Hair Color Market Size Surpass USD 35,201.69 million by 2028 | Exclusive Report by The Insight Partners

Growing Popularity of High-End Hair Colors is Driving the Hair Color Market Growth

NEW YORK, UNITED STATES, October 31, 2022 /EINPresswire.com/ -- According to The Insight Partners latest market study on " Hair Color Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Permanent, Semi-Permanent, and Temporary), Type (Powder, Cream, and Others), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others),” the market is expected to grow from US$ 23,762.28 million in 2022 to US$ 35,201.69 million by 2028; it is estimated to grow at a CAGR of 6.8% from 2022 to 2028. The report highlights key factors driving the market growth and prominent players with their progress in the market.

Hair color products are categorized as oxidative (permanent) colors and direct (temporary or semipermanent) colors. Hair color products help in providing care for the hair and the scalp. In 2021, Asia Pacific dominated the global hair color market. The increased prevalence of graying of hair among the young, working population due to stress and improper diet is primarily driving the hair color market as most of these individuals are conscious about their hair and appearance. The population of Southeast Asian countries, such as South Korea, Hong Kong, Taiwan, and Singapore, is aging faster than Japan, which creates an excellent opportunity for the hair colorant market to expand their presence in these countries. In the European Union and North American region, women are increasingly demanding natural and organic hair care products.

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Arctic Fox, Coty Inc., Henkel AG & Co. KGaA, Kao Singapore Pte Ltd., L’Oreal Groupe, Revlon, Hygienic Research Institute Pvt. Ltd. (Brand-Streax), PZ Cussons Beauty LLP, Unilever Plc, and Wella Operations US LLC are among the well-established players constituting the majority of the hair color market share.

In recent years, the popularity of high-end hair colors has increased among consumers across the world. These brands provide a wide range of colors to choose from. Moreover, these colors are produced using natural ingredients. The new urban consumers in countries such as China and India are focusing on hair color as a part of their personality and choose high-end hair coloring products matching their personality traits. In addition, the young population having a higher disposable income is rapidly driving the demand for hair color products in urban areas. In addition, there is a growing number of millennials adopting current fashion which includes coloring hairs with attractive and high-end hair colors.

Impact of COVID-19 Pandemic on Hair Color Market

The COVID-19 pandemic adversely affected the consumer goods industry owing to the shutdown of manufacturing facilities, difficulty in procuring raw materials and components, and restrictions on logistic operations. Disruptions in raw material supply chains hampered hair color production. The outbreak distorted operational efficiencies and value chains due to the sudden shutdown of national and international boundaries, creating revenue loss and damage. Various hair color manufacturers had to temporarily close their operations or scale down their production capacities in 2020. However, the businesses are gaining ground as governments of various countries eased out the previously imposed restrictions in 2021. The start of operations in the hair color manufacturing units and the resumption of distribution facilities, such as supermarkets, hypermarkets, and retail stores, are the factors driving the revival of the hair color market.

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The global hair color market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific dominated the market in 2021, and it is further expected to record the highest CAGR during the forecast period. The overall increase in population in China and India, and a high aging population in Japan and other Southeast Asian countries are generating a huge demand for hair colorants to cover gray hair. Rapidly changing lifestyles owing to urbanization in developing countries are further contributing to the air color market growth across the region.

The market is segmented on the basis of product type, type, distribution channel, and geography. Based on product type, the market is segmented into permanent, semi-permanent, and temporary. In terms of type, the market is segmented into powder, cream, and others. Based on the distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others.

Report Spotlights

•Progressive trends in the hair color industry to help players develop effective long-term strategies
•Business growth strategies adopted by companies to secure growth in developed and developing markets
•Quantitative analysis of the global hair color market from 2020 to 2028
•Estimation of the demand for hair color across various industries
•Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers in the hair color industry
•Recent developments to understand the competitive market scenario and the demand for hair color
•Market trends and outlook, and factors governing the growth of the hair color market, including drivers and restraints
•Understanding about the strategies that underpin commercial interest into the global hair color market growth, aiding in the decision-making process
•Hair color market size at various nodes of market
•Detailed overview and segmentation of the hair color market and its industry dynamics
•The hair color market size in various regions with promising growth opportunities

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Hair Color Market Leading Growth Drivers, Emerging Audience, Segments