ResearchAndMarkets.com has completed its "Hair Color Global Market Report 2022" and is offering the following tidbits from the paid research report.
* The global hair color market is expected to grow from $19.33 billion in 2021 to $20.98 billion in 2022 at a compound annual growth rate (CAGR) of 8.5 percent. The hair color market is expected to grow to $29.01 billion in 2026 at a CAGR of 8.4 percent.
* North America was the largest region in the hair color market in 2021. The regions covered in this hair color market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
* 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 salons and spa services across the globe. The salon and spa services provide customized hair color services to customers to improve their appearance.
For instance, In January 2020, according to Zolmi, a salon software company, there were around 80,000 salons in the USA, and the salon industry generated revenue of $20 billion with 14.3 percent ($2.86 billion) retail sales of hair colors. Therefore, an increase in spa and salon services is driving the growth of the hair care market.
* Product innovations are the key trend gaining popularity in the hair color market. Major companies operating in the hair color market are focused on developing new and innovative hair color products to strengthen their positions. For instance, in 2022, L'Oreal, the cosmetics and haircare company, launched Copyright. Copyright is a salon stylist-friendly AI-connected hair color system that provides on-demand, personalized hair color. It solves the challenges of getting the correct and consistent color allowing colorists to minimize their complications.
* In February 2022, Honasa Consumer, an India-based consumer product manufacturing company, acquired the BBLUNT brand from Godrej Consumer Products Limited (GCPL) for US$ 0.017 billion. This acquisition will help Hosana Consumers to completely own BBLUNT's hair care and styling products business to expand their geographical, technological, product, and customer base. BBLUNT is an India-based brand that provides premium hair care, hair color, and styling products.
* The main types of usages of the hair color market are permanent hair color, semi-permanent hair color, temporary hair color, and hair highlights and bleach. Permanent hair color works by interacting with the natural pigment of the hair and changing the hair's structure.
The dyes in permanent hair color are actually tiny colorless molecules. The distribution channels are offline and online. The applications involved are total gray coverage, root touch-up, and highlighting. The various end-users included are male, female, and unisex.
* Major players in the hair color market, according to the report, are Henkel AG and Co.; Coty Inc.; L'Oreal; Kao Corporation; Avon Products; Revlon; The Estee Lauder Companies; Godrej Consumer Products Limited; Unilever Group; Combe Incorporated; Conair Corporation; New Avon Co.; Procter & Gamble; Shiseido Company Limited and Hoyu Co. Ltd.
For more information about the report visit https://www.researchandmarkets.com/r/8bxvk6