The global novelty hair color market is currently valued at more than used 1,607 million and is expected to reach USD 3,537 million by 2021, says Technavio.
Technavio has announced its latest market research report on the global novelty hair color market, under its cosmetics and toiletry portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Coty, Henkel, Kao, and L’Oréal.
According to Brijesh Choubey, a lead analyst for cosmetics and toiletry research at Technavio, “The availability of a wider product portfolio and constant product innovation are some of the key factors that are propelling the demand for novelty hair colors in the global market. For instance, P&G’s Wella Professional has 116 color shades for its product Koleston Perfect. Besides, the introduction of hair chalks, a form of hair color that comes in different color shades, is also encouraging consumers to change their hair color more frequently, leading to the growth of the market.”
Innovation in terms of product formulation is one more factor driving the sale of hair colors. Manufacturers are introducing hair color products which have stain-free application. Use of ingredients like conditioning agents or oils to reduce harsh effect of chemicals, ammonia-free formulation, and packaging innovation are some other aspects of product line innovation.
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Increasing demand for organic ingredients-based hair colors
Consumers are now moving towards the use of natural and herbal coloring agents for their hair owing to increased awareness about the damages caused by chemicals present in conventional hair colors. This change in consumer preference is prompting manufacturers to introduce plant-extracted color in their product portfolio. This particular product category of hair color is expected to drive the market growth in the near future. Some of the natural hair colors introduced in the global novelty hair color market include Henkel’s Schwarzkopf Professional Essensity, P&G’s Clairol Natural Instincts, and L’Oréal’s Paris Prodigy.
Growing e-retailing with the proliferation of smartphones, social media marketing, and selfie
Manufacturers of hair colors are offering products under different price segments through a third-party portal and through their own online shopping portals. Furthermore, vendors are also providing services online that help the customers to choose a color shade that suits them. This customized and personalized service provides the color shade suggestions based on the customer’s hair color and preferences. P&G’s Clairol and Wella Professionals, L’Oréal’s L’Oréal Paris and Garnier, and Henkel’s Schwarzkopf Professionals are some examples of this service that is currently available in the market.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Novelty Hair Color Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Liquid Detergent Market 2017-2021
- Global Fabric Conditioner Market 2017-2021
- Global Professional Skincare Market 2017-2021
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