Hair color is described as a chemical that is applied to the hair with the primary purpose of adding color. They are widely used to hide grey hair, highlight specific areas of the hair, restore original care, and enhance the appearance of the hair. Hair color compounds are either made chemically or derived from plants.
Ammonia, antioxidants, dyes, fragrances, and other chemicals used to soften the hair, among other things, contribute to the formation of hair colors. Product composition and form innovations are propelling the hair color industry. Furthermore, the expansion of the novelty color sector as a premium product is likely to assist the hair color business.
Market Analysis
DataM Intelligence’s report on the hair color market provides insightful analysis of the latest trends and developments in the market. It outlines the current market dynamics and provides detailed insights into the market growth, revenue opportunities, and key players.
Our report provides an accurate assessment of the hair color market size and opportunities and explores the potential impact of the latest trends and developments.
Market Drivers
The Growing Issue of Hair Greying is Driving Demand for Permanent Colorants
The growing frequency of grey hair, induced by stress and bad nutrition, drives the market, especially among the young working population. Furthermore, the hair color sector will grow in the next years as spa and salon services such as hair coloring and maintenance become more popular.
Permanent hair colorants provide long-lasting hair color, which has increased demand for the category. Southeast Asian nations' populations, such as South Korea, Hong Kong, Taiwan, and Singapore, are aging quicker than Japan's, creating an outstanding potential for the hair colorant industry. In the European Union, over 70% of women use hair colorants, but in the United States, more than 75% of women use hair colorant products.
Key Market Trend
Product innovations are the most popular trend in the hair color industry. To enhance their positions in the hair color business, major corporations are focusing on inventing new and unique hair color products.
For example, Loreal, a cosmetics and haircare firm, introduced Copyright in 2022. Copyright is a salon stylist-friendly AI-connected hair color system that offers customized hair color on-demand. It overcomes the problems of obtaining accurate and consistent color, enabling colorists to reduce their complexities.
Key Market Players
The major companies operating in the hair color market include Henkel AG & Co. KGaA, Revlon, Coty Inc, and L'Oreal SA.
The major players in the hair color market adopt several growth strategies such as joint ventures, research tie-ups, up-gradation of existing products, new product launches, collaborations, mergers and acquisitions, thereby contributing to global growth in the industry.
To gain deeper insights into the hair color market, its trends, and future outlook, we invite you to request a sample report from DataM Intelligence. Discover how this rapidly evolving market can impact your business and investment decisions.
To Know More Download Sample
