Strategic Forecast: Hair Color Market’s USD 20.39 Billion Surge by 2027 – Unveiling Innovations in Formulation and Formats
NEW YORK, NY, December 05, 2023 /24-7PressRelease/ — The hair color market is expected to grow by USD 20.39 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 8.54% during the forecast period. Innovation in product formulation and formats is notably driving the hair color market. However, factors such as the limited consumer pool for novelty and premium hair colors in developing countries may impede market growth. The market is segmented by product (permanent, semi-permanent, temporary, and highlights and bleach), end-user (women, unisex, and men), and geography (Europe, North America, APAC, South America, and Middle East and Africa).
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Key Segment Analysis
• The market share growth by the permanent segment will be significant during the forecast period. Oxidation is a term used to describe the process of permanent hair color because prior to its application it contains an oxidizer like hydrogen peroxide or ammonia. Therefore, manufacturers are doing all they can to make sure that the hair retains its color in a lasting way without any damage to its strength and elasticity. A wide range of natural shades is also available for permanently colored hair. Moreover, a number of global permanent suppliers offer hair color that is long-lasting and requires minimal maintenance.
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Geographical Market Analysis
• Europe is estimated to contribute 30% to the growth of the global hair color market during the forecast period. UK, France, and Germany are the key contributors to the market in the region. Major suppliers in the hair color market in that region are LOreal SA, Unilever Group, Henkel AG & Co. KGaA, and New Avon Company. Due to the expansion of distribution networks, as well as the adoption of multichannel marketing strategies, there has been a high level of competition between retailers, particularly in Western European countries. High consumers’ disposable income, high purchasing power parity, and high per capita earnings are the micro factors that have led to European incomes being so high.
The hair color market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including Amway Corp., Cadiveu Professional, Chatters GP Inc., Coty Inc., Godrej and Boyce Manufacturing Co. Ltd., Henkel AG and Co. KGaA, John Paul Mitchell Systems, Kao Corp., LOreal SA, Madison Reed Inc., Moroccanoil Inc., NATULIQUE Ltd., NATURIGIN, Revlon Inc., Surya Brasil, The Estee Lauder Companies Inc., Tints of Nature, Tish and Snooky NYC Inc., Natura and Co Holding SA, and Shiseido Co. Ltd.
View the Free PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.
The Hair Care Market size is projected to increase by USD 19,677.67 million and the market size is estimated to grow at a CAGR of 4.18% between 2022 and 2027.
The hair wigs and extension market size is projected to increase by USD 5,892.01 million and the market size is estimated to grow at a CAGR of 9.34% between 2022 and 2027.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by End-user
Market Segmentation by Geography
Drivers, Challenges, & Trends
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