Global Hair Color Market to Reach Valuation of $33,794.2 Million by 2030 | Astute Analytica

Global hair color market generated a revenue of US$ 17,559.7 million in 2021 and it is estimated to reach the valuation of US$ 33,794.2 million by 2030 at a CAGR of 7.5% during the forecast period, 2022–2030.

New Delhi, Oct. 31, 2022 (GLOBE NEWSWIRE) -- As the world becomes more and more multicultural, people are looking for new hair colors and styles to represent their individuality in the global hair color market. From light Browns to vibrant Reds, there's a color for everyone. In fact, demand for hair color is growing so fast that some salons are struggling to keep up with the demand.

One reason for this increasing demand is because people are increasingly choosing different hair colors to express their personalities and style. For example, those who want to add a little bit of spice or contrast to their look might choose a bright color like red or purple. Alternatively, others may want to go for a more natural look, which is why many women are opting for lighter shades of brown or blonde.

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One of the biggest benefits of this trend is that it's led to an increase in the variety of colors that are available to dye hair. This includes everything from natural shades like brown and blonde, to brighter and more vibrantly colored hues. Because there are so many different brands and types of dye on the global hair color market, there's something for everyone to choose from.

The demand for hair color market has also led to an increase in the number of salon services that offer hair dyeing as a viable option. Nowadays, you can find plenty of salons that specialize in providing this type of service, making it easy for people who want to change their hairstyle or color without having to go through a long and complicated process themselves.

As demand for hair color market continues to increase, it’s important to be aware of the potential risks associated with using these products. For example, some hair dye ingredients such as Ammonia can contain harmful chemicals that can damage the hair shaft and scalp over time. Additionally, some colors may not be suitable for all skin tones, which can result in irritation or even permanent damage. Astute Analytica expect such factors may hinder the global hair color market growth to some extent.

Astute Analytica’s Survey Says 45% Consumers Prefer Blondes Hair Color 

Hair color is one of the most personal choices a person can make. So, it's no surprise that there are a variety of hair color options available to consumers, both online and in brick-and-mortar stores. Astute Analytica has released its latest survey on hair color market and consumers earlier this month, revealing some interesting findings about the popularity of different hair colors among consumers.

First, it was discovered that blondes remain the most popular hair color among women, with 45% of respondents reporting that they prefer blondes. This is followed by brunettes (39%), redheads (36%), and black (34%). These results are consistent with data from other surveys conducted over the years.

Interesting, it was found that gray hair is becoming increasingly popular among men in North America, as 31% of respondents said they would like to have gray hair in the future.

It was also found that nearly half (47%) of all adults aged 18 or older in the global hair color market have at least one hair color other than black, brown, or grey. This includes everything from bright pink to purple to light green. Additionally, nearly three quarters (73%) of adults who have dyed their hair at least once say they would dye it again in the next six months. This indicates that there is a growing trend among consumers to experiment with new hair colors.

The popularity of different hair colors may be attributed to a number of factors, including individual preferences and cultural trends. For example, more people are starting to embrace natural hairstyles, which can include variations such as light brown or gray hair. Additionally, more people in the hair color market are beginning to dye their hair at an earlier age, which might lead them to choose different hair colors down the road.

Despite these positive trends, there are also several challenges that face the hair color industry today. One such challenge is that natural hair colors can be difficult to maintain over time due to fading and damage from UV exposure. Furthermore, some consumers may not be able to find the right shade of hair color or may experience allergic reactions when using certain products.

Top 5 Players Generates More than 45% Revenue of Global Hair Color Market

According to a recent analysis by Astute Analytica, the Top 5 players in the global hair color market generated over 45% of revenue in 2021. These top five companies are L’Oreal, Unilever, Procter & Gamble, Henkel Corp., and Revlon.

This dominance is likely to continue given that these companies have years of experience and a wide range of products to offer Consumers. Furthermore, they are expanding into new geographies at an alarming rate. This expansion is underpinned by strong demand from emerging markets such as China and India where people are increasingly seeking enhanced beauty care options.

L’Oreal was found to be the leading player in the worldwide hair color market, with a market share of over 15%. According to the study, several factors have contributed to L’Oreal’s success in this field. The company has a wide range of products available, from permanent hair dyes and bleaches to haircare treatments. Additionally, it invests in new technology and research efforts to improve its products.  L'Oreal also benefits from strong partnerships with brands such as Schwarzkopf and Paul Mitchell. These partnerships give L'Oreal access to technologies and expertise that help it stay ahead of the curve.

The company is facing increasing competition from ketamine generic companies in the hair color market like China's Shiseido, India's Sun Pharma, and Australia's Oleoscience.

L’Oreal is not alone in enjoying success in the hair color industry. Revlon also made the list of top 5 players. Our study says that new product launches, geographic expansion, and saturation of subsegments will drive growth for the hair color industry during this period. "New product launches will support market growth as companies strive to offer differentiated products.

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Women are Dominating the Hair Color Market but Men are Rapidly Becoming Key Consumers

Global hair color market is a multi-billion-dollar industry that continues to grow at an alarming rate. Wherein, the men hair color segment is is projected to grow at the fastest CAGR over the next decade. The popularity of hair color among men is on the rise, and there are a variety of reasons why this is happening. One reason is that more people are starting to embrace individuality and express themselves in unique ways. Additionally, there has been a growing trend of men wearing their hair in styles that were traditionally thought of as being for women. This means that men are now having access to a wider variety of hair colors, which in turn has led to an increased demand for those colors.

Astute Analytica’s analysts believe that one of the main drivers behind this growth of the hair color market is the increasing popularity of fade hairstyles, particularly among younger men. Men who have fades typically look nicer and have more style than those with solid-color hair. However, choosing the right hair color can be difficult for men because there are so many options available in today’s marketplace.

One of the most interesting findings from this year’s study is that there has been a shift towards darker shades of hair color among MENA clients. Dark shades of brown and black are now among the most popular colors used by MENA men in addition to grey.

Our study estimates that there are 30 million customers in the men's hair color market and their spending will grow at a CAGR of around 7%. The most popular hair colors are black (33%), brown (26%), red (19%) and light brown (11%). In terms of regions, Asia Pacific accounts for the largest share (42%), followed by North America (31%) and Europe (21%).

Top Players in the Global Hair Color Market

  • Henkel Corp.
  • Kao Corp.
  • L’Oréal
  • Coty, Inc.
  • Developlus, Inc.
  • HOYU Corp Ltd.
  • Godrej
  • Revlon
  • World Hair Cosmetics (Asia) Ltd.
  • Amorepacific
  • Unilever Group
  • The Estee Lauder Companies Inc.
  • Combe Inc.
  • Other Prominent Players

Global Hair Color Market Scope

Report AttributeDetails
Market Size Value in 2021US$ 17,559.7 Million
Market Outlook for 2030US$ 33,794.2 Million
Expected CAGR Growth7.5%
Historic Data2017-2020
Base Year2021
Forecast Period2022-2030
Companies Profiled                                                                        Henkel Corp., Kao Corp., L’Oréal, Coty, Inc., Developlus, Inc. , HOYU Corp Ltd., Godrej, Revlon, World Hair Cosmetics (Asia) Ltd., Amorepacific, SHISEIDO CO., LTD., Unilever Group, The Estee Lauder Companies Inc., Combe Inc., Other Prominent Players
Segments CoveredBy Type, By Application, By Form, By Usage, By Region
Geographies CoveredNorth America, Europe, Asia Pacific, Middle East & Africa, South America
Customization OptionsGet your customized report as per your preference. Ask for customization

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About Astute Analytica 

Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

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