Hair Color Market Value Worth US$ 33,794.2 million by 2030, says Astute Analytica

CHICAGO, UNITED STATES, December 8, 2022 /EINPresswire.com/ -- Global hair color market recorded a revenue of US$ 17,559.7 million in 2021 and it is forecast to reach a valuation of US$ 33,794.2 million by 2030, growing at a CAGR of 7.5% during the forecast period from 2022 to 2030.

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Hair color is applied to the hair to give it color. Hair color helps highlight a specific area of the hair, restore the natural hair color, and cover the grey hair with hair coloring. It typically gives hair a more appealing appearance. Elderly people are also dying their hair to cover up grey hair and disguise indications of age, much like the younger generation, who are doing it in a range of colors. An experienced hairstylist, a professional at home, or an individual can color one's own hair.

Market Influencing Factors

Drivers

Detangling hair coloring to do constant fashion

Prestige hair care is the area of the beauty business that is expanding the fastest. However, individuals are increasingly turning to products purchased outside of the professional setting as they go longer between salon visits and look for ways to keep their hair healthy and vibrant for longer periods of time. A rise in independent firms supporting the hair color market with specialized product lines and an increase in category and product offers to drive the global market.

However, there has been an increase in interest in skincare and haircare, which has altered the purchasing point of consumers, further boosting the market growth. Hair products without potentially dangerous ingredients are gaining more and more popular than those that do. In addition, a lot of appearances vary naturally throughout time, especially the color of the hair. As a new season brings new trends and creative ways to color and highlight hair, manufacturers are focusing on knowing what their customers want and what colors they think will remain a key trend in the upcoming years.

Growing Application of Hair Color by Ageing Population

The older generation is increasingly looking for hair colors that more accurately represent their own unique personalities. This is driving the creation of new, more adaptable, and cost-effective hair color solutions for the global market. Additionally, the demand for hair coloring services is rising among those with darker complexion tones.

People of all ages are frequently seen dyeing their hair, which has sparked a booming industry that meets this need. This could be the case for a variety of reasons. Some ladies discover that coloring their hair gives them a glamorous touch and helps them feel younger. Additionally, many senior citizens avoid wearing traditional hair colors like black or brown since they can become dull or thin with age.

Instead, they are drawn to pastel colors like pink or light purple that will age well and may even help keep their hair color. A large segment of senior consumers in the global hair color market prefer switching up their haircuts sometimes, and coloring their hair makes this possible.

In the elderly population, there are several advantages to choosing hair coloring over conventional hairstyles. Hair coloring is a versatile option for both aging men and women since it can bring extra pop and variety to any appearance. Additionally, it can be used to cover up areas of density or greying hair, providing some older folks the self-assurance to go out and socialize without worrying about looking good.

Trend

Compelling Advertisement and Adoption of Organic Hair Color

Over the past few years, there has been an unprecedented rise in demand for natural and organic cosmetic goods. Many clients think that using "organic" or "natural" ingredients in hair care products inevitably makes them safer. Aging and the frequent use of synthetic shampoos, which have pushed the use of synthetic dyes due to the increased use of hazardous chemicals in manufacturing, are the main causes of the natural occurrence of greying hair.

In order to make their products safer and more natural, various producers in the worldwide hair color market have been researching consumer needs. As an illustration, Aveda asserts that its hair color formula is largely natural. "96% of the composition is made of components derived from nature, including the humectants, conditioners, viscosity builders, solvents, and antioxidants," claims Justina Mejia-Montane, Vice President of Global Product Development at Aveda. As a result, the rise in popularity of organic hair dye contributes to global market growth.

Restraint

Side Effects of Hair Color

Permanent hair coloring typically contains ammonia and peroxide. While the ammonia permeates the hair shaft, the peroxide neutralizes or bleaches out the natural pigment in the hair, losing color. In essence, hair damage happens when the hair cuticles are relaxed in order to access the hair cortex and bleach out its natural pigment. If people over-treat their hair with certain chemicals included in hair color, it will become dull, brittle, and in severe cases, wash away with water. While hair care solutions can partially repair the harm caused by over-processing, cutting the hair off is the only method to get rid of it altogether.

PPD and other dye ingredients are more likely to cause reactions in people with contact dermatitis.

Additionally, people with skin conditions like eczema and psoriasis should not color their hair using hair colors. Less severe adverse effects of permanent dyes include itching, skin irritation, redness, and swelling on the scalp or other delicate areas like the face and neck.

The fact that getting all the desired results from a single application of hair coloring can be time-consuming and expensive is one drawback of hair coloring in the global hair color industry. Multiple treatments over several weeks or months may be necessary to get desired results when clients want darker hues for an edgier look or lighter tones closer to their natural color.

Segmentation Summary

In terms of type, the global hair color industry divides into natural, chemical, and vegetal. Our projections show that the chemical sector, which benefits from longer shelf lives, held a share of more than 50% of the market in 2021.

An increasing number of millennials are adopting fashionable hair colors and other current fashion trends. The hair color market is growing due to changing lifestyles, growing urbanization, and an increase in the number of young people in emerging nations. In the upcoming years, the vegetal hair color market is likely to expand at a CAGR of 8.7%.

Based on application, the global hair color industry segments are men and women. The women segment acquired the revenue of about 68% of the global market. In general, women are more concerned with their personality and beauty than males. Additionally, cosmetics and other beauty products are more expensive for women.

As per the American Society of Cosmetic Chemists, women are the main consumers of hair color products. They represent over two-thirds of sales of hair color products. This is probably a result of their propensity to switch up their appearance regularly and the variety of hair colors that appeal to them. Another important aspect of women in the market for hair color is as follows:

Compared to males, women have more hair color options, making it easier for them to pick a shade that complements their skin tone.
Additionally, they use more items overall than males to get the same result. In order to achieve the same outcome as a guy, they often need to use three times as much product.
Throughout the year, women are more likely than males to color their hair many times. They do this because they like to experiment with colors and stay current with fashion.

The men segment is anticipated to grow at the highest rate over the course of the forecast years. The main element propelling the growth of the hair color market globally is the rising concerns of men about their appearance and upkeep. Additionally, expanding access to a variety of men's grooming goods and professional salon services would benefit the growth of men's hair color products over the projection period.

In terms of form, the global hair color market divides into cream, powder, and others. In 2021, the cream segment dominated the global hair color industry owing to the increased choices among consumers. Cream dye has already been dissolved in water and is more concentrated than powder dye.

The versatility of cream hair dye is one of its key advantages. By utilizing a darker cream hue, users can achieve a more dramatic effect or utilize it to create a natural-looking appearance. Additionally, users can create a wide variety of looks by utilizing various colors.

Additionally, people who are sensitive to caustic chemicals should use this sort of dye. Additionally, unlike traditional dyes, this form of hair color does not require conditioning treatments. As a result, using a cream form instead of another type allows consumers to save time and money.

The cream also allows one to use only the necessary amount and is cost-effective. Along the hairline, it is simple to apply, and the mixture does not leak or easily spatter. For touch-ups along the hairline and roots, this is ideal.

On the basis of usage, the global hair color market divides into permanent, semi-permanent, temporary, and highlights/bleach. According to our research, the permanent sector held a significant market share. This can be ascribed to the vendors in the permanent hair color market segment's increased propensity to provide cutting-edge formulations in order to meet customer expectations. For example, several major firms in the global hair color market offer hair colors that totally cover the hair from the root and prevent brassiness in the hair.

Regional Summary

The Asia Pacific region is likely to play a significant role in the global hair color industry and is predicted to maintain its dominance in the future. Aging populations and rising spending on cosmetics and beauty items are the main causes of this trend. Additionally, Asian-Pacific women are more likely than women elsewhere to prefer lighter hair colors, which fits with a current trend toward eco-conscious lives.

The main drivers of this hair color market are China and India, which together accounted for a significant global hair color expenditure in 2021. These two countries are increasingly obsessed with altering their appearance, with over 60% of Chinese women and 45% of Indian women dyeing their hair sometime during their lifetime. In addition, economies in Southeast Asia are growing rapidly, and there is an increasing demand for luxury goods, including hair color.

China and India are the key proponents of this hair color industry, as they combined accounted for a sizeable portion of worldwide hair color spending in 2021. Over 60% of Chinese women and 45% of Indian women have dyed their hair at some point in their lives, demonstrating these two nations' growing obsession with changing their appearance. Additionally, Southeast Asian countries are expanding quickly, and there is a rising demand for luxury goods like hair color.

North America dominated the global hair color industry, which will rank second overall. This is due to the region's ongoing important contribution to the development of the cosmetics industry. A number of cosmetic manufacturers are also looking for new, bespoke product offers to satisfy the shifting preferences of their clients. Additionally, cosmetics are a significant annual expense for American women.

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Leading Competitors

The leading companies in the global hair color market are:

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

Segmentation Outline

The global hair color market segmentation focuses on Type, Application, Form, Usage, and Region.

By Type
Chemical
Natural
Vegetal

By Application
Women
Men

By Form
Cream
Powder
Others

By Usage
Permanent Hair Color
Semi-Permanent Hair Color
Temporary Hair Color
Highlights/Bleach

By Region
North America
The U.S.
Canada
Mexico

Europe
The U.K.
Germany
France
Italy
Spain
Poland
Russia
Rest of Europe

Asia Pacific
China
India
Japan
South Korea
Australia & New Zealand
ASEAN
Rest of Asia Pacific

South America
Brazil
Argentina
Rest of South America

Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of Middle East & Africa

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About Astute Analytica
Astute Analytica is a global analytics and advisory company that 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 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.

Aamir Beg
Astute Analytica
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