Market Trends of Hair Color Spray Industry
Focus on Grooming Habits and Self-Perceptions among Emerging Adults
- Consumers across the globe are becoming conscious of their wellness and appearance and taking great care of themselves. The grooming revolution is growing stronger with the self-awareness attitude amongst both genders. The dependence on mobile phones and enhanced internet penetration, with the rising influence of social media platforms induces consumers to make an informed and calculated choice. The consumers are, in turn, spending significantly on self-grooming and, in favor, opting for hair color options.
- For instance, according to the European Consumer Perception Study 2022 by Cosmetics Europe, around 72% of European consumers considered using cosmetics and personal care products, including hair colorants, to improve their quality of life, boost their self-esteem, and promote social interaction.
- In addition, consumers are taking great interest in clean hair products that do not irritate the skin or have no allergic reactions. Safety is another factor considered while selecting hair color sprays, along with ease of use. The at-home hair colorant sprays are inexpensive and can yield decent results.
- Furthermore, many people suffering from boxed hair dye disasters are leading them to opt for professional hair salon services and thus spend more on professional hair care services. Therefore, with the increase in beauty salons and consumer expenditure on hair salon services, the demand for hair care products, including hair color sprays, is expected to increase globally.
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Asia-Pacific is the Largest Market
- Marketing strategies aimed at young customers, especially Gen-Z, the most significant customer base, have increased the sales of hair colorant products across the region. For instance, L'Oreal group's annual report states that its 2022 advertising and promotion budget was EUR 12 billion (USD 13.56 billion). L'Oréal's success during the Double 11 celebration on Tmall in 2021 in China claimed more market share, further demonstrating the popularity of its brands among Chinese consumers.
- Due to the availability of customized solutions that meet the diversified demands of customers, the market for hair color sprays has experienced a tremendous expansion in recent years. According to the Ministry of Finance of the People's Republic of China, the total public expenditure on hygiene/personal care and health care in 2022 for China was estimated to be CNY 2.25 trillion (USD 337.5 billion).
- Furthermore, with rapid urbanization and improving lifestyle standards, the popularity of hair color sprays is accelerating in India. An increasing number of young consumers are more inclined towards keeping up with the latest fashion trends, such as coloring their hair using appealing shades and getting highlights done to make it look attractive and stylish. This further provides players with excellent opportunities to expand their product offerings to remain in the leading position in the market.
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