Global Novelty Hair Color Market 2017-2021

Overview of the global novelty hair color market

Market research analysts at Technavio predict that the global novelty hair color market will grow steadily during the next four years and post a CAGR of over 21% by 2021. This market research analysis identifies the wide product portfolio and product innovation as one of the primary growth factors for this market. Innovation in terms of product formulation is a major factor driving the sales of hair colors. The use of ingredients such as conditioning agents or oils to reduce the harsh effect of chemicals, ammonia-free formulation, and packaging innovation are some other aspects of product line innovation. Additionally, manufacturers are introducing hair color products which have stain-free application and are also focusing on the introduction of hair chalks that will help consumers to change their hair color more frequently.

One of the latest trends that will gain traction in the novelty hair color market in the coming years is the increasing demand for organic ingredients-based hair colors. Consumers are now moving towards the use of natural and herbal coloring agents for their hair since they are ammonia-free and are less harmful than the synthetic colors. This demand, will in turn, motivate the manufacturers to introduce plant-extracted colors in their product portfolio.

Competitive landscape and key vendors

Due to the presence of a few major players and several small and mid-size vendors, this market appears to be highly competitive. Some of the strategies followed by the vendors to gain maximum market shares are innovation in product lines and product portfolio extension, the introduction of natural and herbal hair color products such as ammonia-free hair dye and colors, investments in new markets, and localization for better supply chain and reach. Additionally, major vendors also follow M&A strategies to increase their market shares and penetrate the untapped markets.

The leading vendors in the market are -

• Coty
• Henkel
• Kao
• L’Oréal

The other prominent vendors in the market include NEW AVON, Cadiveu Professional, Chatters, Combe, Conair, Estée Lauder, Godrej Consumer Products, Johnson & Johnson, Revlon, Shiseido Company, TONI&GUY, and World Hair Cosmetics (Asia).

Segmentation by end-user and analysis of the novelty hair color market

• Women
• Men
• Unisex

During 2016, the women segment accounted for the major shares and dominated this market. The early adoption of hair dyes and the use of hair colors are driving the growth of this global market due to the changing pattern of hair colors and dyes among the women consumers. The major contributor of this segment is the sub-age group of 20-34 years. Additionally, the consumption of novelty hair color products is also increasing among the younger consumer category (age range 16-19 years) because of the increasing fashion consciousness.

Geographical segmentation and analysis of the novelty hair color market

• Americas
• APAC
• Europe
• MEA

This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the market by 2021. The US is the largest market in this region and the novelty hair color sales through the offline channel accounted for the major shares and the specialty stores contributed to the maximum revenue. Additionally, the sales through hypermarkets, supermarkets, and convenience stores also accounted a significant share of the market’s revenue.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global novelty hair color market?
• What are the key market trends impacting the growth of the global novelty hair color market?
• What are the challenges to market growth?
• Who are the key vendors in the global novelty hair color market?
• What are the market opportunities and threats faced by the vendors in the global novelty hair color market?
• Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA.
• What are the key outcomes of the five forces analysis of the global novelty hair color market? 

Technavio also offers customization on reports based on specific client requirement.