Men’s Hair Color Market Scope
The men’s hair color market will capture a CAGR of 7.15% from 2022 to 2030. MRFR also adds that the global market should reach USD 864.06 Million by the year 2030.
Major Boosters and Challenges
Experimenting with hair colors is a significant beauty trend, and has been so since the ancient Romans and Greeks. Natural hair colors available in shades of blond, brown, black and red are the most popular among men. Despite women accounting as the leading end-user of hair color, men are fast emerging as a prominent consumer base in the hair color industry. This could be due to the soaring need to color grey hair, explore new shades, or fulfill the sense of fashion and self-care. A popular trend among the youth is matching their color with the outfit or as per the theme of social events. Hair color is also sparking the interest of older men that desire to cover grey hair, which can be a key growth inducer in the global market.
The growing population of millennials that is fashion trendy has been favorable for the men’s hair color market trends. Evolving lifestyles, increase in urbanization, and the growth in the youth populace in developing economies should present a host of profitable opportunities to leading vendors in the following years. Other factors facilitating market expansion can be the rising number of spa and salon services providing multiple shades of hair color as well as professional guidance. The burgeoning pool of metrosexual men interested in grooming and the surge in per capita disposable income, especially in developing regions can benefit the global market in subsequent years.
Renowned Companies
The top vendors in the men’s hair color market are John Paul Mitchell Systems (US), Combe Incorporated (US), Kao Corporation (Japan), Indus Valley (India), Revlon, Inc. (US), NATULIQUE ApS (Denmark), Coty, Inc. (UK), L’oreal S.A. (France), Cover Your Gray (US), Hoyu Co., Ltd (Japan), to name a few.
Market Segmentation
The men’s hair colour market report has been considered for product type, category, form, end user, and distribution channel.
The product types studied in the MRFR report are root touch-up, permanent, semi-permanent, temporary hair color, and more. Permanent and semi-permanent hair colours are the leading segment, and root touch-up hair colours should advance at the fastest rate of 8.32% over the ensuing period.
Category-wise, segments are conventional, natural, and organic. The leading spot has been secured by the conventional segment, since these hair colours have relatively lower prices and are more easily available in the market.
Forms in which men’s hair colours are generally available, including cream, gel, powder, and more, In 2018, the powder segment captured the largest share, and the cream gel segment is touted to attain the fastest growth rate of 7.45% in the following years.
Commercial and household users are the major end-users in the men’s hair colour market. The household segment stands at the top position, while the commercial segment is set to escalate at a better pace of 7.68% in the upcoming period. Commercial end users such as beauty salons and parlors are quite popular among in developed and developing nations. Various brands are teaming up with beauty salons and parlours to improve their profit margins.
Distribution channels analysed in the MRFR study are store-based as well as non-store-based. Store-based channels like specialty stores, supermarkets hypermarkets and convenience stores witness the highest demand among men who are interested in the personalized way of purchasing products. On the other hand, the highest growth rate of 7.94% will be procured by the non-store-based distribution channels in the coming years.
Regional Analysis
The regional appraisal of the men’s hair colour market trends consists of Europe, Asia Pacific, North America, the Middle East, South America, and Africa.
In 2018, North America was identified as the most profitable market and has retained its lead since then, thanks to the soaring number of men desiring to cover greys while also striving to make a style statement. This surge in the number of consumers wanting to be stylish has bolstered the sales of hair colours in North America. Several vendors in the region team up with well-known personalities or celebrities to promote their hair colors, which helps improve brand recognition among men. Another factor that encourages market growth is that people in the US tend to expend substantially on cosmetics and premium personal care items in the face of growing advertising and promotional activities conducted by the leading brands.
In view of the players’ rising focus on product innovation as well as new launches, the APAC men's hair colour market is expected to achieve the highest CAGR of 7.20% from 2020 to 2027. Consumers are constantly introduced to a variety of hair colours that are specific to their skin as well as their hair type, which helps foster sales. Leading firms in the region are investing generously in advertising to widen their customer base, especially among men.
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