New York, US, March 09, 2023 (GLOBE NEWSWIRE) -- Hair Color Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), Hair Color Market Information By Product Type, Category, Nature, Forms, End User, And Region - Forecast till 2030"; the market will reach USD 7.01 billion by 2030 at a 6.54% CAGR.

Market Synopsis

A substance used on hair with the primary goal of giving them color is known as hair color. They are typically used to cover up gray hair, draw attention to a specific area of the hair, restore the hair's original care, and enhance its beauty. The market for hair color products is being driven, among other things, by factors such as the rise in urbanization and changing lifestyles, the trend of hair highlighting, and an increase in consumer concern over the health of their hair. Also, during the forecasted period, increased technological breakthroughs, modernized production methods, and increased demand from emerging nations will all foster new market prospects for hair color products.

Direct and oxidative colors are the two types of hair color products. Products for coloring hair assist in caring for the scalp and hair. Due to increased knowledge of the negative consequences of the dangerous chemical compounds in hair colors, there has been an improvement in the need for organic and natural hair care products in recent years. The chemical-free organic and natural hair color products don't harm consumers' overall health or their hair. Plant-based hair dyes and coloring solutions are becoming more and more popular. The ammonia-free herbal and natural hair color products have been deemed safer than their synthetic competitors.

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Report Scope:

Report Attribute	Details
Market Size in 2030	USD 7.01 billion
CAGR	6.54%
Base Year	2021
Forecast Period	2022-2030
Historical Data	2020
Forecast Units	Value (USD billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Product Type, Category, Nature, Forms, End User, And Region
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers	Rising Proclivity Toward Self-care and Grooming
rise in consumer hair-related problems

Market Competitive Landscape:

The prominent companies in the hair color market are:

• L'Oreal S.A. (France)
• Estee Lauder Companies Inc. (US)
• Combe Incorporated (U.S.)
• Hoyu Co. Ltd (Japan)
• Kao Corporation (Japan)
• Henkel AG & Co. KGaA (Germany)
• Revlon Inc. (U.S.)
• Coty Inc. (U.K.)
• Godrej Consumer Products Limited (India)
• Davines S.p.A. (Italy)

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Market U.S.P. Covered:

Market Drivers:

Over the past few years, people have paid more attention to their cleanliness, grooming, and appearance. The population's growing concern with appearance and self-care will drive the industry. Women's goods have dominated the grooming business for decades, but the male population has gradually gained a sizable niche in the cosmetics sector. Men have typically been less concerned with their grooming practices. They no longer use deodorants and shaving cream; they now regularly utilize additional grooming goods, including moisturizers, facial cleansers, and hair care items. An important additional reason is an increase in consumer hair-related issues. Also, specialist shops and internet shopping websites sell it. In addition, despite the existing wide-ranging product portfolios, they are concentrating on creating new products to keep consumers interested.

In order to maintain a strong online presence, which is essential for developing the quality hair colorants category, the top companies are using powerful digital resources. As a result, various new products have been created to satisfy consumers' more popular and changing tastes and preferences, contributing to the interest in hair care products. Also, the growing worldwide trend of young people purchasing personal care products on online portals fuels market expansion. The segment growth is attributed to consumers' rising preferences brought on by simplicity, convenience, speed, and price comparison. Because of the extensive development and research that goes into creating premium hair colors and tints and the more expensive cost of the components used in the formulation, these products are rather pricey. Professionals in hair styling, salons, and spas increasingly treat customers' hair using products from this area.

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Market Restraints:

The primary factor impeding market expansion and adding to challenges for the market for hair color products during the projected period is the rigorous government regulations on using chemicals in creating hair color.

COVID 19 Analysis

Government-imposed lockdowns and limitations due to the COVID-19 epidemic have caused the cancellation of community gatherings, runway shows, and unnecessary travel. Since most retail establishments were shuttered during the lockdown, it also impacted the offline sales of beauty products. Also, the COVID-19 pandemic resulted in a drop in sales revenue for hair color products among the leading market participants, which had an additional negative effect. However, due to resumed operations, offline retail trade, and the start of fashion events worldwide, the international hair color industry is anticipated to revive and have considerable growth in the future. Many manufacturers and sellers have also switched to online sales due to the COVID-19 epidemic, which is anticipated to increase the segment's growth during the forecast period.

Market Segmentation

By nature, the market includes professionals and consumers (DIY). By end user, the market includes men, women, and unisex. By category, the market includes conventional and, natural & organic. By product type, the market includes semi-permanent hair color, demi-permanent hair color, semi-permanent hair color, temporary hair color, permanent hair color, and root touch-ups. By forms, the market includes powder, cream & gel.

Regional Insights

North America controlled the global market. The U.S. is actively supporting the rise in market revenue. One of the elements fueling market expansion is the existence of well-known brands. Other variables that influence the industry include the presence of several celebrities and the expanding trend of influencer marketing for hair color products. Because of the considerable effort that goes into creating premium color schemes and dyes and the more expensive cost of the components used in the formulation, these products are rather pricey. In addition, despite the existing wide-ranging product portfolios, they are concentrating on creating new products to keep consumers interested.

In order to maintain a strong presence online, which is essential for developing the quality hair colorants category, the top companies are using powerful digital resources. Products for coloring hair are becoming incredibly popular across all consumer segments in the area. Their popularity is primarily attributable to strong marketing campaigns targeting young consumers. By 2030, the hair color market in Europe is anticipated to experience the fastest CAGR development. This is due to manufacturers supporting the growth of the region's market by introducing new products in such countries. The hair color market in Germany had the largest share of the market, and the hair color market in the U.K. had the quickest expansion rate in Europe.

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