Men Hair Color Market

Growing sales via formal retail channels is driving the market growth

Market CAGR for men’s hair color is being driven by the rising sales via formal retail channels. Men's hair color sales are significantly boosted by the expanding availability of grooming goods at established retail outlets. These goods were previously offered in several locations, including convenience stores, beauty salons, and particular retail establishments. Retail establishments, including supermarkets and hypermarkets, now carry men's hair color to make purchases easier, thanks to an expanding consumer base. The widespread availability of men's hair color through internet retailers has benefited overall sales.

Many companies that produce men's hair colors, including Just for Men, Cover Your Grey, and Revlon, have created user-friendly web interfaces for their goods. In addition, national and regional supermarket chains are profiting from the men hair color boom.

The most important factor driving the worldwide hair color market is the continual increase in population, which results in older people using hair color to cover up their grey hair and younger people using hair color to stay current with fashion, among other things. The market for hair color will expand in the upcoming years due to the expansion of spa and salon services that include amenities like coloring and maintaining hair. The market for hair color is projected to have modest expansion due to rising urbanization, changing lifestyles, excellent income levels, and more health and wellness awareness.

Demand for the product is increased due to increased product advertising, health organization marketing, and social media use by customers who are confident and prepared to buy the product. Additionally, it is anticipated that increasing brand recognition and the influence of hair coloring products through social platforms during the forecast period will further drive market expansion.

Consumer preference is further supported by growing consumer awareness of the substances in hair color and their effects on hair, which further fuels market expansion. The market is also experiencing considerable development due to the aging population, as older individuals typically dye their hair. Additionally, it is anticipated that shortly, the market will benefit significantly from the growing trend toward organic hair color products around the globe. Due to the disruption of the supply chain, manufacturing, and governmental restrictions on opening retail stores worldwide, the COVID-19 epidemic has had a detrimental effect on the worldwide hair color business.

Additionally, the COVID-19 pandemic resulted in a drop in sales revenue for hair color products among the top market participants, which had an additional negative effect. By giving guys free samples, some merchants are boosting sales even further. Sales are also being supported by marketing and promotional initiatives for men's hair color at different retail chains. Thus, driving the Men’s Hair Color market revenue.

The Global Men’s Hair Color Market Industry is experiencing a notable surge in demand, driven by the increasing awareness of male grooming. As societal norms evolve, men are increasingly embracing hair color as a means of self-expression and personal style. This shift is reflected in the market's projected value of 0.57 USD Billion in 2024, indicating a growing acceptance of hair coloring among men. The rise of social media and influencer culture further amplifies this trend, encouraging men to experiment with various shades and styles. Consequently, the industry is likely to witness sustained growth as more men prioritize grooming and aesthetics.

By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Men's Hair Color market area will dominate this market; self-grooming among men is becoming more popular, and rising disposable money is fueling industry expansion. The opening of professional hair salons to cater to a broad consumer base is another trending topic in the North American industry.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy,  China, Japan,Spain, India, Australia, South Korea, and Brazil.

Figure 2: MEN’S HAIR COLOR MARKET SHARE BY REGION 2022 (USD Billion)

Source Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe Men's Hair Color market accounts for the second-largest market share, with the increased consumer spending on hair care products and the expanding popularity of high-end hair color among local celebrities. Further, the German Men's Hair Color market held the largest market share, and the UK Men's Hair Color market was the fastest-growing market in the European region.

The Asia-Pacific Men's Hair Color Market is expected to grow fastest from 2023 to 2032. Due to the rising consumer expenditure on hair care products and the rising popularity of high-end hair color products among celebrities in the area. Moreover, China's Men's Hair Color market held the largest market share, and the Indian Men's Hair Color market was the fastest-growing market in the Asia-Pacific region.

Leading market companies are extensively spending R&D on increasing their product lines, which will help the Men’s Hair Color market grow even more. Important market developments include new product releases, contractual agreements, acquisitions and mergers, greater investments, and collaboration with other organizations. The Men’s Hair Color industry must produce cost-effective merchandise to flourish and thrive in a more competitive and increasing market climate.

Manufacturing locally to reduce operating costs is an effective business strategy manufacturers use in the worldwide Men’s Hair Color industry to serve clients and expand the market sector. The Men’s Hair Color industry has provided some of the most important benefits recently. Major players in the Men’s Hair Color market, including Coty Inc, and others, are attempting to increase market demand by investing in research and development operations.

François Coty created the French-American cosmetics corporation Coty Inc. in 1904. It creates, produces, sells, and distributes fragrances, cosmetics, skincare, nail care, and professional and consumer hair care goods through its subsidiaries. The business has three divisions Consumer Beauty, which specializes in body care, color cosmetics, perfumes, and hair coloring and styling products; Luxury, which sells high-end skincare, cosmetics, and fragrances; and Professional Beauty, which caters to professionals working in beauty salons and nail spas. "Celebrate and liberate the diversity of beauty" is the motto of Coty.

In May 2020, Most of Coty's beauty and retail hair businesses, including the ghd brands Wella, Clairol,  and OPI, will be sold to KKR for US$ 4.3 billion. The agreement states that Coty has spun off its Professional Beauty Division, with KKR acquiring a 60% share and Coty holding the remaining 40%.

A French personal care corporation with its headquarters in Paris is L'Oréal S.A. It is the biggest cosmetics company in the world and has expanded its business, focusing on hair care, skin care, sun protection, make-up, and scent. Brands are typically grouped according to their markets, such as the active cosmetics, luxury, professional, and mass markets. Galderma and The Body Shop are physically connected to the corporate headquarters. Additionally, L'Oréal holds stakes in several industries, including fine chemicals, finance, health, design, advertising, and insurance.

In April 2021, The skincare brand Takami, owned by Doctor Hiroshi Takami, founder of two namesake dermatological clinics in Tokyo, has a licensing arrangement with the Japanese firm Takami Co., which develops and markets goods under that license. L'Oréal had signed the deal.