According to Goldstein Research, “Rising popularity of crème hair colors is one of the major factors which are driving the demand for hair colors across the globe. Hair is an important part of any individual’s personality thus people are willing to spend on hair quality products to enhance their styling and hair color is a vital part of this fashionable trend. Availability of affordable products and growing popularity of ‘salon-like hair’ services is accelerating the demand of hair color products across the globe. Growing urbanization and rising personal disposable income is likely to drive hair color market over the time period of 2016-2024.
The Global Hair Color Market is segmented based on product type, based on usage, by composition, by distribution channel and by end user. Composition segment is further categorized on the basis of organic, natural, herbal and chemical. Increasing harmful effects of hair color made of chemicals are experiencing negative impact and thus majority of population are shifting towards natural or herbal hair color which has no or less side effects. More than 80% of people are willing to opt and pay for organic or herbal hair products. This is likely to boost the demand of hair color market in the near future.
Latin America is estimated to be the fastest growing region for hair color market over the forecast period i.e. 2016-2024, due to increase in awareness about hair care and increasing trend of grooming routines among men and women. Latin America hair color market is estimated to reach USD 2.15 billion by the end of 2024, registering a healthy CAGR during the forecast period.
Beauty Innovation: Novelty Colors
Novelty colors are becoming a new fashion statement. Colors such as pink, blue, purple, yellow and green are considered as novelty colors. These colors are gaining popularity mainly among men due to the increasing demand of better aesthetic appeal among male customers. Novelty colors have high penetration in regions such as North America and Europe due to its high costs. However, novelty hair color market is experiencing considerable growth in APAC and Latin America region, owing to the increasing demand of novelty color over regular color in the region.
“Global Hair Color Market Outlook 2024” contains detailed overview of the global hair color market in terms of market segmentation by product type, by usage, by composition, by distribution channel and by end user.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Sacle) analysis, Porter’s five force model and SWOT analysis.
This market report also includes provides competitive outlook of some of the major players of the global hair color market which includes profiling of companies L'Oreal, Coty Inc., Henkel AG & Company, Kao Corporation, Godrej Consumer Products, Johnson & Johnson, Revlon, Avon Products, Procter & Gamble, Toni & Guy Hairdressing, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global hair color market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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