Global sales of hair color sprays are estimated to reach US$ 18.2 Bn by the end of 2031, increasing at a CAGR of 7.7%, mostly driven by high demand for natural/ organic products that hold more than 45% market share at present.
Market players have been compelled to convert to innovative solutions as awareness of modern technology and equipment has grown, as consumers, specifically millennials, prefer innovative alternatives. This probably applies not only for the product itself but also for the packaging.
- For example, DE LORENZO, an Australia-based hair care products company, uses the largest percentage of recycled material in its cosmetic product packaging. A logo identifying the recycled component is shown on the packaging.
To increase their consumer base, manufacturers are expanding their geographic footprint by constructing physical storefronts and e-Commerce websites in developing regions, as well as offering new types of products.
- For instance, in 2018, the Strobe Contour Kit brand came up with a new line of hair color sprays that feature a color format combination of dark, medium, and light shades at the same time. Moreover, products such as plastic and metal bottles, which incorporate this technology, also offer antimicrobial protection.
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Key Takeaways from Market Study
- The market is highly fragmented, giving clients only limited negotiating power. Collaborations with clinics, spas, and professional hair care enthusiasts are allowing key players to mark their presence in the market.
- Adoption rate of hair color sprays is likely to grow with manufacturers innovating products and providing organic and natural ingredient-based hair color sprays.
- Hair color sprays packed in metal bottle are projected to hold significant market share expanding at 7.9% CAGR through 2031.
- Women have the highest contribution toward sales of hair color sprays, with an expected market share of around 42.7% by 2031.
- Sales of hair color sprays across China are expected to increase at a CAGR of around 6.2% from 2021 to 2031.
“Leading companies are aggressively marketing a wide range of hair color sprays with a vast portfolio in various colors, fragrances, ingredient assurance, and so on,” says an analyst at Persistence Market Research.
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Key Market Players
The report underlines ground-breaking insights into the competitive scenario of the hair color spray market, along with the highlights of differential strategies used by manufacturers.
Some of the key players identified across the value chain include L’Oréal S.A., Kao Corporation, Henkel AG& Co., Estee Lauder, Coty Inc., Bumble and Bumble Products LLC, COLORSMASH, IGK Hair, John Paul Mitchell Systems, Natura Cosmeticos, Kryolan , Sally Beauty Supply LLC, Guangzhou Hstar Biological Technology Co., Ltd., and Graftobian Make-up Company, amongst others.
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