Growing Demand for Organic Hair Dye Raising Market Revenue across Regions, Evaluates Fact.MR
Published : 26 Mar 2021 Industry: Consumer Goods
North America and Europe collectively account for a majority of the demand for hair dye from the consumption side. This is due to the fact that a majority of the countries in these regions come under the high-income category, which reflects on higher disposable income being spent on personal and hair care products. In regions such as MEA and Asia, demand for halal-based hair dye has been surging over the last few years.
The COVID-19 pandemic shut down salons across regions, reflecting decreasing demand for professional hair colour. To cope up with this loss, key players are investing in developing DIY-based professional hair colors that can be used at home. This step is going to restore the market curve of professional hair care back to normal and maintain its demand. Further, increase in demand for organic hair dye from the consumer side due to its multiple benefits over synthetic hair dye is one of the prime reasons for overall rising demand.
As per the report published by Fact.MR, the global hair dye market is anticipated to surpass US$ 20.4 Bn in 2021, and is poised to expand at a CAGR of close to 5% over the next ten years.
Key Takeaways from Market Study
- The hair dye market is anticipated to add 1.6X value by 2031.
- Liquid hair dye captures a major portion, equivalent to more than half of the global market share, and is set to create an absolute $ opportunity of around US$ 6.2 Bn over 2021-2031.
- Among the sales channels, online stores are expected to grow at a faster pace, owing to the ongoing pandemic and easy availability of the product.
- In 2021, Europe is set to dominate market revenue, but by 2031, it is anticipated to lose 118.7 BPS.
- The market in MEA and East Asia is expected to rise at around 6% CAGR through 2031.
- Due to the COVID-19 crisis, demand for hair dye was hit in 2020, which saw a decline in the 2nd and 3rd quarters of the year.
- Demand for permanent and semi-permanent hair dye to remain high.
- The market in the U.S. is expected to expand at a CAGR of around 4% through 2031, with China slated at more than 6%, and India at over 5%.
“Organic hair dye will attract new customers and enhance market growth over the coming years,”says a Fact.MR analyst.
Key players such as L’Oreal Paris and Revlon Inc. have been investing in providing DIY (Do-It-Yourself) hair color services to attract more at-home hair colouring customers. Such enhancements will drive market growth in the medium- to long-term forecast period.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global hair dye market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of product (permanent hair dye, semi-permanent hair dye, demi-permanent hair dye, bleach-highlights hair dye, and temporary hair dye) , form (powder and liquid), dye color (black, brown, blonde, red, and other colors), buyer (individual customers and professional beauty salons), and sales channel (modern trade, departmental stores, speciality stores, online stores, and other sales channels), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
About the Retail & Consumer Goods Division at Fact.MR
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Consultant - Retail & Consumer Goods