According to a study by Fact.MR, the global hair color Market is likely to experience strong growth. The market is projected to bring in US$ 3,117.4 million revenue by 2022 end. One of the latest trends that have gained traction is the demand for organic or natural hair color. Being less harmful as compared to the synthetic colors, manufacturers are also moving towards introducing hair color made using organic ingredients.
Hair color includes various chemical compounds which are mixed together to produce various types of color that can be applied on the hair. Hair colors are of various types such as permanent, semi-permanent, demi-permanent, temporary, bleach highlights. Both chemical and natural hair colors are available in the market, however, the majority of the customers are using natural or organic hair color as they are less damaging to the hair. Meanwhile, chemicals used in hair color can cause various problems such as hair breakage, skin allergy and irritation, skin discoloration, etc.
Due to the various health concerns, people are using natural hair colors instead of chemical hair colors, hence leading market players have also started focusing on producing organic hair colors using different types of herbs. New products in form of kit including all the natural ingredients are also being produced. Hair color producers are also offering other products along with the hair color which helps in maintaining the hair color for a long time such as color-protecting shampoo, conditioners, etc. Production of hair color also differs on the basis of application techniques including off-scalp and on-scalp coloring technique.
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Compared to the various types of hair colors available in the market, permanent hair color is likely to experience healthy growth throughout the forecast period. Gaining close to two-fifth of the share in terms of the revenue by 2017 end, permanent hair color products are projected to create more than US$ 500 million incremental opportunity during 2017-2022.
Natural hair color is likely to gain half of the share in terms of the revenue by 2017 end. Natural hair color is also projected to surpass US$ 1,600 million value towards 2022 end.
Female hair color compared to male and unisex hair color is likely to experience substantial growth in the global market for hair color. By 2022 end, female hair color is projected to exceed US$ 1,100 million revenue. Meanwhile, male hair color is also likely to gain nearly one-third of the share in terms of the revenue by 2017 end.
Among various distribution channels, specialty stores are likely to emerge as one of the largest distribution channels. Specialty stores are projected to surpass US$ 1,000 million revenue by 2022 end. Meanwhile, sales of hair color through online is also likely to experience healthy growth during 2017-2022.
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The report also profiles companies that are expected to remain active in the expansion of global hair color market through 2022, which include Kao Corporation, Henkel AG & Co. KGaA, L’Oréal S.A, Avon Products, Inc., Estee Lauder Cos., Inc., Coty Inc., Combe Incorporated, Revlon, Inc., Godrej Consumer Products Limited, and Shiseido Company, Limited.
6 Key Highlights on Global Hair Color Market
North America is expected to remain dominant in the global hair color market. By the end of 2022, North America hair color market is estimated to reach nearly US$ 800 million revenue. Owing to the presence of the major brands and rising number of startups providing various types of hair colors along with the at-home services are some of the factors resulting in the significant growth of the hair color market in North America.
Europe is expected to witness impressive growth in the global hair color market. Meanwhile, Asia-Pacific Excluding Japan (APEJ) is also anticipated to witness healthy growth during the forecast period.
Permanent hair color is expected to emerge as the highly preferred hair color product. Permanent hair color is estimated to reach nearly US$ 1,300 million by the end of 2022.
Compared to chemical hair color, natural hair color is expected to gain more traction in the global hair color market. Accounting for nearly half of the revenue share by the end of 2017, natural hair color is estimated to create an incremental opportunity of over US$ 600 million between 2017 and 2022.
Female hair color is expected to experience significant growth than the male hair color. By the end of 2022, female hair color is estimated to reach nearly US$ 1,200 million revenue.
Sales of hair color through specialty stores is expected to be the highest. Accounting for nearly one-third of the revenue share by the end of 2017, specialty stores are estimated to create an incremental opportunity of over US$ 300 million between 2017 and 2022.
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