Global Hair Color Markets, Analysis, Opportunities and Strategies, 2016-2021, 2021-2026F, & 2031F
Global Hair Color Market
Dublin, March 07, 2023 (GLOBE NEWSWIRE) -- The "Hair Color Global Market Opportunities and Strategies to 2031" report has been added to ResearchAndMarkets.com's offering.
The hair color market reached a value of nearly $19,331.1 million in 2021, having grown at a compound annual growth rate (CAGR) of 4.4% since 2016. The market is expected to grow from $19,331.1 million in 2021 to $29,009.2 million in 2026 at a rate of 8.5%. The market is then expected to grow at a CAGR of 7.7% from 2026 and reach $42,100.5 million in 2031.
Growth in the historic period resulted from strong economic growth in emerging markets, increased usage of hair color to cover gray hair, increased investments in promotional activities like celebrity endorsements, increased disposable income and innovations in hair color production.
Going forward, global population growth and urbanization, increasing number of spa and salon services, increasing mergers and acquisitions, increasing beauty concern and increasing older population will drive the growth. Factors that could hinder the growth of the hair color market in the future include high prices of hair spa services and the Russian-Ukrainian war.
The hair color market is segmented by usage into permanent hair color, semi-permanent hair color, demi-permanent hair color, temporary hair color, and hair highlights and bleach. The permanent hair color market was the largest segment of the hair color market segmented by usage, accounting for 40.5% of the total in 2021. Going forward, the demi-permanent hair color market is expected to be the fastest growing segment in the hair color market segmented by usage, at a CAGR of 9.5% during 2021-2026.
The hair color market is segmented by distribution channel into offline and online. The offline market was the largest segment of the hair color market segmented by distribution channel, accounting for 90.0% of the total in 2021. Going forward, the online market is expected to be the fastest growing segment in the hair color market segmented by distribution channel, at a CAGR of 9.9% during 2021-2026.
The hair color market is segmented by application into total gray coverage, touch-up for roots and grays highlighting. The total gray coverage market was the largest segment of the hair color market segmented by application, accounting for 43.4% of the total in 2021. Going forward, the total gray coverage market is expected to be the fastest growing segment in the hair color market segmented by application, at a CAGR of 8.7% during 2021-2026.
The hair color market is segmented by end-user into male, female and unisex. The female market was the largest segment of the hair color market segmented by end-user, accounting for 63.0% of the total in 2021. Going forward, the male market is expected to be the fastest growing segment in the hair color market segmented by end-user, at a CAGR of 8.9% during 2021-2026.
Asia Pacific was the largest region in the hair color market, accounting for 38.1% of the total in 2021. It was followed by North America, and then the other regions. Going forward, the fastest-growing regions in the hair color market will be Asia Pacific, and, North America where growth will be at CAGRs of 8.9% and 8.7% respectively. These will be followed by Africa, and, Western Europe where the markets are expected to grow at CAGRs of 8.6% and 8.4% respectively.
The hair color market is fairly concentrated, with a few large players dominating the market. The top ten competitors in the market made up to 33.08% of the total market in 2021. L'Oreal SA was the largest competitor with 18.43% share of the market, followed by Henkel AG and Co. KGaA with 6.74%, Kao Corporation with 3.32%, Godrej Consumer Products Limited with 1.69%, Revlon Inc. with 1.22%, The Estee Lauder Companies Inc. with 0.65%, Combe Incorporated with 0.43%, Shiseido Company Limited with 0.25%, Mandom corp with 0.23%, and Aveda Corp with 0.11%.
The top opportunities in the hair color market segmented by usage will arise in the permanent hair color segment, which will gain $3,909.9 million of global annual sales by 2026. The top opportunities in segment by distribution channel will arise in the offline segment, which will gain $8,504.8 million of global annual sales by 2026. The top opportunities in segment by application will arise in the total gray coverage segment, which will gain $4,345.5 million of global annual sales by 2026. The top opportunities in segment by end-user will arise in the female segment, which will gain $5,909.4 million of global annual sales by 2026. The hair color market size will gain the most in the USA at $2,089.1 million.
Market-trend-based strategies for the hair color market include offering virtual hair coloring tools for greater customer convenience, focusing on vegan hair colors that are milder, or less harsh chemicals than non-vegan hair dye, leveraging AI-powered hair dye technologies to offer better home hair color options and focusing on to product innovations.
Player-adopted strategies in the hair color market include offering easy-to-use hair color products through new product launches, focusing on strategic acquisitions for expansion and developing new products.
To take advantage of the opportunities, the publisher recommends the companies in the hair color market to focus on artificial intelligence (AI)-powered hair dye technologies, focus on use of vegan hair colors, expand in emerging markets, focus on partnerships and collaborations, provide competitively priced offerings, leverage social media to maximize reach, focus on aggressive advertising and promotional activities and focus on the growing populations.
No. of Pages
2021 - 2031
Estimated Market Value (USD) in 2021
Forecasted Market Value (USD) by 2031
Compound Annual Growth Rate
Major Market Trends
Virtual Hair Coloring Tool
AI-Powered Hair Dye Technologies
Vegan Hair Colors
Strategic Collaborations And Partnerships
Henkel AG and Co. KGaA
Godrej Consumer Products Limited
Key Mergers and Acquisitions
Fisk Industries Acquired bettybeauty Inc
Wella Company Acquired Briogeo
Henkel Acquired Shiseido
Mamaearth Acquired BBLUNT
Lisap Acquired Parisienne Italy
LG Acquired Boinca
Henkel Acquired Majority Stake In eSalon.com
Loreal Acquired Pulp Riot
Market Segmentation By Usage
Permanent Hair Color
Semi-Permanent Hair Color
Demi-Permanent Hair Color
Temporary Hair Color
Hair Highlights And Bleach
Market Segmentation By Distribution Channel
Market Segmentation By Application
Total Gray Coverage
Touch-Up For Roots
Market Segmentation By End-User
For more information about this report visit https://www.researchandmarkets.com/r/fjojmh
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