Hair Color Spray - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

Hair Color Spray - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Hair Color Spray Market size in terms of Equal-5.02 is expected to grow from USD 2.12 billion in 2024 to USD 2.71 billion by 2029, at a CAGR of 5.02% during the forecast period (2024-2029).

Key Highlights

• The increasing consumer consciousness of personal wellness and appearance and the increased expenditure on personal grooming, supported by the rise in salons, are expected to boost the demand for hair color sprays during the study period. Products and services for women have dominated the hair colorant market for a long time. However, the industry is witnessing a massive demand for hair color from men, owing to their growing focus on personal grooming.
• Additionally, the increased demand for hair color spray to conceal grey hair instantly is driven by an increase in the aged population coupled with busy lifestyles in Asian and Western countries. For instance, as per the Population Reference Bureau 2022 data, Japan holds the highest number of senior people globally, with 29% of the country’s total population. This led the key players to launch specific hair care products, including hair colorants, to capture the market demand.
• For instance, in January 2023, Coty Inc. (Clairol), the hair coloring pioneer, launched Root Touch Up Color + Volume 2-in-1 Spray. As per the company, the Root Touch-Up Color + Volume 2-in-1 Spray is a multipurpose temporary root touch-up spray that instantly covers grays, plus a boost of volume utilizing Colorfill Technology. The 2-in-1 spray is a solution that meets an unmet concern shared by 50% of women who use other root touch-ups: cover root regrowth and give the appearance of duller-looking hair with a damage-free formula. Furthermore, the popularity of funky and neon colors is rising, especially among Gen Z shoppers, due to their unique fashion taste.
• The market being consolidated over the past years has led manufacturers to retain generic consumers through organized retail channels, such as supermarkets/hypermarkets, drug stores, and pharmacies. However, online retailing is witnessing solid sales of hair color sprays, owing to its conveniences, such as time and cost savings, and a strong presence of brands in these stores.

Hair Color Spray Market Trends

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.

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.

Hair Color Spray Industry Overview

The global hair color spray market is consolidated, owing to the presence of various regional and domestic players. Some major players in the global market include Unilever PLC, L’Oréal, BBLUNT, and Henkel AG & Co. KGaA, among others. Emphasis is given to mergers, expansions, acquisitions, partnerships, and product development as key strategic approaches to boost brand presence among consumers.

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