Hair Color Market Size, Share, Growth, and Global Industry Analysis, By Type (Permanent, Semi-Permanent, Temporary Hair Color, and Highlights & Bleach), By Application (Home Use and Commercial), Regional Insights, and Forecast From 2024 To 2032

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HAIR COLOR MARKET REPORT OVERVIEW

The global hair color market size was valued at USD 24.27 billion in 2023 and is projected to grow from USD 26.33 billion in 2024 to USD 50.91 billion by 2032, exhibiting a CAGR of 8.5% during the forecast period. Asia-Pacific holds leading position in hair color market share in 2023.

Hair color is the hair follicle pigmentation which is generally black or brown. This color is used in covering the grey hair or simply coloring the hair. It is available in liquid and powdered form and is available in various colors such as red, brown, black, magenta, and others. These colors are available in various types depending on the color’s lifespan such as temporary, semi-permanent, and permanent. These colors get lightened or darken with time depending on the hair type. The temporary color lasts for a few weeks, the semi-permanent color lasts for 2-3 months, and the permanent color lasts for 6-7 months. The lifespan of the color does not assure its vibrant color. The color may start getting lighter or darker. 

The hair color is generally used by the population to cover their grey hair. It has become a part of cosmetics and fashion. The fashion trend of having colored HAIR is likely to surge the demand for the product. The adoption of new fashion trends by the young population by following the celebrities’ fashion is encouraging the market growth. Additionally, the inclination of the youngsters toward having vibrant and loud colored hair is expected to drive the growth of the market. Moreover, the trend of having highlights or lowlights is also forecasted to aid the market growth. The market share is likely to expand owing to the adoption of the product by men and women both. 

Covid-19 Impact: Supply Chain Disruptions Affected Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with hair color experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to the hair color market growth and demand returning to pre-pandemic levels once the pandemic is over.

The sudden onset of the COVID-19 pandemic created a major shock across all industries. The pandemic outbreak created massive economic transformation, transportation disruption, and supply shortage due to frequent lockdowns has disrupted the hair color market growth. The sudden interruption in the production and shutting down of manufacturing units impacted the sale of consumer goods. The market is anticipated to bounce back as the normalization period starts. The pandemic disturbed the manufacturing, packing, and supplying of the product which affected the market growth. 

LATEST TRENDS

"Rising Hair Graying Issue to Surge the Market Growth"

Rising incidence of grey hair among the youngsters and senior population to drive maximum growth in the market. The men and women color their hair to cover the grey hair, which is estimated to drive the market growth. Improper, unhealthy diet and stress are causing grey hair to the youngsters, which is expected to surge market growth due to youngster's consciousness of their appearance. Additionally, these colors are long-lasting, which is forecasted to attract customers in the global market. The presence of the geriatric population and senior millennial population is predicted to boost the sale of the product. 

HAIR COLOR MARKET SEGMENTATION

• By Type Analysis

By type, the market is segmented into permanent, semi-permanent, temporary hair color, and highlights & bleach.

• By Application Analysis

Based on application, the market is classified into home use and commercial. 

DRIVING FACTORS

"Availability of Innovative Products to Surge Product Demand"

The population is conscious about their skin and hair and, therefore, the demand for the product that has no side effects. The availability of vegan and organic products in the market is expected to boost the product demand as it does not affect hair health and causes no allergies to the skin. Additionally, these colors can be used by any gender. Thus, the market is forecasted to gain maximum growth in the global market. Moreover, the presence of innovative products such as temporary, semi-permanent, and permanent color is likely to gain customers and surge hair color market growth.

"Trend of Having Colored and Highlighted Hair to Aid Market Growth"

The rising trend of having different color hair is likely to boost the market growth. The influence of celebrities on youngsters is increasing the product demand, which is expected to aid the market growth. The younger girls and boys color their hair brown, red, blue, green, magenta, and others to go with the trend. This factor is forecasted to cater growth of the market. The women’s demand to have different color hair is anticipated to be another factor driving the growth of the market. The trend of having highlighted hair is also forecasted to surge growth.

RESTRAINING FACTORS

"Rising Prevalence of Skin Allergies to Hinder the Market Growt"h

The frequent usage of these colors may cause skin infections due to skin exposure to the toxic chemicals present in the color is forecasted to hamper the market growth. Moreover, rising hair-related issues such as hair fall, dandruff, and hair-greying are anticipated to restrict the adoption and usage of the product. The expanding number of people with sensitive hair witnessing allergies and reactions due to hair coloring is estimated to hinder the market growth.

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HAIR COLOR MARKET REGIONAL INSIGHTS

"Asia Pacific to Dominate Due to Escalated Demand for Covering Grey Hair "

Asia Pacific is forecasted to gain maximum participation in hair color market share owing to the higher population in developed countries such as India, China, and Japan. Additionally, the increased demand for the product to cover grey hair is likely to boost growth in the market. Moreover, the upgrading lifestyle of the general population in the region due to urbanization is estimated to generate product demand. The millennial population of the region is expected to opt for colored hair by the influence of celebrities to sync with the trend.

North America is likely to show significant growth in the market due to the countries being key contributors to the growth of the cosmetic industry. Additionally, women spend more on cosmetics which is forecasted to surge the product sale in the global market. 

KEY INDUSTRY PLAYERS

"Major Players to Use Celebrity Endorsements to Gain Growth"

Key companies emphasize on brand building and advertising to gain a competitive advantage in the global market. The companies use various techniques to gain growth in the market, such as launching new products and using multiple advertising mediums such as digital marketing, television commercials, social media campaign, and others. Key companies also promote their products in shopping malls and retail stores to attract customers. Significant players use celebrity endorsement to portray their products as trusted and reliable product. Celebrity endorsements have been a go-to strategy to attract customers toward product adoption. 

LIST OF TOP HAIR COLOR COMPANIES

• Henkel
• Kao
• L’Oréal
• Coty
• Avon Products
• HOYU
• Combe
• Conair
• Estée Lauder
• Godrej
• Revlon
• Shiseido
• World Hair Cosmetics (Asia)

INDUSTRY DEVELOPMENT

• February 2022- Mamaearth, a startup that deals in direct-to-customer (D2C) sales, gained a Mumbai-based BBlunt from Godrej company. This acquisition was a win-win situation for both companies and will help expand the product, customer, technological and geographical base. 

REPORT COVERAGE

The report emphasizes on study and analysis of the global market on the basis of its segment, regions, and key competitors. The report constitutes of significant factors responsible for the development of the market and surges the hair color market growth. The report focuses on the key players and their headquarters. Regional analysis is also presented in the report to explain the contribution of various regions in the growth of the market. It constitutes market trends and restraints to understand the market appropriately. This report is an overall insight into the hair color market.