According to the report published by Allied Market Research, the global hair color spray market was estimated at $291.90 million in 2018 and is expected to hit at $481.60 million by 2026, registering a CAGR of 6.6% from 2019 to 2026. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and changing market trends.
According to the insights of the CXOs of leading companies, rise in concerns over maintaining the quality of hair among the customers, is one of the key factors that drives the growth of the global hair color spray market.
Over the past couple of years, there has been a rise in demand for natural cosmetic products. Taking this consumer perception into consideration, some of the key manufacturers have been strategizing on the inclusion of natural ingredients into their existing products. Manufacturers consider natural hair color spray products are expected to gain higher traction among the target customers who seek transparency in cosmetic products that they use in their day-to-day life. Apart from key product strategy, several companies consider expansion of operation in untapped regions is expected to play a major role in revenue generation. This will facilitate easy availability of products to its target customers and eventually generate sales.
The rise in rate of internet penetration around the major parts of the world makes way for manufacturers to initiate several key online marketing programs as online platforms are one of the easiest ways to create awareness about the specifications and features of the hair color spray products among the target customers.
Market Scenario:
- Organic segment would exhibit the highest CAGR of 7.60% during 2019-2026.
- Online segment would exhibit the highest CAGR of 7.70% during 2019-2026.
- Asia-Pacific would exhibit the highest CAGR of 7.90% during 2019-2026.
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According to the insights of the CXOs of leading companies, rise in concerns over maintaining the quality of hair among the customers, is one of the key factors that drives the growth of the global hair color spray market.
Over the past couple of years, there has been a rise in demand for natural cosmetic products. Taking this consumer perception into consideration, some of the key manufacturers have been strategizing on the inclusion of natural ingredients into their existing products. Manufacturers consider natural hair color spray products are expected to gain higher traction among the target customers who seek transparency in cosmetic products that they use in their day-to-day life. Apart from key product strategy, several companies consider expansion of operation in untapped regions is expected to play a major role in revenue generation. This will facilitate easy availability of products to its target customers and eventually generate sales.
The rise in rate of internet penetration around the major parts of the world makes way for manufacturers to initiate several key online marketing programs as online platforms are one of the easiest ways to create awareness about the specifications and features of the hair color spray products among the target customers.
The global hair care market was valued at $70 billion in 2017 and is expected to witness significant growth during the forecast period. The rise in concern over maintaining the quality of hair is one of the key factors responsible in driving the hair color spray market demand. As a result, customers have a holistic approach while considering hair care products in their daily routine. This boosts the demand for various hair care products such as shampoos, conditioners, and other such hair treatment products. Hair color spray is one such hair care product that has been enduring higher level of demand from its target customers. It is a hair styling product that imparts a desired color to one’s hair for a longer or shorter period of time.
Most of the customers, specifically millennials (18 to 35 years old), have been very conscious when it comes to one’s looks and appearance. They take corrective measures and steps on maintaining or improving their overall appearance. This set of customers believe that maintaining their outer beauty boosts their overall confidence. This has resulted in rise in demand for various cosmetic specialty products. Hair color spray that are known for providing variant colors to one’s hair that suits one’s desired personality, has been enduring similar level of demand and preference from these customers. Hence, rise in millennial populations eventually offers opportunity for the market growth during the hair color spray market forecast.
The synthetic segment to rule the roost by 2026-
Based on nature, the synthetic segment accounted for more than two-fifths of the total market share in 2018, and is expected to dominate throughout the forecast period. The organic segment, on the other hand, would grow at the fastest CAGR of 7.6% by the end of 2026. The natural segment is also studied in the market report.
The offline segment to maintain the lion’s share till 2026-
Based on distribution channel, the offline segment contributed to nearly three-fourths of the total market revenue in 2018, and is anticipated to retain its dominance from 2019 to 2026. At the same time, the online segment would cite the fastest CAGR of 7.7% through 2026.
Europe to dominate in terms of revenue-
Based on geography, Europe generated the highest share, garnering more than one-third of the global market. Simultaneously, Asia-Pacific would showcase the fastest CAGR of 7.9% by 2026. The other two regions analyzed in the report include North America and LAMEA.
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Frontrunners in the industry-
The key market players analyzed in the global hair color spray market report include Estee Lauder Company, Coty Inc., Unilever, Henkel, Amka Products (Pty) Ltd., Kenra Professional, L’Oréal, Punky International, Inc., John Paul Mitchell Systems, and Revlon, Inc. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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