Pune India, Dec. 28, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Hair color market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the hair color market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product, end user, distribution channel, and region. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global hair color market are Coty Inc., L'Oréal S.A., Estée Lauder Companies Inc., Revlon, Inc., Avon Products Inc., Unilever PLC, Shiseido Company, Limited, Godrej, Procter & Gamble, Combe Inc., Henkel AG & Co. KGaA, Kao Corp, Hoyu Co., Ltd., Cadiveu among others. To achieve a substantial market share in the worldwide hair color market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Despite the fact that hair colour solutions are offered in a range of compositions, components, and colours, permanent hair colour, semi-permanent hair colour, temporary hair colour, hair highlights, and bleach are the four various sorts of hair colour products based on the application. Amazingly unique colours like purple, green, blue, orange, pink, red, and yellow are classified as novelty colours since they are so rarely used to dye hair. The considerable growth in the popularity of hair colouring combined with the global ageing population is one of the main factors fueling the market expansion over the forecast period. The market is expanding as a result of significant product innovation in product mix and formats in addition to these factors. The negative effects of regular hair dye use, however, are also projected to potentially impede market growth during the projection period. Furthermore, it's projected that during the forecast period, rising brand recognition and the effect of hair colouring products on social media platforms would further propel market expansion. Consumer awareness of the ingredients in hair colour and their effects on hair is rising, which supports consumer preference and supports market expansion. The ageing population is also having a significant impact on the business because older people frequently colour their hair.
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Scope of Hair Color Market Report
| Report Metric | Information |
| Study Period | 2021-2029 |
| Base Year | 2021 |
| Forecast Period | 2022-2029 |
| Market Share Unit | USD Billion |
| Segments Covered | Product, End-User, Distribution Channel, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Coty Inc., L'Oréal S.A., Estée Lauder Companies Inc., Revlon, Inc., Avon Products Inc., Unilever PLC, Shiseido Company, Limited, Godrej, Procter & Gamble, Combe Inc., Henkel AG & Co. KGaA, Kao Corp, Hoyu Co., Ltd., Cadiveu among others. |
Segmentation Analysis
The Permanent segment is expected to be the fastest-growing segment in 2021.
The product segment is Permanent, Temporary, and Others. The permanent segment is expected to witness the highest growth rate during the forecast period. Because there are so many natural colours available, the major trend toward permanent hair colour has significantly increased its market share. Permanent hair colour also delivers a more natural appearance when compared to alternate hair hues.
Women segment is expected to be the fastest-growing segment in 2021.
The end user segment includes Men and Women. The women segment is expected to witness the highest growth rate during the forecast period. The strong trend for hair colouring in women is one of the key factors that has contributed to the largest market share. The largest market share is also influenced by the fact that women spend more money on hair care and cosmetics than men do. According to a poll, around 75% of women use hair colour annually in the US. As a result, a sizable percentage of women use various hair colouring products globally, which additionally helps explain why this sector has the greatest market share.
Offline segment is expected to be the fastest-growing segment in 2021.
The distribution channel segment includes Offline and Online. The offline segment is expected to witness the highest growth rate during the forecast period. The segment's sizable share was largely due to the strong level of customer loyalty to offline retail stores that sell cosmetics and hair care products. The easy accessibility of cosmetics and hair colour products in brick-and-mortar retail outlets such as department stores, specialized multi-retailers, and salons and spas also contributed to the increase of sales in the offline channel sector.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the hair color include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
- The Asia Pacific region witnessed a major share. The key forces behind market expansion are the increased consumer spending on hair care products and the expanding popularity of high-end hair color products among local celebrities. The market would also expand during the course of the anticipated period as a result of the noticeable increase in per capita income in developing countries like China, India, and others. Additionally, it is anticipated that the personal care sector in emerging countries would grow significantly over the course of the forecast period, offering significant opportunities for the market to grow.
Country Analysis
- Germany
Germany's hair color market size was valued at USD O.39 billion in 2021 and is expected to reach USD 0.57 billion by 2029, at a CAGR of 4.9% from 2022 to 2029.
The majority of hair colour purchases were reportedly made through the offline channel, with specialist stores earning the most money. Additionally, sales in supermarkets, hypermarkets, and convenience stores contributed significantly to the market's revenue.
- China
China’s hair color market size was valued at USD 0.52 billion in 2021 and is expected to reach USD 0/81 billion by 2029, at a CAGR of 5.7% from 2022 to 2029. Urbanization-related rapid lifestyle change in emerging nations drives up demand for trendy goods like hair colourants. The millennial inhabitants of the area decide to colour their hair to stay current with fashion trends and are greatly influenced by celebrities.
- India
India's hair color market size was valued at USD 0.48 billion in 2021 and is expected to reach USD 0.72 billion by 2029, at a CAGR of 5.3% from 2022 to 2029. The market is primarily driven by a rise in the number of young working populations who are developing grey hair as a result of stress and a poor diet. Permanent hair colourants offer long-lasting hair colour, which is why there is so high consumer demand for them.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven by a wide product portfolio, product innovation changing lifestyles, rising urbanization, the rising penetration rate of salon and spa services, and the growing youth population in emerging economies.
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