Hair Color Market Size, Share, Comprehensive Analysis, Opportunity Assessment by 2028

Growing Popularity of High-End Hair Colors is Driving the Hair Color Market Growth

According to our latest market study on " Hair Color Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product Type (Permanent, Semi-Permanent, and Temporary), Type (Powder, Cream, and Others), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)," the 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. The report highlights key factors driving the market growth and prominent players with their progress in the market.

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. In addition, the young population having a higher disposable income is rapidly driving the demand for hair color products in urban areas. 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.

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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.

Impact of COVID-19 Pandemic on Hair Color Market

The COVID-19 pandemic adversely affected the consumer goods industry owing to the shutdown of manufacturing facilities, difficulty in procuring raw materials and components, and restrictions on logistic operations. Disruptions in raw material supply chains hampered hair color production. The outbreak distorted operational efficiencies and value chains due to the sudden shutdown of national and international boundaries, creating revenue loss and damage. Various hair color manufacturers had to temporarily close their operations or scale down their production capacities in 2020. However, the businesses are gaining ground as governments of various countries eased out the previously imposed restrictions in 2021. The start of operations in the hair color manufacturing units and the resumption of distribution facilities, such as supermarkets, hypermarkets, and retail stores, are the factors driving the revival of the hair color market.

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This release was published on openPR.