The global hair color market is expected to grow at phenomenal CAGR by 2025, according to a report available on Radiant Insights, Inc. Growing need for personal care products to gain aesthetically pleasing looks is anticipated to propel market growth over the forecast period (2018 to 2025). Hair colors offer natural ingredients or chemical compounds that can be applied to hair to change the existing tint. Hair coloring can be used to restore original color of hair, to cover grey hair, or to highlight selected portion for appealing looks. This can be done by professional hair dressers or independently at home.
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Increasing use of hair color among aging population to cover grey hair is expected to positively influence market growth in near future. High adoption of hair coloring among youngsters can further stimulate market growth. Rising urbanization, changing lifestyle, and increasing number of young population in emerging economies can augment of the hair color market. Availability of various hair treatments coupled with rising concerns towards hair health can impel market growth. Growing penetration of salon and spa services offering various hair color solutions can inflate growth of market during the forecast period.
To cater to rising demand for products with natural ingredients, most companies and institutes are focusing on Research and Development (R&D) activities to develop better products. For instance, a team of researchers at the University of Leeds recently developed a new and natural hair dyeing technology using anthocyanin. The team extracted anthocyanin from blackcurrant waste left during manufacturing process of Ribena— a blackcurrant drink. The technology can provide intense reds, blues and purples on hair. When combined with natural yellow, it can offer an array of colors including browns. According to researchers, colors produced can last up to 12 washes. This is comparable with various conventional semi-permanent colors.
In another instance, L’Oréal recently introduced its new 100% plant-based hair dye collection called Botanea. It is sourced from three plants found in India named Cassia, Indigo, and Henna. Cassia leaves act as adjuster and luminizer. Henna leaves can release natural copper hues, which can be used to create blonde and other brown shades. Indigo, on the other hand, can deliver colors ranging from blue to purple.
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The worldwide hair color market can be segregated on the basis of product, end-user, and region. Based on product, the market can be categorized into temporary hair dye, semi-permanent hair dye, and permanent hair dye. Based on end-user, the market can be bifurcated into home use and commercial use.
Regional segmentation includes North America, India, China, Japan, Europe, and Southeast Asia. In North America, the market for hair color is expected to generate maximum revenue owing to high product demand. Growing adoption of innovative promotional and marketing activities by key companies can further boost product sales in the region. In addition, presence of a large number of major market players can fuel regional market growth over the forecast period.
Similarly in India, China, and Japan, the hair color market is expected to witness significant growth owing to increasing fashion consciousness among consumers. In addition, growing middle class population with high disposable income can augment regional market growth in near future. In Europe, the market is anticipated to grow at substantial rate owing to high demand for hair color to enhance hair styling. In addition, rising popularity of hair texturizing products can fuel market growth in the region over the forecast period.
Some of the leading companies offering hair color are L’Oréal, Henkel, Avon Products, Godrej Consumer Products, and Revlon.
Browse More Reports of Consumer Goods Industry:
1) Color Cosmetics Market – https://www.radiantinsights.com/research/global-color-cosmetics-market-professional-survey-report-2018
2) Respiratory Masks Industry – https://www.radiantinsights.com/research/global-respiratory-masks-industry-2018
3) Freestanding Wine Coolers Market – http://consumerndgoods.blogspot.com/2018/07/freestanding-wine-coolers-market.html
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