Hair Color Market Growing at a CAGR of 6.8% | Top Leading companies Revlon, PZ Cussons Beauty, Arctic Fox, Kao Singapore

Consumers color their hair to cover grays, change their color to look fashionable, or restore the original hair color after they are discolored. In recent years, the popularity of high-end hair colors has increased among consumers across the world. These brands provide a wide range of colors to choose from. Moreover, these colors are produced using natural ingredients. The new urban consumers in countries such as China and India are focusing on hair color as a part of their personality and choose high-end hair coloring products matching their personality traits.

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Arctic Fox, Coty Inc., Henkel AG & Co. KGaA, Kao Singapore Pte Ltd., L'Oreal Groupe, Revlon, Hygienic Research Institute Pvt. Ltd. (Brand-Streax), PZ Cussons Beauty LLP, Unilever Plc, and Wella Operations US LLC are among the well-established players constituting the majority of the hair color market share.

The hair color market is expected to grow from US$ 23,762.28 million in 2022 to US$ 35,201.69 million by 2028; it is estimated to grow at a CAGR of 6.8% from 2022 to 2028.

In addition, there is a growing number of millennials adopting current fashion which includes coloring hairs with attractive and high-end hair colors. Young millennials are highly using different hair color products with growing popularity on social media and advances in salon technology. Increasing population of the young people in various countries, growing urbanization, and changing lifestyles are some of factors responsible for a high demand for hair color products from young population. Hence, the growing adoption of high-end hair colors is driving the global hair color market.

The market is segmented on the basis of product type, type, distribution channel, and geography. Based on product type, the market is segmented into permanent, semi-permanent, and temporary. In terms of type, the market is segmented into powder, cream, and others. Based on the distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others.

Based on geography, the market is primarily segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. Asia Pacific dominated the hair color market in 2021, and it is expected to register the highest CAGR during the forecast period. The increase aging population along with premature graying of hair is driving the demand for hair color across the region. Young population in countries such as India and China are consuming different hair colors to be in sync with the latest fashion trends. They are also using different hair color products with growing popularity on social media. Thus, all these factors are driving the hair color market growth in Asia Pacific.

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