Global Hair Color Market Was Valued at USD 22 Billion in 2021. The Growth is Attributed to Increased Demand for Natural Hair Color

According to Precision Business Insights (PBI), the hair color market is expected to be worth USD 23 billion in 2022, growing at a 5% CAGR from 2022 to 2028. Global Hair Color Market is segmented into the following types: By Distribution Channel (Online, Supermarkets & Hypermarkets, and Others), Product Type (Permanent and Temporary), Nature (Natural and Synthetic), and Geography (North America, Europe, Asia Pacific, Latin America, and MEA) Forecast to 2028. Key players' profiles in the Hair Color market report are Combe Inc., Coty Inc., Henkel AG & Co. KGaA, Kao Corp., New Avon Co., Revlon Inc., Shiseido Co. Ltd., The Estee Lauder Companies Inc., and Unilever Group. The market is growing due to expanding fashion awareness, changing fashion trends, and rising disposable income among the younger population. The global market is also benefiting from an increase in hair salons and spas. Hair color innovation, ease of use, and stain-free hair colors are projected to contribute to the global market's continued expansion-one of the leading market drivers in product formulation and format innovation. The global hair color market is expected to develop gradually as people become more aware of health and well-being issues. Due to increased product advertising, health organization marketing, and social media marketing, customers are more confident in the product and willing to acquire it, increasing demand.

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Natural Hair Color Segment Dominates the Hair Color Market:
Natural Hair Color segment is expected to account for a larger revenue share in the global hair color market and is projected to grow at a 6% CAGR between 2022 and 2028. The majority of customers are concerned about the potential for chemical colors to impact their hair negatively. As consumers become more aware of the negative implications of using such products, the use of chemical hair color is declining. Furthermore, as customers become more aware of the benefits of herbal colors, they are increasingly likely to prefer clean-label hair care products. As a result, customer demand for natural hair color products is rapidly increasing.

Europe Hair Color Market:
Europe is expected to hold a significant market share in the global hair color market over the forecast period, and it is projected to grow at a CAGR of 5.5% in the coming years. In Europe, the United Kingdom is the most critical market for hair color. The hair color market in the region is expected to grow significantly throughout the forecast period because of intense competition among suppliers, resulting in the expansion of distribution networks and the use of multichannel marketing tactics, notably in Western European countries. Natural hair colors are likely to be in high demand in Europe throughout the forecasted period. Consumers are more focused on maintaining hair health, primarily through hair colors made from natural materials.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Hair Color market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

Detailed Segmentation
The hair Color Market is segmented based on product type, application, and geography.
Based on the product type, the market is segmented into the following:
• Disease Insurance
• Medical Insurance
• Income Protection Insurance

Based on the application, the market is segmented into the following:
• Cancer
• Heart Attack
• Stroke
• Others

Based on the geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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