The report highlights key factors driving the market and prominent players along with their developments in the market.
Hair colors are hair dyes that are applied either for covering grey hair or for changing the natural color of hair. There are basically 3 types of hair colors: permanent, semi-permanent, and temporary. Permanent hair colors permanently change the natural hair color and usually give the best results. Hair colors are available in various color shades such as black, brown, and burgundy. Consumers are highly concerned about their appearance which is creating significant demand for personal grooming products. This factor is driving the hair color market. Moreover, the rising aging population is also one of the major factors driving the demand for hair color and dyes.
Rising demand for hair color from the aging population is driving the hair color market growth. According to the World Population Ageing Review of 2019, there are more than 703 million people aged 65 or over in the world. The world population is aging rapidly due to declining fertility rates and increasing longevity or life expectancy. The aging population is widely using hair color to cover their grey hair. This factor is significantly driving the demand for hair color. Further, due to lifestyle changes and nutritional deficiencies, there is a rising rate of premature greying. People are witnessing early greying of hair due to daily stress, poor dietary habits, smoking, and certain medical conditions. This factor is also expected to boost the demand for hair colors, driving the hair color market growth.
The “Global Hair Color Market” is segmented based on product type, type, distribution channel, and geography. Based on product type, the hair color market is segmented into permanent, semi-permanent, and temporary. Based on type, the hair color market is segmented into powder, cream, and others. Based on distribution channels, the hair color market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The hair color market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America)
Based on distribution channels, the hair color market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The supermarkets and hypermarkets segment holds a significant share of the hair color market and the online retail segment is expected to register significant growth over the forecast period. Supermarkets and hypermarkets are large retail establishments that stock a variety of products of local as well as premium brands at affordable prices. Moreover, these stores have qualified staff that assist in finding products according to customer requirements. Additionally, these stores have separate sections of cosmetics and personal care products that help customers to shop conveniently and hassle-free. These factors are driving the sales of hair color products through supermarkets and hypermarkets.
Based on type, the hair color market is segmented into powder, cream, and others. in 2022, the powder segment held the largest market share. A large number of consumers prefer cream-based hair color due to their ease of application. Moreover, they contain moisturizing ingredients that make the hair soft and add a shine to the hair. These factors are significantly driving the segment growth.
Based on geography, the hair color market is divided into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. The global hair color market was dominated by Asia Pacific which accounted for US$ 7,741.75 Million in 2022. North America is a second major contributor holding more than 26% share in the global market. The cosmetic industry in the Asia Pacific is growing, with rising demand for premium products and an increase in the number of working women. Additionally, the aging population in the region is further contributing to the growth of the hair color market. According to the World Health Organization (WHO), China has one of the fastest-growing aging populations in the world. The population of people over 60 years old in China is projected to reach 28% by 2040, due to longer life expectancy and declining fertility rates. Hence, the increasing demand for personal care coupled with the increasing number of working women and the aging population is expected to drive the hair color market growth across Asia Pacific.
Various initiatives taken by the key players operating in the hair color market are listed below:
The regional trends and factors influencing the Hair Color Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Hair Color Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 23.76 Billion |
| Market Size by 2028 | US$ 35.2 Billion |
| Global CAGR (2022 - 2028) | 6.8% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Hair Color Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Hair Color Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The COVID-19 pandemic affected almost all industries in various countries. Lockdowns, travel restrictions, and business shutdowns in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA) hampered the growth of several industries, including the consumer goods industry. The shutdown of manufacturing units disturbed global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies witnessed delays in product deliveries and a slump in sales of their products in 2020. Due to the pandemic-induced economic recession, consumers became more cautious and selective in their purchasing decisions. However, the pandemic caused temporary closures of beauty salons, which forced many consumers to do their own hair color at home. This increased the demand for hair colors across the residential sector. Also, as people were mandated to stay at home, they engaged in various DIY activities which positively impacted the hair color sales. However, as supermarkets, hypermarkets, shopping malls, and stores that sell non-essential products remained shut during the initial phase of the pandemic, people relied on e-commerce retail channels such as Amazon.com, eBay, and SnapDeal.
By the end of 2021, many countries were fully vaccinated, and governments announced relaxation in certain regulations including lockdowns and travel bans. Various stores including supermarkets, departmental stores, shopping malls, and mom-and-pop stores were permitted to reopen which also increased the sale of hair color products. All these factors positively influenced the hair color market growth.
Some of the prominent players operating in the global hair color market include Arctic Fox; Coty Inc.; Henkel AG and Co., KGAA; and Kao Singapore Pte. Ltd.; Revlon, Inc.; Hygienic Research Institute Pvt. Ltd; L’oréal S.A.; Wella Operations US LLC; Unilever PLC; and PZ Cussons Beauty LLP; among others. These companies are highly involved in merger and acquisition activities to expand their geographic footprints and enhance their expertise. Additionally, these companies are adopting innovative marketing strategies such as digital marketing, social media marketing, and innovative ad campaigns to enhance their brand image in the minds of potential consumers.
In 2021, the cream segment held the largest market share of the global hair color market. Creams are easy to use and manufacturers are offering hair color creams free of ammonia.
In 2021, the permanent segment held the largest market share of the global hair color market. Permanent hair colors do not wash out and they look more natural.
The major players operating in the hair color market are Arctic Fox, Coty Inc., Henkel AG & Co. KGaA, Kao Singapore Pte Ltd., L’Oreal Groupe, Revlon, Hygienic Research Institute Pvt. Ltd. (Brand-Streax), PZ Cussons Beauty LLP, Unilever Plc, and Wella Operations US LLC.
Increased incidence of grey hair among the young working population, due to stress and improper diet, is one of the major driving factors driving the market growth. Permanent hair colorants offer long-lasting hair color, due to which they have a high demand among the consumers. Moreover, consumers are shifting towards the organic and natural hair colors. To tackle this challenge, manufacturers are coming up with hair colors that are ammonia free. These are some of the factors driving the hair color market growth.
In 2021, Asia-Pacific accounted for the largest share of the global hair color market. An aging population and the changing fashion trends have fueled the growth of the Asia Pacific market in 2021.
During the forecast period, the online retail segment is expected to be the fastest-growing segment. Increasing adoption of technology is allowing the online retail segment to be more efficient and reachable. Moreover, increasing number of online shoppers is expected to propel the growth of online shopping segment.