South America Hair Colorants Market is projected to grow at a CAGR of 4.8% during the forecast period (2020 - 2025).
- Young population prefers to use semi-permanent or temporary hair colorants which are ammonia-free and peroxide-free.
- Changing lifestyles, rising urbanization, and the growing youth population in emerging economies is driving the hair color market.
- However, consumer awareness about the harmful effects of chemicals in hair colorants that damage hair is affecting the market growth.
Key Market Trends
Brazil Dominates the Market
Brazilian women are very open to transformation in hair coloring to adopt new looks and styles. Hair colorants are present in more than 50% of the households in Brazil. Hair coloring comes first in hair care products among Brazilian women. About 98% of the Brazilian women use hair dye to color their hairs, with permanent hair colorants dominating sales. When it comes to hairstyling, almost all Brazilian women treat their hair chemically, and 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 players are Henkel AG & Co. KGaA, L'Oreal S.A, Kao Corporation, and Avon Products, Inc.
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