Market Research Future has published a cooked research report on the Global Men’s Hair Color Market, 2023–2032. The global men’s hair color market is projected to exhibit a CAGR of 7.15% during the forecast period of 2023 to 2032.
Market Research Future has recognized the following companies as the key players in the global Men’s hair color Market: Revlon(US), L’oreal S.A.(France), Coty, Inc.(UK), Combe Incorporated (US), Indus Valley (India), Cover Your Gray(US), Hoyu Co. Ltd (Japan) Natulique aps (Denmark), Kao Corporation (Japan), John Paul Mitchell (US).
Men’s Hair Color Market Highlights
The global men’s hair color market is projected to be valued at USD 0.93 billion by 2032, recording a CAGR of 7.15% during the forecast period. The growing preference for men’s grooming is considered to be one of the major factors for the rising growth of the global men’s hair color market. Additionally, increasing professional salon services for men is driving the market growth. However, side-effects due to the presence of harmful chemicals in hair color are hampering the growth of the market. The global men’s hair color market is estimated to emerge lucrative for the vendors active both in developed and developing economies due to new product launches & increasing demand for organic products and influence of social media and innovative marketing strategies.
Segmental Analysis
The global men’s hair color market has been segmented based on product type, category, form, end user, distribution channel and region.
Based on product type the global market has been segmented into permanent and semi-permanent hair color, temporary hair color, root touch-up, and others. The permanent and semi-permanent hair color segment accounted for the largest market share of 67.05% in 2021. Permanent hair color products give long-lasting color. They are available in a wide range of colors and are usually more natural-looking than products in the other segments. The composition and formulation of permanent color products are complex and critical to quality. Manufacturers put considerable effort into achieving a long-lasting color that does minimal damage to hair while providing both strength and elasticity.
Based on the category, the global men’s hair color market has been segmented into conventional and natural & organic. The conventional segment accounted for a larger market share of 78.11% in 2021. Conventional men’s hair colors are based on color precursors, called oxidation dyes, and the final shade is developed by their interactions with an oxidizing agent. The demand for conventional men’s hair color is increasing among men across the globe, owing to its easy availability and low cost compared to the natural & organic category.
Based on the form, the global market has been segmented into powder, cream & gel, and others. The cream & gel segment accounted for a larger market share of 72.03% in 2021. Cream & gel are some of the most widely available formats of hair color. The cream & gel segment is expected to register the highest growth in the global market. Premium men’s hair colors come in the cream form. Due to the increasing growth of premium products, the demand for the cream & gel segment is expected to increase.
Based on the end user, the global market has been segmented into household and commercial. The household segment accounted for a larger market share of 77.23% in 2021. Household end use refers to the direct use of men’s hair color by the consumer. Household end use is a lucrative segment in the market. However, the market share of the household segment is expected to decline in the near future.
Based on the distribution channel, the global men’s hair color market has been segmented into store-based and non-store-based. The store-based segment accounted for a larger market share of 77.24% in 2021. Store-based distribution channels include supermarkets & hypermarkets, convenience stores, and specialty stores. Supermarkets & hypermarkets account for the majority of personalized sales of hair care products, including men’s hair colors. Specialty stores or drug stores also contribute significantly to the distribution of men’s hair colors. Consumers prefer store-based channels as they provide a one-stop shopping experience.
Regional Analysis
On the basis of region, the men’s hair color market has been categorized as North America, Europe, Asia-Pacific, and the Rest of the World. As per MRFR analysis, North America accounted market share of 44.10% of the global market in terms of value in 2021 growing at a CAGR of 6.96% during the forecast period. The growth of the market in North America can be attributed to the high adoption rate of hair colors by the male population in the region. Coty, Inc., Just For Men, and Combe Incorporated are some of the key manufacturers present in the region. The increasing trend of self-grooming among the male population along with growing disposable income is driving market growth. Another factor trending in the North American market is the opening of professional hairdressing salons to target a mass consumer base. Moreover, the growing geriatric population is expected to positively impact the growth of the North American men’s hair color market. According to the Population Reference Bureau (PRB), the geriatric population in the US is projected to reach 22% of the total population in 2050 from 16% in 2018. The US accounted for 80.86% of the North American market in 2021 and is expected to maintain its dominance during the projected period. Europe dominates the market with a market share of 32.11% with a CAGR of 7.35% during the forecast period 2022-2030. The growth of the market can be attributed to the large geriatric population in the region. According to the United Nations Population Data, one in four Europeans are aged 60 and over. Thus, as people age, they can lose the pigmentation in their hair, causing it to grow out gray or, sometimes, white. Moreover, high awareness among European consumers regarding the use of hair color is anticipated to enhance the growth of the market. Asia-Pacific holds a market share of 16.32% of the global market in 2021, growing at a CAGR of 7.75% during the forecast period. Rising consumer spending on lifestyle products along with growing consumer awareness regarding product use is anticipated to act as major drivers for the growth of the Asia-Pacific men’s hair color market. Moreover, the entry of key manufacturers in the developing economies in Asia-Pacific and increasing promotional events in order to create awareness among consumers regarding product launches are driving the sales of men’s hair color. The growth of the organized retail sector is also considered to be one of the key factors for the growth of the regional market.Rest of the World holds a market share of 7.47% of the global market in 2021, growing at a CAGR of 6.03% during the forecast period. South America accounted for the largest market share of 48.54% in 2021 and is expected to exhibit a CAGR of 6.02% during the assessment period. In South America, Brazil and Argentina dominate the men’s hair color market. The reduced need for complex hair treatments for gray hair is anticipated to drive the growth of the South American market during the review period. However, the market in the Middle East is projected to exhibit the highest CAGR of 6.21% during the forecast period of 2022 to 2030. The UAE and Saudi Arabia offer lucrative opportunities to the manufacturers of men’s hair color. Manufacturers are inclined to create strong awareness regarding their product offerings through marketing campaigns.
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Key Findings of the Study:
- The global men’s hair color market is projected to register a growth rate of 7.15% from 2022 to 2030.
- The permanent and semi-permanent hair color segment is estimated to retain its dominance with a share of 67.05% in 2021, whereas the root touch-up segment is likely to register a higher CAGR of 8.22% during the forecast period.
- The conventional segment accounted for the largest market share of 78.11% in 2021, whereas the natural & organic segment is likely to register a higher CAGR of 7.62% during the forecast period.
- The cream & gel segment accounted for the largest market share of 72.03% in 2021 and is likely to register a higher CAGR of 7.26% during the forecast period.
- The household segment accounted for the largest market share of 77.23% in 2021, whereas the commercial segment is likely to register a higher CAGR of 7.61% during the forecast period.
- The store-based segment accounted for the largest market share of 77.24% in 2021, whereas the non-store-based segment is likely to register a higher CAGR of 7.86% during the forecast period.
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Companies Covered | 15 |
Pages | 110 |
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