According to the report by Fact.MR, the global hair color market is expected to witness robust growth. The market is estimated to register 9.3% CAGR during the forecast period 2017-2022. Owing to the availability of various hair colors made using the natural or plant-based substance, increasing number of people are applying hair colors. Moreover, regulations on the use of various chemicals in hair colors is also one of the reasons for increasing demand and use of hair color. Following insights show how the global hair color market will perform in the coming years.
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Treating hair with several chemical compounds is one of the ancient practices. Traditionally, only one color was applied to the hair, however, a new trend is resulting in the use of various multiple colors to produce gradations and streaks. Highlighting and lowlighting are also modern techniques that make use of several hair colors. With upcoming trends in hair color techniques, the preference for type of hair color is also changing. People are shifting from using chemical hair colors to ammonia-free hair colors to minimize the damage caused. Major market players are also investing in the research and development of new products using a wide range of herbal and plant-based compounds to produce hair colors. However, new chemicals causing less damage is also one of the research areas for manufacturers. People are also allergic to the ingredients, hence, testing of hair color or the chemical used is also being focused on by the manufacturers.
North America is expected to remain dominant in the global hair color market. By the end of 2022, North America hair color market is estimated to reach nearly US$ 800 million revenue. Owing to the presence of the major brands and rising number of startups providing various types of hair colors along with the at-home services are some of the factors resulting in the significant growth of the hair color market in North America.
Europe is expected to witness impressive growth in the global hair color market. Meanwhile, Asia-Pacific Excluding Japan (APEJ) is also anticipated to witness healthy growth during the forecast period.
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Permanent hair color is expected to emerge as the highly preferred hair color product. Permanent hair color is estimated to reach nearly US$ 1,300 million by the end of 2022.
Compared to chemical hair color, natural hair color is expected to gain more traction in the global hair color market. Accounting for nearly half of the revenue share by the end of 2017, natural hair color is estimated to create an incremental opportunity of over US$ 600 million between 2017 and 2022.
Female hair color is expected to experience significant growth than the male hair color. By the end of 2022, female hair color is estimated to reach nearly US$ 1,200 million revenue.
Sales of hair color through specialty stores is expected to be the highest. Accounting for nearly one-third of the revenue share by the end of 2017, specialty stores are estimated to create an incremental opportunity of over US$ 300 million between 2017 and 2022.
The report also offers a detailed profile of all the leading players in the global market for hair color, which will remain active through 2022. These include companies such as Henkel AG & Co. KGaA, Kao Corporation, L’Oréal S.A, Coty Inc., Avon Products, Inc., Combe Incorporated, Estee Lauder Cos., Inc., Godrej Consumer Products Limited, Shiseido Company, Limited, and Revlon, Inc.
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