Hair Color Global Market Report 2024

Hair colors are employed for purposes such as covering grey hairs, restoring the original hair color, and altering the structure and color of hair. Hair color, or hair dye, is used to highlight the hair and enhance its overall appearance, making it more visually appealing. It imparts hues that reflect light, giving the hair a vibrant and lively look.

The primary usages in the hair color market include permanent hair color, semi-permanent hair color, demi-permanent hair color, temporary hair color, and hair highlights and bleach. Permanent hair color works by interacting with the natural pigment of the hair, thereby altering its structure. The dyes in permanent hair color consist of tiny colorless molecules. Distribution channels encompass both offline and online platforms. Applications of hair color involve total grey coverage, touch-ups for roots, and highlighting greys. The various end-users include males, females, and unisex consumers.

The hair color market research report is one of a series of new reports from The Business Research Company that provides hair color market statistics, including hair color industry global market size, regional shares, competitors with a hair color market share, detailed hair color market segments, market trends and opportunities, and any further data you may need to thrive in the hair color industry. This hair color market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The hair color market size has grown rapidly in recent years. It will grow from $23.35 billion in 2023 to $25.8 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The expansion observed in the historical period can be attributed to factors such as robust economic growth in emerging markets, heightened usage of hair color to cover grey hair, increased investments in promotional activities including celebrity endorsements, a rise in disposable income, and innovations in hair color production.

The hair color market size is expected to see rapid growth in the next few years. It will grow to $38.01 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The anticipated growth in the forecast period can be attributed to factors such as global population growth and urbanization, a rising number of spa and salon services, an increase in mergers and acquisitions within the industry, growing beauty concerns, and a rise in the older population. Prominent trends expected in the forecast period include the provision of virtual hair coloring tools for enhanced customer convenience, a focus on vegan hair colors that use milder or less harsh chemicals than non-vegan hair dye, the utilization of AI-powered hair dye technologies to provide improved home hair color options, and a strategic emphasis on product innovations.

The anticipated growth in spa and salon services is set to drive the hair color market in the coming years. This refers to an upsurge in the availability of salon and spa services globally, where customized hair color services contribute to enhancing customers' appearances. For instance, as of January 2022, Zolmi, a Poland-based salon software company, reported an excess of 80,000 salons offering diverse beauty services across the U.S., collectively generating an annual revenue surpassing $20 billion and continuing to grow. Consequently, the increasing prevalence of spa and salon services is expected to fuel significant demand in the hair color market.

The rising emphasis on beauty concerns is closely linked to the demand for hair color products. Advances in the cosmetics industry have provided opportunities to enhance youth and beauty, with hair-coloring products standing out as a notable innovation. In a survey conducted by Nutraceuticals World in September 2021, 48% of U.S. consumers expressed an increased importance placed on their physical appearance, while only 21% reported decreased importance. Additionally, a survey by Lycored revealed that over half of consumers attributed their heightened awareness of appearance to spending more time on video calls. This increased beauty concern is expected to be a driving force behind the growth of the hair color market during the forecast period.

A prominent trend in the hair color market is the focus on product innovations by major industry players. Leading companies are dedicated to developing new and inventive hair color products to fortify their market positions. In 2022, L'Oreal, a renowned cosmetics and haircare company, introduced Copyright, an AI-connected hair color system designed to meet the demands of salon stylists. This system enables on-demand, personalized hair color, addressing challenges related to color accuracy and consistency, empowering colorists to streamline their processes.

A noteworthy trend gaining traction in the hair color market is the incorporation of AI-powered hair dye technologies. Artificial intelligence in hair technology allows consumers to virtually try on different hair colors and experience various hair dye products conveniently. Major companies in the hair color sector are leveraging technological launches, such as Colorsonic, to enhance their market presence. For instance, L'Oreal launched Colorsonic and Coloright in 2022, utilizing AI and other technologies to provide new levels of personalization. Colorsonic, a gadget designed to simplify at-home hair dyeing, features a cartridge with a precise blend of developer and formula in the bottom half, while the upper half houses a nozzle with bristles.

In February 2022, Honasa Consumer, an India-based consumer product manufacturing company, successfully acquired the BBLUNT brand from Godrej Consumer Products Limited (GCPL) for INR 1.34 billion (USD 0.017 billion). This strategic acquisition positions Honasa Consumer to wholly own BBLUNT's hair care and styling products business, facilitating expansion across geographical, technological, product, and customer dimensions. BBLUNT, an India-based brand, is renowned for providing premium hair care, hair color, and styling products.

Major companies operating in the hair color market report are L'Oreal SA, Henkel AG and Co. KGaA, Kao Corporation, Godrej Consumer Products Limited, Revlon Inc., The Estee Lauder Companies Inc., Combe Incorporated, Shiseido Company Limited, Mandom corp, Aveda Corp, Yiwu Olisa Beauty Factory, Guangzhou Hongxinlong Cosmetics Co Ltd., Zhejiang Chenxin Cosmetic Co Ltd., Guangzhou Hair Kou Trading Co Ltd., Guangzhou Dfine Trading Company Ltd., Hoyu Co Ltd., Coty Inc., Avon Products Inc., Unilever PLC, Procter & Gamble, Conair Corporation, Hero Cosmetics, Momentive Performance Materials Inc., Ashland Inc., Stepan Company, Cosmetica Beauty & Personal Care Equipment Trading LLC, Nazih Cosmetics, LSM Group of Companies, Prime Pro Extreme Middle East, Lila Kozmetik, Sachane Profesyonel Kozmetik Magazasi, Corporate Bureau Ltd., Blaq Hair, Dwinat Company Limited, The Hair Color Company, Evergreen Logistics Co Limited, Spec Sasa Logistics Limited, Kenya & Co Hair Salon.

North America was the largest region in the hair color market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hair color market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the hair color market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The hair color market consists of sales of permanent hair color, demi-permanent hair color and semi-permanent hair color. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Hair Color Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on hair color market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for hair color? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hair color market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Usage: Permanent Hair Color; Semi-Permanent Hair Color; Demi-Permanent Hair Color; Temporary Hair Color; Hair Highlights and Bleach
• 2) By Distribution Channel: Offline; Online
• 3) By Application: Total Gray Coverage; Touch-Up For Roots; Grays Highlighting
• 4) By End-User: Male; Female; Unisex
• Companies Mentioned: L'Oreal SA; Henkel AG and Co. KGaA; Kao Corporation; Godrej Consumer Products Limited; Revlon Inc
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery Format: PDF, Word and Excel Data Dashboard.