The Hair Dye Market is expected to grow at a CAGR of 4.7% and reach US $35.22 by 2033.
This report is according to, www.factmr.com, who shares that the valuation of the global hair dye market is US $22.25 billion in 2023.
The market is forecasted to reach US 35.22 billion by the end of 2033, expanding at a CAGR of 4.7% from 2023 to 2033.
Hair dye accounts for a significant share of the global hair care industry due to its rising use by different ethnicities and age groups around the world. Hair dye is widely used by many geriatric people to color their graying hair. The younger generation also applies different hair colors due to their inclination toward new fashion trends.
Rising Inclination towards Vegan & Organic Ingredient-based Hair Dyes
The market is highly dynamic as players are involved in launching new products to generate leads. Various consumers are inclined toward vegan and organic ingredient-based hair dye. Numerous benefits of these ingredients in hair dyes are predicted to attract new customers to the target market. Compared to synthetic dyes, the demerits of organic dyes are nearly negligible.
Multimedia Advertising Platforms Gaining Consumers’ Attention
Prominent market players are adopting various advertising media platforms, including media campaigns, digital marketing, TV advertisements, etc., to influence consumers to purchase their products. Various players are involved in frequent advertisements on billboards, television and shopping malls, highlighting product benefits and specialties and relating them to the sentiments of consumers.
Safety Regulations on Chemicals Adversely Impacting Demand for Hair Dye Products
Hair dye manufacturers are encountering a lot of issues, which are related to the use of hair dye ingredients. Hair dye, which is based on coal tar, is banned in the European Union. This ban is due to the suspicious properties of coal tar, which can cause cancer. Moreover, hair dyes must be sold with precautionary statements indicating the presence of coal tar and guidelines suggesting conducting skin allergy tests before application.
Involvement of Start-ups in Production of Organic Hair Dye Attracting Health-conscious Consumers
Production of organic hair care products, organic color cosmetic products, etc. by start-ups is estimated to open up lucrative opportunities in the target market. A majority of people are inclined to use hair colors containing natural or organic ingredients, which is predicted to stimulate new entrants to invest in new developments significantly.
United States Market-Center of Fashion and Cosmetics Industry
The United States is an important center for the fashion and cosmetics sector, including hair dye and hair care products. The noteworthy consumption of hair color by men as well as women is estimated to contribute to the strong presence of hair dye manufacturers.
Rising Aging Population and Growing Use of Hair Color Products
The United Kingdom market is projected to advance at a CAGR of 5% and reach a valuation of US $5.04 billion by the end of 2033. The aging population, changing lifestyles, hair lightening trends and rising use of hair color products are some pivotal factors contributing to rising sales of hair dyes in the United Kingdom.
Easy Application Benefits of Temporary Hair Dye
Based on product, the global industry is segmented into permanent, semi-permanent, demi-permanent, bleach-highlights and temporary. Among these, demand for temporary hair dyes is estimated to expand at a CAGR of 4.8% and reach a market value of US $8.49 billion by the end of 2033. Noteworthy traction for fashion trends to change hair color on different occasions is predicted to boost the demand for temporary hair dyes.
