Latest News- Hair Color Market: Permanent is expected to lead the Product segment during 2024-2028
The Hair Color Market is being driven by Innovation in product formulation and formats
The Hair Color Market is expected to grow at a CAGR of 5.78% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 9.86 billion. The hair color market is experiencing a significant shift as consumers increasingly embrace unconventional and vibrant hues. Social media platforms, particularly Instagram, have played a pivotal role in this trend, exposing users to a plethora of imaginative and colorful hairstyles. This demand for personalized beauty solutions has prompted manufacturers to expand their product offerings, introducing an array of unique and colorful hair colors to cater to evolving consumer preferences. As a result, the global hair color market is poised for growth during the forecast period, driven by the rising trend toward bold and expressive hair colors.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Product (Permanent, Semi-permanent, Temporary, Highlights and bleach) End-user (Women, Unisex, Men) Geography (Europe, North America, APAC, South America, Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Hair Color Market Research Report
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The Hair Color market is experiencing significant growth due to urbanization, evolving lifestyles, and modernized production methods. Highlighting trends, innovative salon tools, and advanced hair care products are driving demand. Emerging nations and the male identifying population are new markets. Technological breakthroughs in hair colorants, including natural ingredients and reduced ammonia or toxic chemicals, cater to changing preferences for hygiene, grooming, and personal aesthetics. Eye-catching shades, salon services, and complementary shaving, deodorant, moisturizer, and facial scrub products complete the offering.
The global hair color market is a significant segment of the larger Personal Care Products market, encompassing manufacturers specializing in research and development (R&D) and production of hair coloring solutions, as well as other personal and beauty care items such as cosmetics and perfumes. According to Technavio, the Personal Care Products market's size is determined by the collective revenue generated by these manufacturers. Key growth drivers for this market include rising urbanization rates, evolving lifestyles, and increasing disposable income, leading to increased demand for hair coloring products, as well as technological breakthroughs and modernized production methods. Emerging nations present significant opportunities for market expansion, particularly in regions with a high population density and cultural emphasis on appearance and social media influence.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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