The Hair Colorants Market is expected to register a CAGR of 5.48% during the forecast period.
Key Highlights
- The increasing global aging population and the growing consciousness among older adults about their physical appearance drive market growth. Due to rising concerns among individuals about the negative health impact of toxic chemicals in hair colorants, companies are developing better solutions to tackle the issue, like using natural ingredients and refraining from using ammonia. Therefore, the increasing prevalence of skin allergies among consumers is anticipated to boost the demand for organic hair colorants in the coming years.
- In recent years, bleachers have gained immense popularity as hair bleaches lighten the color of the hair by alteration of the coloring components in the hair. Moreover, brands are launching hair bleachers in innovative formats to drive their overall sales. For instance, in 2022, the professional hair brand Alfaparf Milano launched a new line of bleaching powders featuring BB bleach formula to help restore hair resilience and protect hair against external aggressors.
Hair Colorants Market Trends
Enhanced Self-Grooming Focus Bolstered Market Growth
- The increasing consciousness among consumers about their personal wellness and physical appearance is inducing spending on hairdressing salons and personal grooming establishments. Salon services can be professional, attentive, and relaxing for consumers, thus placing higher demand.
- Moreover, the greater penetration of mobile phones and enhanced internet usage, coupled with the rising influence of social media platforms, drive the sales of hair colorants through e-commerce channels. Consumers today are highly well-informed regarding the chemical formulations in their hair products and considerably opt for professional services at salons.
- As a result, they are taking great interest in clean hair products that do not irritate the skin or have no allergic reactions. Safety is another factor considered while selecting hair colorants, along with ease of use and the long-lasting color that consumers prefer the most today.
Asia Pacific is the Fastest Growing Market Among All Regions
- The increasing population in the Asia-Pacific region, especially in emerging countries like China and India, coupled with rapidly changing lifestyles and urbanization, is generating higher demand for hair colorants. The increasing influence of celebrities on millennials to keep up with fashion trends bolstered market growth.
- Moreover, leading players operating in the industry are focusing on aggressive marketing campaigns and R&D to launch innovative products that meet customer demands. Due to the availability of customized solutions, like hair highlights, that meet the diverse demands of the entire demography, the market for hair colorants has experienced a tremendous expansion in recent years.
- According to the Ministry of Finance of the People's Republic of China, the total public spending on hygiene/personal care and health care in 2021 for China was estimated to be CNY 1.92 trillion (USD 295.68 billion).
Hair Colorants Industry Overview
The hair colorants market is intensely centric toward the top players in the market. Some major players in the market are Henkel AG & Co. KGaA, Revlon Inc., L'Oreal SA, Mandom Corp., and Wella Operations Us LLC. The key players are embarking on product innovation as their key strategy to capture the potential market and optimize offerings. They are also keen on launching single-color-centric products with sustainable and natural claims to attract consumers.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
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