The Middle East and Africa Hair Colorants Market is projected to grow at a CAGR of 5.2% during the forecast period (2020 - 2025).
- The growing use of hair color by the aging population to cover their grey hair is the primary driver for the growth of the hair color market. An increasing number of the millennial population is adopting trendy fashion which includes coloring the hair in appealing colors.
- Changing lifestyles, rising urbanization, and the growing youth population in emerging economies is driving the hair color market.
- However, stringent cosmetics regulations are likely to have a negative impact on the manufacturing of hair colorants in the near future.
Key Market Trends
Increasing Demand for Permanent Colorants
Increased incidence of grey hair among the young working population due to stress and improper diet is primarily driving the market as the youngsters are very conscious. Permanent hair colorants offer long-lasting hair color, which is why the demand for the category has inflated. Social media penetration and advertisement have further fueled the beauty and personal care market including hair colorants in the region. Rapidly changing lifestyles, owing to urbanization in the emerging market, demands products such as hair colorant which provide stylish looks.
Supermarket/Hypermarket Drives the Sales of Hair Colorants
Owing to a huge retail space catering to a wide variety of preferences, the supermarkets/ hypermarkets are dominant channels for the sales of hair colorants. The factors, such as business expansion, rising number of hypermarkets and supermarkets add to the sales of these retail formats and significantly contribute to the growth of their overall market. The availability of a variety of brands has been a key factor for the increasing consumer preferences, as customers want to make fewer trips to the store and receive more value for their money, which, in turn, has also increase the sales. Thus, customers find it beneficial to shop from such retail stores, as they offer attractive discount offers and schemes.
The market of hair colorants is competitive as the major players are trying to cater to the demands of the consumers in terms of color options, offering safer products for use at the same time. The key palyers are Henkel AG & Co. KGaA, L'Oreal S.A, Kao Corporation and Avon Products, Inc.
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