Hair Color Market

Rising Proclivity Toward Self-care and Grooming to Boost the Market Growth

People are becoming more conscious about hygiene, grooming, and personal aesthetics over the last few years. An increasing population concerned with looking good and self-grooming is anticipated to drive the Hair Color market. For decades, the grooming market has been dominated by products for women, but recently, the male-identifying population has acquired a huge market in the beauty industry. Traditionally, men have been less worried about their grooming habits. They are no longer limiting themselves to shaving products and deodorants but are becoming habitual users of grooming products such as moisturizers, facial scrubs, and hair care products, among others.

Additionally, the rise in consumer hair-related problems is a significant additional factor. As a result, many new products have been developed to address consumers' changing and prevalent tastes and preferences, helping to meet the growing demand for hair care products. Another major factor is the increase in consumer hair-related issues, which has led to several product innovations that accommodate the prevalent and changing tastes and preferences of consumers, thus facilitating the demand for hair care products has enhanced the market CAGR across the globe in recent years.

Employing natural ingredients instead of ammonia is one of the better ways that firms address the issue, as people's concerns about the harmful effects of toxic chemicals in hair colorants on health are growing. Thus, it is projected that there will be greater demand for organic hair colorants in the projected period due to the rising incidents of skin allergies among customers. Because hair bleaches change the coloring components in hair to lessen its color, they have become incredibly popular. Moreover, companies are introducing hair-bleaching products in novel ways to increase overall sales.

For Instance: In 2022, A new arrangement of bleaching powders with BB bleach formula was introduced by professional hair brand Alfaparf Milano to help strengthen hair and shield it from outside aggressors. As a result, it is anticipated that throughout the projection period, demand for weight loss supplements will increase due to the rising obesity rate. Thus driving the hair-color market revenue.

The Global Hair Color Market Industry experiences a notable increase in demand for personal grooming products. As consumers become more conscious of their appearance, the inclination towards hair coloring products grows. In 2024, the market is valued at 4.5 USD Billion, reflecting a shift in consumer behavior towards self-care and aesthetics. This trend is particularly pronounced among younger demographics, who often seek to express individuality through hair color. The rise of social media platforms further amplifies this desire, as individuals showcase their unique styles, thereby driving sales in the Global Hair Color Market Industry.

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific Hair Color market accounted for USD 2.061 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. This is because it is anticipated to be rising consumer spending on lifestyle goods and consumer awareness of product use. The expansion of the market in the region is being aided by manufacturers who are launching new products in these nations.

The Asia-Pacific market was dominated by China in 2020 and is anticipated to continue to be so throughout the duration of the study. The market in India, however, is anticipated to grow at the highest rate of 7.00% during the anticipated period.

Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3 HAIR COLOR MARKET SHARE BY REGION 2022 (%)

Product Type: Secondary Research, Primary Research, MRFR Database and Analyst Review

North America Hair Color market accounts for the second-largest market share due to the availability of cutting-edge treatment facilities, as the rapid uptake of hair color by the populace is responsible for the regional market's expansion. Company Coty. Among the most important businesses operating in the area is Coombe Incorporated. The rising per capita disposable income and rising self-grooming trends in the populace are propelling market expansion.  Moreover, Canada Tree Nuts market held the largest market share, and the US Tree Nuts market was the fastest-growing market in the North American region.

The Europe Hair Color Market is expected to grow at the fastest CAGR from 2024 to 2030. This is due to the expansion of the market in the region being aided by manufacturers who are launching new products in these nations. Further, the Germany market held the largest market share, and the UK Hair Color market was the fastest-growing market in the European region.

Major market players are spending a lot on R&D to increase their product lines, which will help the Hair Color market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Hair Color industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies manufacturers adopt in the  Hair Color industry to benefit clients and expand the market sector is manufacturing locally to reduce operating costs. In recent years, the Hair Color industry has provided medicine with some of the most significant benefits. In the Hair Color market, major players such as L'Oréal S.A. (France), Kao Corporation (Japan), Henkel AG & Co. KGaA (Germany) and others are working on expanding the market demand by investing in research and development activities.

L'Oréal S.A. (France) With Holla back, an NGO and authority on street harassment, L'Oréal Paris has formed a  alliance. Their 5D-based intervention strategy has reduced sexual violence on American college campuses by 17%. Breakthrough has spent more than 20 years addressing the cultural norms that support harmful, discriminatory practices to put an end to violence and discrimination against women and girls. The organization uses media, the arts, and popular culture to create non-threatening counter-narratives that motivate people to take action and stop violence against women. Deep cultural insight is also used by the organization.

Revlon Consumer Products LLC is a well-known international beauty corporation with a portfolio of well-known products that improve people's lives everywhere, including men's and women's. Through a varied portfolio of more than 15 brands distributed in more than 150 countries, the company produces and distributes color cosmetics, hair color and care products, skin care products, beauty care products, and fragrances. The company share its founders' enthusiasm for the beauty business and is inspired by ttheir inventiveness, vision, and insatiable curiosity. Companies act ethically and think that the way they do business counts just as much as the outcomes they produce.

Company values originated in both its teams and the clients the company serves, and the company is fearless, brave, and result-oriented. Companies are strategic brand developers with a strong background in beauty, know-how and a spirit of entrepreneurship. Using innovation and insights from the consumer and market, the company wants to ensure that customers are delighted with its cutting-edge goods, no matter where or how they buy beauty. In May 2023, Global leader in beauty and cosmetics Revlon debuted a revolutionary product in the hair color market called Revlon Color 'N Care.

This new line of hair colors offers an inventive formulation that gives customers an amazing hair color experience by fusing bright colors with natural nourishment and care. Creating the Color' N Care formulation is evidence of Revlon's dedication to quality and innovation.