The global market for hair colour products is growing at a rapid pace, leading to the development of more complex hair colour formulas and procedures.
This is according to a new report from ResearchAndMarkets.com, which predicts that the market will reach a value of $33,794.2 million by 2030, growing at a CAGR of 7.5%.
The report attributes the market growth in large part to the ageing population and increased interest in colours that lighten the hair. Says the report: “There are now dozens of hair colour products on the market, catering to every type of consumer. Some popular hair colour products include permanent hair dye, semi-permanent hair dye, temporary hair dye and hair chalk. Today, some people choose to go natural or semi-natural, so as to avoid using any chemicals in their hair. Natural methods usually include using conditioner and cream mixed with herbs or spices such as ginger, onion or garlic.
“Some of the most popular hair colours available today include light brunettes, dark brunettes, redheads and blondes. Even though hair colour is most commonly associated with women, some men are starting to experiment with new hair colours, as they see them as an opportunity to improve their appearance. For example, copper highlights are becoming quite popular among men who want to add some highlights without having to dye their entire head of hair.”
Women generated over 60% of the market revenue in the year 2021. As the report notes, according to the American Academy of Dermatology, women will use hair dye products more than any other type of cosmetic product. This is because women often want to change their hair colour in order to match their outfit, personality or mood.
By product type, chemical colours are projected to grow at the fastest CAGR of 8.7% during the forecast period (2022-2030). However, the interest in natural hair colours is growing at a rapid pace, as more and more people are choosing to go beyond the traditional black, brown and blonde colours. As a result, many companies are now specialising in natural hair colour products, and there are even a few celebrity hairstylists who are starting to offer their clients natural hair colour options.
In terms of usage, the permanent hair colour segment is holding over 50% share of the global hair colour market.
Among the companies mentioned in this report are Henkel Corp; L'Oreal; Coty, Inc. Revlon and the Unilever Group.
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