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NEW YORK , July 8, 2022 /PRNewswire/ -- The Hair Color Market is segmented by Geography (Europe , North America , APAC, South America , and Middle East and Africa ). 30% of the market's growth will originate from Europe during the forecast period. The UK is the key market for hair color in Europe . Market growth in this region will be slower than the growth of the market in other regions. The intense competition among vendors, leading to the expansion of distribution networks and the adoption of multichannel marketing strategies, especially in Western European countries will facilitate the hair color market growth in Europe over the forecast period. Moreover, the Hair Color Market is expected to increase by USD 18.09 billion from 2021 to 2026, with an accelerated CAGR of 8.21%- according to the recent market study by Technavio. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenarios, future market trends, market size & estimations, and major investment pockets.
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Latest Drivers & Challenges of the Market-
Hair color is available in pre-measured sachets that are convenient to use. The market is driven by innovations in product formulation, composition, and the format through which it is sold in the market. The formulation of hair color is done in two stages. The first stage deals with the development of the product base and the second stage involves the formulation of the desired shade. During the process of the formulation, special attention needs to be given to factors such as dye stability, color wearability on hair, light fading, and the rheology of the product. The innovation is brought about in the shades of the finished product. Presently, most hair color manufacturers produce hair colors that help brighten the hair, contributing to the popularity of the product among consumers. This is followed by hair color variants that claim to be long-lasting, easy to use, and herbal. These innovations have led to an increase in customer acquisition, product visibility, and adoption rate, driving the price quotient of the market.
The global hair color market is flourishing in the developed markets of North America and Europe . This is because a significant proportion of premium and mass segments of end customers are available in this segment. Hence, these markets have a balanced demand for hair colors from different price brackets. Unlike countries in North America and Europe , APAC and MEA do not have an equal distribution of consumer segments. The proportion of mass segment customers in these regions is higher than that of the end-end customers. This results in significant sales of low-priced hair colors in the markets of these regions. However, the sale of premium hair colors and novelty hair color in APAC and MEA is low due to the low presence of the segment. The low sale of premium hair colors leads to a small revenue turnover. Thus, the value of revenue generated from these regions is low.
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The hair color market is segmented by Product (Permanent, Semi-permanent, Temporary, and Highlight and bleach) and End-user (Women, Men, and Unisex). The hair color market share growth by the permanent segment will be significant during the forecast period. Many vendors in the global market are offering permanent hair colors that are fade-resistant and require minimal color maintenance. Such application-based hair colors available in the global market are expected to drive the growth of the permanent hair color segment of the market in focus during the forecast period.
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The market is fragmented and the vendors are deploying growth strategies such as focusing on product innovations by bringing about the concept of product differentiation and new product developments to compete in the market.
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Accelerate at a CAGR of 8.21%
Europe, North America, APAC, South America, and Middle East and Africa
US, Japan, China, UK, and Brazil
Leading companies, competitive strategies, consumer engagement scope
Amway Corp., Avon, Cadiveu Professional, Chatters Ltd. Partnership, Coty Inc., The Estee Lauder Co. Inc., Godrej and Boyce Manufacturing Co. Ltd., Henkel AG and Co. KGaA, Hoyu Co. Ltd., John Paul Mitchell Systems, Kao Corp., LOreal SA, Madison Reed Inc., Moroccanoil Inc., NATULIQUE Ltd., NATURIGIN, Revlon Inc., Shiseido Co.Ltd., Surya Brasil, Tints of Nature, Tish and Snookys NYC Inc., and Unilever PLC
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
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