Men’s Hair Color Market Forecast
Global Men’s Hair Color Market is projected to be valued at USD 502.84 Million by 2025, expanding at a CAGR of 7.20% during the forecast period. Men’s hair colors are sometimes designed to change the natural color of hair. They can also be used to switch to a color regarded as more fashionable or desirable. The growth of the global men’s hair color market is driven by the growing young age population, along with the increasing trend of personal grooming. However, the side effects and allergic reactions caused by some of the chemicals used in hair colors are hampering the growth of the market. The influence of social media and innovative marketing strategies is expected to create lucrative opportunities for market players in the coming years.
North America constituted a dominant share of the men’s hair color market in 2018, owing to the high adoption rate of hair colors by the male population. The US and Canada are among the most lucrative markets for manufacturers in the region. The increasing trend of self-grooming in the male population is creating a demand for men’s hair color in this region. The market in Asia-Pacific is anticipated to exhibit the highest CAGR during the review period. China is the major men’s hair color market growth in the region due to the organized retail sectors. Rising consumer spending on lifestyle products and the growing consumer awareness regarding product use are likely to be significant drivers for the growth of the Asia-Pacific men’s hair color market. The increasing per capita disposable income, increasing millennial population adopting the trending fashion, changing lifestyles, urbanization, and demographic change is further supporting the market growth.
Regional Analysis
Geographically, the global men’s hair color market growth has been categorized as North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, North America dominated the market, accounting for the largest share in 2018. Europe men’s hair color market accounted for the second-largest market share in 2018. Asia-Pacific is projected to register the highest CAGR of 7.20% during the forecast period.
Segmental Analysis: The Global Men’s Hair Color Market growth has been segmented based on product Type, Category, Form, End User, Distribution Channel, and Region.
By Product Type, the global market has been divided into permanent and semi-permanent hair color, temporary hair color, root touch-up, and others. The permanent and semi-permanent hair color segment accounted for the maximum market share in 2018, whereas the root touch-up segment is expected to register the highest CAGR of 8.32% during the forecast period. Root touch-ups are used to cover up the roots. As the colored hair will start to grow, the roots will begin to show the hair’s natural color, which will ruin the colored hair look. The root touch-up products will extend the time between each salon appointment, as they are easy to use and readily available in the market.
By Category, the global market has been divided into conventional and natural & organic. The conventional segment accounted for the maximum market share in 2018. The conventional men’s hair colors are based on color precursors, called oxidation dyes, and the final shade is developed by their interactions with an oxidizing agent. The demand for conventional men’s hair color is increasing among men across the globe, owing to its easy availability and low cost compared to the natural & organic category.
By Form, the global market has been divided into powder, cream & gel, and others. The powder segment accounted for the maximum market share in 2018, whereas the cream & gel segment is expected to register the highest CAGR of 7.45% during the forecast period. Cream & gel are some of the most widely available formats of hair color. The cream & gel segment is expected to register the highest growth in the global men’s hair color market. Premium men’s hair colors come in cream form. Due to the increasing growth of premium products, the demand for the cream & gel segment is expected to increase.
By end-user, the market has been divided into household and commercial. The household segment accounted for the maximum market share in 2018, whereas the commercial segment is expected to register a higher CAGR of 7.68% during the forecast period. Commercial end-use refers to beauty salons and parlors. The commercial segment is gaining acceptance both in developed and developing economies. Men’s hair color manufacturers are collaborating with beauty salons and parlors to enhance the volume sales of men’s hair color. The growth of the commercial segment is high due to the increasing disposable income and changing lifestyles of consumers. Consumers want to maximize leisure time, which has is expected to result in the growth of the commercial segment.
Based on the distribution channel, the global men’s hair color market growth has been classified into store-based and non-store-based. The store-based segment is further segmented into supermarkets & hypermarkets, convenience stores, and specialty stores. The store-based accounted for the larger market share in 2018. Store-based distribution channels include supermarkets & hypermarkets, convenience stores, and specialty stores. Supermarkets & hypermarkets account for the most personalized sales of hair care products, including men’s hair colors. Specialty stores or drug stores also contribute significantly to the distribution of men’s hair colors. Consumers prefer store-based channels as they provide a one-stop shopping experience.
Key Players
Market Research Future identified Revlon, Inc. (the US), L’oreal S.A. (France), Coty, Inc. (UK), Combe Incorporated (US), Indus Valley (India), Hoyu Co., Ltd (Japan), Cover Your Gray (US), John Paul Mitchell Systems (US), NATULIQUE ApS (Denmark), and Kao Corporation (Japan) as the Key Players in the Global Men’s Hair Color Market.
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Key Findings of the Study
The global men’s hair color market is projected to register a growth rate of 7.20% from 2019 to 2025. The increasing professional salon services for men followed by the growing preference for men’s grooming are projected to propel the growth of the global men’s hair color market.
The permanent and semi-permanent hair color segment is estimated to retain its prominent share by 2025. The root touch-up segment is anticipated to register a growth rate of 8.32% during the forecast period.
The conventional segment is estimated to retain its prominent share by 2025. The natural & organic segment is anticipated to register a higher growth rate of 7.68% during the forecast period.
The powder segment accounted for the largest market share in 2018 and is expected to grow at a rate of 7.15% during the forecast period.
The store-based segment is estimated to retain its prominent share by 2025. The non-store-based segment is anticipated to register the highest growth rate of 7.94% during the forecast period.
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