The European hair colorants market is expected to grow with a CAGR of 4.1% during the forecast period (2020 - 2025).
- The market is driven by the increasing number of fashionable trends and changing lifestyles in emerging economies, along with rising urbanization are boosting the adoption rate of hair colors across the region. Moreover, the rising penetration rate of professional salon and spa services is expected to fuel the growth of the hair color market in Europe.
- Furthermore, extensive research and development in the field to meet the customer's needs to have a chemical-free coloring product have further fueled market growth. Thus, new product launches focused on herbal and natural ingredients, which also promotes hair growth. Also, other players such as Kao Corporation, in 2018 launched a new hair coloring product - @Pure Pigments, which uses the "HD3 Dye Technology", which is based on new nonreactive hair dye developed through joint research with FUJIFILM Corporation and the Dresden University of Technology in Germany.
- However, rising concerns of hair health and growing risk of cancer due to chemicals present in hair colorants are limiting the growth of the hair color market across the region. In 2017, as per the study by the National Cancer Institute, around 35% of women above 18 years use some kind of hair color products. These hair dye products constitute over 5,000 different chemicals out of which few of them are carcinogenic.
Key Market Trends
Rising Demand for Permanent Hair Colorants in the Region
Permanent hair colorants account for the most significant share in the hair colorant market. This market is majorly driven by an aging population that prefers to use a dye that has a long-lasting effect. These permanent hair colorants are mostly achieved through the use of oxidation dyes. However, for a number of years, there have been increasing concerns regarding the safety of oxidative hair dyes, or “permanent hair dyes”. Therefore, companies are launching hair colorants constituting ingredients that are permitted, such as PPD (paraphenylenediamine or p-phenylenediamine), thereby eventually resulting in the purity of the hair colorants.
United kingdom and Russia to Drive the Regional Market
Europe's hair color market is anticipated to grow significantly in recent years. United kingdom and Russia are projected to dominate the hair color market in the region, owing to the availability of a wide range of hair colorants and the rising popularity of hair colors among youngsters. In Europe, nearly 70% of women and 10% of men use some form of hair dyes. Furthermore, rising spending power on grooming products has further boosted the growth of the market in the region.
The European hair colorants market is competitive and fragmented in nature having a large number of domestic and multinational players competing for market share. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. For instance, in December 2017, L’Oréal Paris launched its first plant-based hair color as customers are becoming increasingly wary of chemical ingredients present in the hair coloring products. Key players dominating the regional market include Henkel AG & Co. KG aA, Revlon, L’Oréal, Coty Inc., Kao Corporation, and Garnier LLC, among others.
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