Global Men’s Hair Color Market is Anticipated to Acquire CAGR of 7.20% by 2025
As per Market Research Future (MRFR) analysis, the global men’s hair color market is projected to reach USD 502.84 million with a CAGR of 7.20% from 2017 to 2025 (forecast period). The report evaluates the effects of the COVID-19 pandemic on the global men’s hair color market and provides a concise estimation of the expected volatility of demand during the forecast period.
Hair color is a compound that is applied to the hair to color the hair. Hair coloring is done to cover the gray hair, restore the original hair color, or to highlight the chosen portion of the hair, mostly to make it appear more attractive. Along with the young population, among whom there is a tendency to color hair with different colors, older people are also taking on hair color to cover their gray hair and hide aging signs. Hair coloring can be done by a professional hairdresser or at home independently.
Market Dynamics
The global men’s hair color market is expected to rise significantly during the forecast period. In recent years, men have become more mindful of hygiene, grooming, and personal aesthetics. In addition, the growing male population concerned with good looks and self-grooming is expected to drive the global men’s hair color market. They are no longer limited to shaving products and deodorants but are becoming increasingly regular consumers of grooming products such as facial scrubs, moisturizers, and hair care products, among others. Recently, however, male demographics have acquired a vast market in the beauty industry. In addition, the rise of self-identifying metrosexual men and the high disposable per capita income is likely to drive the market.
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Nevertheless, the adverse side effects of chemicals may hinder the development of the global market. A handful of hazardous ingredients or chemicals are found in both professional and counter-products, including resorcinol, persulfates, ethanolamine (MEA), ammonia, parabens, propylene glycol, and metals such as nickel. Any of these ingredients or chemicals can cause serious health problems.
Market Segmentation
The global market for men’s hair color has been segmented into product type, category, form, end-user, and distribution channel.
By product type, the global market for men’s hair color has been segmented into permanent and semi-permanent hair color, root touch-up, temporary hair color, and others.
By category, the global market for men’s hair color has been segmented into conventional and natural & organic.
By form, the global market for men’s hair color has been segmented into powder, cream & gel, and others.
By the end-user, the global market for men’s hair color has been segmented into household and commercial.
By distribution channel, the global market for men’s hair color has been segmented into store-based and non-store-based. The segment for store-based is further sub-segmented into convenience stores, supermarkets & hypermarkets, and specialty stores. The store-based segment is projected to drive the global market and be valued at USD 384.77 million by the end of 2025. Store-based distribution channels include convenience stores, supermarkets & hypermarkets, and specialty stores. Supermarkets & hypermarkets make up the majority of personalized sales of hair care products, including men’s hair colors. Specialty stores or drug stores often make a significant difference in the distribution of male hair colors. Consumers prefer store-based channels because they offer a one-stop shopping experience. However, the non-store-based segment is expected to grow at the highest CAGR in the forecast period. Non-store-based distribution channels include e-commerce, where manufacturers distribute hair color to men through either different online shopping sites or their websites, where they can display a wide range of products. Companies are introducing new products of enhanced quality and formulations that cannot always be made available to customers in various regions. The e-commerce networks help to speed up this cycle so that producers can meet a broader customer base. Moreover, this mode promotes awareness-raising of brands via social media.
Regional Analysis
Regionally, the global market for men’s hair color has been segmented into North America, Asia Pacific, Europe, and the rest of the world
North America is anticipated to hold a leading share of the men’s hair color market during the forecast period. The region had a market share of 41.57% in 2018. The US is the most significant contributor to the rise of the North American industry. The market in the area is anticipated to have a significant CAGR of 7.11% during the forecast period from 2019 to 2025. The growing geriatric population is anticipated to positively impact the growth of the North American men’s hair color market. As per the Population Reference Bureau (PRB), the geriatric population in the US is estimated to cross 22% of the total population in 2050, up from 16% in 2018.
In addition, the European market holds a significant share of the men’s hair color market due to the rising men’s hair color product portfolio of key manufacturers.
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Key Players
The key players identified by MRFR in the global men’s hair color market L’oreal S.A. (France), include Revlon, Inc. (US), Coty, Inc. (UK), Combe Incorporated (US), Hoyu Co., Ltd (Japan), Indus Valley (India), Cover Your Gray (US), John Paul Mitchell Systems (US), NATULIQUE ApS (Denmark), and Kao Corporation (Japan).
Note : Our team of researchers are studying Covid-19 and its impact on various industry verticals and wherever required will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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