The hair color market is expected to grow from US$ 23,762.28 million in 2022 to US$ 35,201.69 million by 2028; it is estimated to grow at a CAGR of 6.8% from 2022 to 2028.

Hair color, including the semi-permanent ones, helps in providing a different color to the hair that can also help make it stronger. Hair color also plumps up the hair shafts, which can temporarily add volume and body to the tresses. They are available in a wide variety of colors and shades, which has piqued the interest of people across age groups. Influence of pop culture on the fashion choices among the youth has played a major role in the high growth of hair color market.

Based on the type, the hair color market is segmented into powder, cream, and others. In 2021, the cream segment led the market. Cream hair colors are being increasingly used by consumers as they are thicker in consistency. The hair color manufacturers are providing various shades and colors in the cream category. Many manufacturers also provide hair colors that are herbal and organic. Some of the products also have a unique nourishing ability due to their herbal ingredients that help strengthen the hair.

The hair color market, based on geography, is primarily segmented into North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA). In 2021, Asia Pacific dominated the global market. The growing demand for natural and organic hair care products, along with the growing aging population, are some of the factors driving the hair color market growth across the region. Hair colors help people cover grays, and sport a different style of hair to their natural hair color. Highlights or partially coloring the hair has grown in popularity among the youth of the region. In addition to this, the aging population across the region make extensive use of hair colors to color gray hair and hide signs of ageing. Coloring the hair helps to emphasize texture and add luster to bring back hair's natural shine that has been damaged due to overexposure to the sun as well as due to pollution. Changing lifestyles due to the increased disposable income and urbanization in developing countries have also increased the demand for hair colors.

The consumer goods and many other industries faced unprecedented challenges upon the onset of the COVID-19 pandemic. The shortage of raw materials and laborers, shutdown of factories, and other operational difficulties induced by safety protocols adversely affected the hair color market. However, vaccination drives have led to a rise in business activities across the world. The economies are reviving their operations. Thus, the demand for hair color is expected to rise globally in the coming years. Key manufacturers have resumed their operations, thereby restoring their hair color production capacities. The COVID-19 pandemic has forced the closure of beauty salons and parlors, which has reduced the demand for professional hair colors. With the temporary closure of many hair salons, the at-home hair color business grew during the pandemic. The pandemic has driven consumers to color their hair at home more often.

Arctic Fox, Coty Inc., Henkel AG & Co. KGaA, Kao Singapore Pte Ltd., L'Oreal Groupe, Revlon, Hygienic Research Institute Pvt. Ltd. (Brand-Streax), PZ Cussons Beauty LLP, Unilever Plc, and Wella Operations US LLC are among the leading players in the hair color market. These companies are adopting strategies such as mergers and acquisitions and product launches to expand their geographic presence and consumer bases.

The overall hair color market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants of this process include VPs, business development managers, market intelligence managers, national sales managers, and external consultants-such as valuation experts, research analysts, and key opinion leaders-specializing in the hair color market.