INCREASED DEMAND FOR HAIR COLOR BY THE AGEING POPULATION
Hair colors are cosmetic products used for changing the color of the hair. These products are categorized into three categories according to the color’s application on the hair, i.e., permanent, semi-permanent, and temporary. They are available in a variety of colors. Hair coloring can be done at home or by a professional hairdresser. There are various styles for coloring the hair, for instance, coloring completely, coloring some specific part of hair called highlighting, and nowadays Ombre hair system is popular, in which the bottom section of hair looks lighter than the top section.
Due to an ageing population across the globe, the increased expenditure on hair care products, such as hair color, is one of the market’s significant growth factors. Furthermore, considerable product innovation by the market’s leading competitors is expected to generate significant prospects. For example, Loreal SA is a leading participant in the hair color market that has introduced a variety of long-lasting hair colors in natural color tones. Hair color is available in pre-measured packets that are easy to use. The market is driven by innovations in product composition, formulation, and the format through which it is sold in the market. The creation of hair color takes place in two stages.
Some of the primary key players operating in the global hair color market include Arctic Fox, Coty Inc., Henkel AG & Co. KGaA, Kao Singapore Pte Ltd., L’Oreal Groupe, Revlon, Hygienic Research Institute Pvt. Ltd., PZ Cussons Beauty LLP, Unilever Plc, and Wella Operations US LLC. The major players in the hair color market are focusing on strategies such as research & development and new product development to increase the global geographical presence and consumer base.
