Wish to hide the grey and white strands on your head? Or simply looking for a makeover to look fabulous? Whatever the reason may be, coloring your hair will help you put the best foot, err, we mean your best face forward. Today, there is a wide color palette available for consumers to choose from, right from various shades of blue to orange, you name it and you get it!
The haircare market is the second largest category of the beauty and personal care market, worldwide. Hair color or hair dye products fall under the broad category of haircare products. And therefore, the global novelty hair color market looks promising in terms of CAGR during the next five years. The reasons for the accelerating growth momentum in this particular market segment are changing lifestyle in developing countries, rise in male grooming trend, growing number of fashion conscious consumers and the wide product portfolio and constant innovation offered by the vendors in the market. Let us have a look at the trends of the novelty hair care market.
Red, Purple or Blue; Color Me in Every Hue
Under the novelty hair color market, there are four different variants available such as permanent hair color, semi-permanent hair color, temporary hair color, and hair highlights and bleach. The sudden surge in demand for hair color products can be attributed to the changing consumption patterns and economic development coupled with fashion conscious consumers and the enormous growth in the retail sector.
Customers prefer going to the salon to color their hair rather doing it themselves as they continuously seek convenience and quality in everything. As a result, the vendors are now targeting the professional salons to reach their end-users and eventually, expand their market share.
Due to the increasing health concerns and awareness of side effects of using hair color products, vendors are replacing harmful chemicals with less oxidant and introducing plant extracted color in their product portfolio, thereby, pushing the demand for hair color products that contain natural and herbal ingredients.
The proliferation of smartphones, social media and selfies has given people the access to hair color applications to self-check the color and look of the hair and they can also make use of virtual reality to see and experience how they would look after applying a particular shade or color. Vendors like Coty, Henkel, Kao and L’oreal have implemented various strategies to provide selfie enabled services to consumers through their mobile applications and upload on the online portal, rewarding the consumers who post the best selfies.
The Technavio Color Advantage
Our team of expert analysts, at Technavio, have developed a comprehensive industry report on the global novelty hair color market and it looks very bright and soothing during the forecast period (2017-21). To know more about the industry and its drivers, challenges and trends, ask us for a FREE sample, or even better, ask us for a customized report, NOW
