Online sales have seen a boom during the ongoing pandemic. Majority of salons and professional stores were closed, because of which, it has been difficult for customers to continue their regular hair care regimes. The only option left was online purchase of these product for hair coloring at home. Thus, such a necessity has boosted the online sales channel share, which will continue to grow post pandemic as well.
Traditional powder hair dye will have higher market share initially due to economic feasibility, especially in a majority of low- and medium-income countries. But now, the role has been reversed, and manufacturers have started providing crème-based hair color at lower costs and in small sachets. With liquid hair dye gaining major focus from the demand side, it will give added impetus to overall market growth over the forecast period.
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Key Market Segments Covered in Report
- Permanent Hair Dye
- Semi-permanent Hair Dye
- Demi-permanent Hair Dye
- Bleach-highlights Hair Dye
- Temporary Hair Dye
By Dye Color
- Other Colors
- Individual Customers
- Professional Beauty Salons
By Sales Channel
- Modern Trade
- Departmental Stores
- Specialty Stores
- Online Stores
- Other Sales Channels
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
Key Takeaways from Market Study
- The hair dye market is anticipated to add 1.6X value by 2031.
- Liquid hair dye captures a major portion, equivalent to more than half of the global market share, and is set to create an absolute $ opportunity of around US$ 6.2 Bn over 2021-2031.
- Among the sales channels, online stores are expected to grow at a faster pace, owing to the ongoing pandemic and easy availability of the product.
- In 2021, Europe is set to dominate market revenue, but by 2031, it is anticipated to lose 118.7 BPS.
- The market in MEA and East Asia is expected to rise at around 6% CAGR through 2031.
- Due to the COVID-19 crisis, demand for hair dye was hit in 2020, which saw a decline in the 2nd and 3rd quarters of the year.
- Demand for permanent and semi-permanent hair dye to remain high.
- The market in the U.S. is expected to expand at a CAGR of around 4% through 2031, with China slated at more than 6%, and India at over 5%.
How are key players attracting more customers?
Key players in the market are using multiple advertising media such as TV advertisements, digital marketing, social media campaigns, etc., in order to gain customer attention towards purchasing their products.
Majority of key players have been involved in frequent advertisements in shopping malls, television, and billboards, highlighting the product’s speciality and benefits, and relating it to the sentimental side of customers.