Hair Color Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

Description

Hair Color Market size was valued at USD 22 billion in 2021 and is expected to grow at a CAGR of 5% from 2022-2028. Hair colors are cosmetics used to change the color of one’s hair. Its primary goal is to conceal people’s grey hair, although it is now more commonly used for fashion purposes. Hair coloring can be done at home or in a spa or hair salon by a professional. Consumers are more receptive to its constantly growing adoption due to the availability of various hair colors and constantly changing fashion trends. Most hair color manufacturers create brightening colors, which contributes to consumers’ demand for the product. Hair brightness improvements, a form of hair color, are the most widely used product. Next, hair color solutions that claim to be long-lasting, easy to use, and herbal. As a result of these advancements, customer acquisition, product visibility, and adoption rate have all grown, driving up the market’s price factor. Many millennials are following contemporary fashion trends, such as colorful hair coloring. The global hair color market is expected to rise as the population of young people in developing nations grows, urbanization grows, and lifestyles change. Creating a diverse variety of natural and organic hair colors with conditioning components will generate significant revenue for market players. In May 2020, Coty agreed to sell a majority of its Beauty and Retail Hair Businesses, including the ghd brands, Clairol, Wella and OPI for US$ 4.3 billion to KKR. Under the terms of the agreement, Coty will spin off its Professional Beauty Division as a separate company, with KKR taking a 60% stake and Coty keeping the remaining 40%. In February 2021, L’Oréal has completed the acquisition of Takami Co. and added vital products from Takami Co. to its portfolio.