniques have probably run into one or more issues that lead to an undesirable color.
Figure 2: Hair Color Market by Product Type, 2022 & 2030 (USD Billion)
Product Type: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Based on End Users, the Hair Color industry has been segmented into females, males and unisex. In 2023, the female segment is expected to account for the largest share of the hair care market. The large market share of this segment is attributed to the availability of hair care products specifically premeditated for women, increasing hair styling trends, and the high focus of women on hair care associated with other demographic groups.
Based on Form, the Hair Color industry has been segmented into Powder, Cream & Gel. The cream & gel segment accounted for the largest market share of 53.82% in 2020 and is projected to register a decent CAGR of 5.8% during the forecast period. Being incredibly versatile is one of the main advantages of cream hair dye. The user has the option of using a darker cream color for a more dramatic effect or using it to create a natural-looking appearance. The user can also use various shades to create various looks. People who are sensitive to caustic chemicals should use this kind of dye. Additionally, unlike traditional dyes, this hair color does not require conditioning treatments. Because of this, using a cream form rather than other types allows consumers to save time and money.
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific Hair Color market accounted for USD 2.061 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. This is because it is anticipated to be rising consumer spending on lifestyle goods and consumer awareness of product use. The expansion of the market in the region is being aided by manufacturers who are launching new products in these nations. The Asia-Pacific market was dominated by China in 2020 and is anticipated to continue to be so throughout the duration of the study. The market in India, however, is anticipated to grow at the highest rate of 7.00% during the anticipated period.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: HAIR COLOR MARKET SHARE BY REGION 2022 (%)
Product Type: Secondary Research, Primary Research, MRFR Database and Analyst Review
North America Hair Color market accounts for the second-largest market share due to the availability of cutting-edge treatment facilities, as the rapid uptake of hair color by the populace is responsible for the regional market's expansion. Company Coty. Among the most important businesses operating in the area is Coombe Incorporated. The rising per capita disposable income and rising self-grooming trends in the populace are propelling market expansion. Moreover, Canada Tree Nuts market held the largest market share, and the US Tree Nuts market was the fastest-growing market in the North American region.
The Europe Hair Color Market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to the expansion of the market in the region being aided by manufacturers who are launching new products in these nations. Further, the Germany Hair Color market held the largest market share, and the UK Hair Color market was the fastest-growing market in the European region.
Major market players are spending a lot on R&D to increase their product lines, which will help the Hair Color market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Hair Color industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies manufacturers adopt in the Hair Color industry to benefit clients and expand the market sector is manufacturing locally to reduce operating costs. In recent years, the Hair Color industry has provided medicine with some of the most significant benefits. In the Hair Color market, major players such as L'Oréal S.A. (France), Kao Corporation (Japan), Henkel AG & Co. KGaA (Germany) and others are working on expanding the market demand by investing in research and development activities.
L'Oréal S.A. (France) With Holla back, an NGO and authority on street harassment, L'Oréal Paris has formed a alliance. Their 5D-based intervention strategy has reduced sexual violence on American college campuses by 17%. Breakthrough has spent more than 20 years addressing the cultural norms that support harmful, discriminatory practices to put an end to violence and discrimination against women and girls. The organization uses media, the arts, and popular culture to create non-threatening counter-narratives that motivate people to take action and stop violence against women. Deep cultural insight is also used by the organization.
Also, Revlon Inc. (US) possesses a portfolio of iconic brands that transform the lives of women and men all over the world. Through a diverse portfolio of 15 brands, our company produces and markets color cosmetics, hair color and care, skin care, beauty care, and fragrances that are sold in more than 150 countries.
January 2022: the iconic Creamy Bubble color range from Liese, Singapore, was reintroduced with new packaging that connects to a cutting-edge virtual experience. Natural brown and trendy colors are included in the Liese Creamy Bubble Color line. Three brand-new, modern hair coolers are being released in conjunction with the relaunch: Chiffon Brown, Berry Pink, and Olive Ash.
June 2022: With the launch of the new L'Oréal Paris Men Expert One-Twist Hair Color, the brand's first permanent hair color technique created specifically for men in the hair color market, covering up greys will be easier, quicker, and more durable than ever.
|Market Size 2022||USD 4.5 billion|
|Market Size 2023||4.7 billion|
|Market Size 2030||7.01 billion|
|Compound Annual Growth Rate (CAGR)||6.54% (2022-2030)|
|Market Forecast Period||2022-2030|
|Historical Data||2018 & 2020|
|Market Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Product Type, Category, Nature, Form, End-Users and Region|
|Geographies Covered||North America, Europe, Asia Pacific, and the Rest of the World|
|Countries Covered||The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil|
|Key Companies Profiled||L'Oréal S.A. (France), Kao Corporation (Japan), Henkel AG & Co. KGaA (Germany), Revlon Inc. (US), Coty Inc. (UK), Estée Lauder Companies Inc. (US), Combe Incorporated (US), Hoyu Co. Ltd (Japan), Godrej Consumer Products Limited (India), Davines S.p.A. (Italy)|
|Key Market Opportunities||Media Promotion and Celebrity Endorsements in Hair Color Market|
|Key Market Dynamics||Rising Inclination Toward Self-care and Grooming|
The market size was valued at USD 4.5 Billion in 2022.
The market is projected to grow at a CAGR of 6.54% during the forecast period, 2022-2030.
Asia Pacific had the largest share of the market
The key players in the market are L'Oréal S.A. (France), Kao Corporation (Japan), Henkel AG & Co. KGaA (Germany), Revlon Inc. (US), Coty Inc. (UK), Estée Lauder Companies Inc. (US)
The Permanent Hair Color category dominated the market in 2022.
Cream & Gel had the largest share in the market.