Global COVID-19 Pandemic Impact on Hair Color Market Report on the is expected to rely on factors like changing fashion trends, rising disposable income, the impact of the social media and the entertainment industry, influences of salons, aggressive marketing strategies from manufacturers, and others. Market Research Future (MRFR), in their latest report, revealed that this market could achieve a notable CAGR to surpass the predicted valuation during the forecast period of 2020 to 2024. However, the market has the chance of getting obstructed by stringent regulations controlling the production process, the impact of chemicals included in the production that can have health hazards, and others. The recent outbreak of the COVID-19 pandemic impacted the market in great ways as it disrupted the supply chain and enforced governments to impose lockdowns, which resulted in the temporary closing of salons. The market took a substantial blow.
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On the other side, better investment for research projects and tilt towards organic products can open new avenues using which the market can profit.
Avon LLC (UK), L’Oréal S.A. (France), Conair Corporation (US), Revlon Consumer Products Corporation (US), Godrej Consumer Products Limited (India), The Estée Lauder Companies Inc. (US), The Procter & Gamble Company (US), Hoyu Co., Ltd (Japan), Coty, Inc. (US), and World Hair Cosmetics Co Ltd (Hong Kong) are some of the major companies to trigger the global hair color market with their strategic implications. Most of these companies rely on mergers, acquisitions, innovation, research-related benefits, branding, packaging, and other methods to support their own market presence and inspire better growth for the market.
Global COVID-19 Pandemic Impact on Hair Color Market Report on hair color includes segments like form, distribution channel, and product type to understand the flow of the market in a proper way. These segments and their data can help analysts in finding a proper foothold to discuss strategic moves for the future.
By product type, the report on the global hair color market includes permanent and temporary. Ever-changing trends are inspiring a substantial rise in the temporary hair color segment.
By form, the study on the global hair color market includes segments like cream, powder, and others.
By distribution channel, the global market has been segmented into store-based and non-store-based. The store-based segment includes specialty stores, supermarkets and hypermarkets, and others. The non-store-based segment also has the chance to score high in the coming years as the e-commerce segment is getting substantial tailwind.
In June 2020, Madison Reed announced that they had launched Mr. Hair Color for Men through MadisonReedMR.com. The step is likely to inspire a huge competition in the Men’s hair color segment. Recent market trends reveal that the men’s category is witnessing a substantial change in their appeal and mirrored the evolution of the women’s category. Makers of the brand are trying to capitalize on this trend and realize how much they could transform the market in the coming years.
In June 2020, COLORSMITH introduced a new product that would help men get a personalized at-home hair color experience. It comes with an option for gray coverage the way the user prefers. Colorsmith’s product is a result of specific crafting by professional licensed colorists and is not premixed or premade.
High disposable income in the region is expected to boost the North American market. Several manufacturers operate from Canada and the US, which would be beneficial for the market.
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