Hair Color Market 2024-2033) | Insights, Industry Outlook, Growing Trends And Top Key Players

The Hair Color by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Hair Color, The hair color market size has grown rapidly in recent years. It will grow from $23.35 billion in 2023 to $25.8 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increased usage of hair color to cover gray hair, increased investments in promotional activities like celebrity endorsements, increased disposable income and innovations in hair color production.

The hair color market size is expected to see rapid growth in the next few years. It will grow to $38.01 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to global population growth and urbanization, increasing number of spa and salon services, increasing mergers and acquisitions, increasing beauty concern and increasing older population. Major trends in the forecast period include offering virtual hair coloring tools for greater customer convenience, focusing on vegan hair colors that are milder, or less harsh chemicals than non-vegan hair dye, leveraging ai-powered hair dye technologies to offer better home hair color options and focusing on to product innovations.

The increase in spa and salon services is expected to propel the growth of the hair color market going forward. An increase in spa and salon services refers to a rise in the number of saloons and spa services across the globe. The saloon and spa services provide customized hair color services to customers to improve their appearance. For example, in January 2022, according to Zolmi, a Poland-based saloon software company, there are over 80,000 salons scattered around the US, providing various beauty services. Their combined yearly revenue is as high as $20 billion and growing. Therefore, the increasing number of Spa and salon services is expected to generate high demand in the hair color market.

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The hair color market covered in this report is segmented –

1) By Usage: Permanent Hair Color, Semi-Permanent Hair Color, Demi-Permanent Hair Color, Temporary Hair Color, Hair Highlights and Bleach

2) By Distribution Channel: Offline, Online

3) By Application: Total Gray Coverage, Touch-Up For Roots, Grays Highlighting

4) By End-User: Male, Female, Unisex

Product innovations are the key trend gaining popularity in the hair color market. Major companies operating in the hair color market focus on developing new and innovative hair color products to strengthen their positions. For instance, in 2022, Loreal, a cosmetics and haircare company, launched Copyright. Copyright is a salon stylist-friendly AI-connected hair color system that provides on-demand, personalized hair color. It solves the challenges of getting the correct and consistent color allowing colorists to minimize complications.

The hair color market report table of contents includes: