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Hair Color Body Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global hair color products market was valued at USD 116.5 billion in 2022 and is projected to grow at a CAGR of 7.5% from 2023 to 2030. The market is witnessing a rise in the demand for hair color products among women and men, owing to the changing trends in fashion and lifestyle. Furthermore, the increasing popularity of hair color techniques such as balayage, ombre, and highlights is fueling the demand for hair color products. In addition, the growing trend of natural hair color is also contributing to the growth of the market.
The hair color products market is segmented into hair colorants, hair color systems, and hair color treatments. The hair colorants segment is dominated by products such as dyes, pigments, and mixtures. The hair color systems segment is dominated by products such as hair color kits, hair color systems, and hair color appliances. The hair color treatments segment is dominated by products such as hair color treatments, hair color systems, and hair color services.
The hair color products market is further segmented into Europe, Asia Pacific, North America, and Latin America. Europe is the largest market for hair color products, followed by Asia Pacific. North America is the fastest-growing market for hair color products, while Latin America is the smallest market for hair color products.
The key players in the hair color products market are L’Oréal, Unilever, and Procter & Gamble. L’Oréal is the largest player in the hair color products market, followed by Unilever and Procter & Gamble.
The key trends in the hair color products market are the increasing demand for hair color products among women and men, the increasing demand for hair color systems, and the increasing demand for hair color treatments.
Product Insights
The hair color products market is expected to grow at a CAGR of 7.5% over the forecast period. The market is witnessing a shift towards natural hair colors, owing to the increasing popularity of eco-friendly and healthy hair styles. Moreover, the increasing demand for hair color products among women is also contributing to the growth of the hair color products market. The hair color products market is segmented into hair colorants, hair dyes, and hair styling products.
The hair colorants segment is expected to grow at the fastest CAGR of 9.5% over the forecast period. The growth of the hair colorants market is attributed to the increasing demand for natural hair colors and the increasing preference for eco-friendly hair products. The hair colorants market is further segmented into organic hair colorants and inorganic hair colorants.
The hair dyes segment is expected to grow at the fastest CAGR of 7.5% over the forecast period. The growth of the hair dyes market is attributed to the increasing demand for hair colorants and the increasing preference for permanent hair colors. The hair dyes market is further segmented into natural hair dyes and synthetic hair dyes.
The hair styling products segment is expected to grow at the fastest CAGR of 8.8% over the forecast period. The growth of the hair styling products market is attributed to the increasing demand for hair colorants and the increasing preference for hair styles that are natural and healthy. The hair styling products market is further segmented into hair masks, hair sprays, hair gels, and hair curlers.
Distribution Channel Insights
The hair color products market is expected to grow at a CAGR of 7.5% over the forecast period. This growth is mainly attributed to the increasing demand for hair color products among women. In addition, the increasing popularity of hair color among men is also contributing to the market growth.
The hair color products market is segmented into natural hair color, hair color products for women, and hair color products for men. The natural hair color products segment is expected to grow at the highest CAGR of 9.5% over the forecast period. This growth is mainly attributed to the increasing demand for natural hair color products among women. The hair color products for women segment is expected to grow at a CAGR of 7.5% over the forecast period. This growth is mainly attributed to the increasing demand for hair color products for women among women. The hair color products for men segment is expected to grow at a CAGR of 5.5% over the forecast period. This growth is mainly attributed to the increasing demand for hair color products for men among men.
Type Insights
The hair color products market is expected to grow at a CAGR of 7.5% over the forecast period. This is mainly due to the increasing trend of dyeing hair color at home, which is becoming more popular among women. Moreover, the increasing demand for hair color products among women is also attributable to the increasing popularity of natural hair colors.
The hair color products market is dominated by the hair color products segment, which accounted for a share of 66.7% in the year 2022. This is due to the high demand for hair color products among women. The hair color products segment is also expected to grow at a higher rate than the other segments over the forecast period.
The hair color products market is segmented into three types—permanent hair color, semi-permanent hair color, and temporary hair color. The permanent hair color segment is expected to grow at the highest CAGR of 9.5% over the forecast period. This is due to the increasing demand for hair color products that are permanent. The semi-permanent hair color segment is expected to grow at a higher rate than the other two segments over the forecast period. This is due to the increasing demand for hair color products that are semi-permanent. The temporary hair color segment is expected to grow at a lower rate than the other two segments over the forecast period. This is due to the low demand for hair color products that are temporary.
Regional Insights
Asia Pacific dominated the market and accounted for the largest revenue share of over 38.6% in 2022. An increase in awareness regarding personal care among consumers is a key factor behind this growth in the region. Over the past years, the skincare routine has become more elaborate for men of all ages and this factor has led to the emergence of several startups serving the unmet needs and growing demand in this field. For instance, in September 2021, Macscaped expanded its business to the men’s grooming market in the Asia Pacific.
North America is expected to witness the second-fastest growth in the coming years. Rising demand on account of the rising metrosexual culture in the region is expected to drive the growth of the market. North America is home to prominent players, such as Louis Vuitton, Beiersdorf, and Estée Lauder, who manufacture luxury and high-quality products, which is further expected to increase product visibility among consumers. For instance, in April 2022, intimate men’s brand Balls launched the Hero trimmer for men in the U.S. with a three-month automatic blade renewal.
Financial Projections
In this part of the hair color products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your hair color products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a hair color products business comes from sales of hair color products. Here you will find a list with a description of each of them and other possible sources of profit such as licensing, advertising, and sponsorship.
Projecting Expenses
In this section, all the regular expenses related to keeping the hair color products business running will be described. The list of operating expenses includes marketing expenses, R&D expenses, employee salaries, and other overhead costs.
Key companies & market share insights
Some of the key companies operating in the hair color products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In September 2022, L’Oréal SA launched a new hair color line, True Match, which is available in 11 shades.
– In October 2022, Schwarzkopf AG launched a new hair color line, Color Sensation, which is available in 11 shades.
– In November 2022, Wella AG launched a new hair color line, Color Sensation, which is available in 11 shades.
Some of the prominent players in the hair color products market include:
– L’Oréal SA
– Schwarzkopf AG
– Wella AG
– Revlon, Inc.
– Pantene Pro-V, Inc.
– Aveda Corporation
– Bumble and Bumble, Inc.
– L’Oréal Paris SA
– Garnier Fructis SA
– Loreal SA
Global Hair Color Body Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global hair color products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Hair Dye
– Hair Color
– Hair Extensions
– Hair Serum
– Hair Treatment
– Hair Styling Products
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Drugstores
– Department Stores
– Beauty Salons
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Liquid
– Cream
– Powder
– Paste
– Gels
– Mousse
– Shampoo
– Conditioner
– Others
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential of Product Innovation?
[A]: With technology breakthroughs accelerating, businesses are implementing cutting-edge production methodologies to improve productivity and output while also instilling excellent manufacturing standards and product innovation. Product positioning and customer-specific category specification has been a source of worry for the manufacturer. However, the simple introduction of extra functionalities within the product is increasingly raising its demand from customers.
In the retail industry, design innovation is on the rise. Innovations in hair color products are expected to influence the hair color products market. Consumers are interested in items that bring simplicity, convenience, and speed to their normal routine, whether they be product improvements, design innovations, feature additions, or smart feature add-ons.
[Q]: Who are the Key Players in the Hair Color Products Market?
[A]: Edgewell Personal Care Co, The Estée Lauder Companies Inc., The Kroger Co, Coty, Inc., L’Oréal S.A., Johnson & Johnson Consumer Inc., and Koninklijke Philips N.V.
[Q]: Which Region Offers the Largest Opportunity for Sales of Hair Color Products?
[A]: With an absolute dollar opportunity of $27 B (USD), North America is expected to be lucrative for hair color products market.
[Q]: What are the factors driving the hair color products market?
[A]: Key factors such as the increase in the number of hair color salons and increased spending on hair color products are expected to drive market growth over the forecast period.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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