Rising Demand for Natural Hair Color to Increase Revenue Streams, Evaluates Fact.MR
Published : 08 Jun 2021 Industry: Consumer Goods
As per a revised report published by Fact.MR, the global hair color market is anticipated to surpass a valuation of US$ 21.4 Bn in 2021, and expand at a CAGR close to 5% over the next ten years.
The ongoing COVID-19 pandemic forced all salons to close, indicating a drop in demand for professional hair colour. To deal with it, major businesses are investing in the development of DIY-based professional hair colour that can be applied at home. There has been rapid increase in consumer desire for natural hair color due to its numerous advantages over synthetic hair color.
From a regional perspective, North America and Europe accounts for more than half of the global share of hair color sales. This is because majority of the countries in these regions have higher disposable income, which eventually translates to more spending on personal care and grooming.
Key Takeaways from Market Study
- The global hair color market is anticipated to add 1.7X value by 2031 as compared to its current value.
- Natural hair color captures a major portion, equivalent to more than half of the global market share.
- Among the various sales channels, online stores are expected to proliferate over the years to come, owing to change in consumer behaviour, easy Internet availability, and shrinking leisure time.
- The market in Europe is set to dominate revenue by the year 2031.
- The market in both, MEA and Latin America is expected to rise at around 5% - 6% CAGR each over the next ten years.
“Investing in the production of natural hair color will be beneficial for market players in the long run,” says an analyst of Fact.MR.
Key market players such as and Revlon and L’Oreal have been investing in providing DIY (Do-It-Yourself) hair color products to attract consumers looking to groom themselves at home. Such strategies will drive growth of the hair color market 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 color 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, semi-permanent, demi-permanent, bleach highlights, and temporary), nature (natural and chemical), gender (male, female, and unisex), and distribution channel (online, specialty stores, departmental stores, hypermarkets, supermarkets and convenience stores, salon, and others), across six major regions of the world (North America, Latin America, Europe, Japan, APEJ, and the Middle East and Africa).
About the Retail & Consumer Goods Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned consumer goods team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the consumer goods industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
For more information, refer to our market research report or contact the PR author.
Sr. Consultant – Retail & Consumer Goods