Report : South & Central America Hair Color Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product Type (Permanent, Semi-Permanent, and Temporary), Type (Powder, Cream, and Others), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
At 5.2% CAGR, the South & Central America Hair Color Market is speculated to be worth US$ 3,512.52 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South & Central America Hair Color market was valued at US$ 2,585.34 million in 2022 and is expected to reach US$ 3,512.52 million by 2028, registering an annual growth rate of 5.2% from 2022 to 2028.High demand for natural and organic hair colors and new product launches are the critical factors attributed to the market expansion.
Natural cosmetics products are produced from natural ingredients, containing minimal levels of synthetic substances. There is an increasing consumer awareness of natural cosmetics which is creating a huge demand for natural products from the cosmetics sector. Consumers are avoiding different chemicals such as parabens, and phthalates, as they are concerned about associated health risks. Hence, natural ingredients are increasingly used in different cosmetics and personal care products. Consumers view natural products as safer for human health and the environment. This trend is driving the demand for different natural and organic cosmetic products including natural and organic hair colors. At present, organic hair coloring products contributes to the significant share of the hair care product market. Organic hair colors are a natural alternative and are free of harsh chemicals which can be harmful to hair and scalp. Many consumers are preferring organic and natural hair color as they are safer and healthier for their hair. Socially conscious people also use organic and natural hair color products because their ingredients don’t use chemicals that can harm the planet. All these factors are driving the increasing demand for organic and natural hair color products. With this, more and more cosmetics companies are taking efforts to replace synthetic ingredients with natural variants to fulfil the consumer demand and also to move towards sustainable raw materials. Market players operating in The South & Central America hair color market are responding to the rapidly evolving natural and organic hair color market. Owing to the increasing health concerns and awareness of side effects of using hair color products, players are introducing plant extracted color in their product portfolio. Therefore, the trend of a high demand for natural and organic hair colors will further fuel the South & Central America hair color market growth during the forecast period.
On the contrary, challenges faced in issues potential health risk due to the toxic chemicals in hair colors hurdles the growth of the South & Central America Hair Color Market.
Based on product type, the South & Central America Hair Color market is segmented into permanent, semi-permanent, and temporary. The permanent held 42.59% market share in 2022, amassing US$ 1,101.06 million. It is projected to garner US$ 1,515.74 million by 2028 to expand at 5.5% CAGR during 2022–2028.
Based on type, The South & Central America Hair Color market is segmented into powder, cream, and others. The cream held 62.33% market share in 2022, amassing US$ 1,611.36 million. It is projected to garner US$ 2,222.70 million by 2028 to expand at 5.5% CAGR during 2022–2028.
Based on distribution channel, The South & Central America Hair Color market is segmented into supermarkets & hypermarkets, specialty stores, online retail, and others. The supermarkets & hypermarkets held 42.22% market share in 2022, amassing US$ 1,091.44 million. It is projected to garner US$ 1,512.38 million by 2028 to expand at 5.6% CAGR during 2022–2028.
Based on country, The South & Central America Hair Color market has been categorized into the Argentina, Brazil, Rest of South and Central America. Our regional analysis states that Brazil captured 48.45% market share in 2022. It was assessed at US$ 1,252.60 million in 2022 and is likely to hit US$ 1,778.39 million by 2028, exhibiting a CAGR of 6.0% during the forecast period.
Key players dominating The South & Central America Hair Color market are Arctic Fox; Coty Inc; Henkel AG and Co KGaA; Koa Singapore Pte.Ltd; Revlon, Inc; Loreal S.A; Wella Operation US LLC; Unilever PLC; and PZ Cussons Beauty LLP, among others.
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