The research study by Technavio on the global novelty hair color market for 2017-2021 provides a detailed industry analysis based on the end-users (women, men and unisex), color (blue, purple, yellow and green), distribution channel (online and offline), and geography (the Americas, Europe, APAC and MEA).
The Americas is the leading region for the novelty hair color market, projected to generate both the highest revenue and the maximum incremental growth over the forecast period. The successful capitalization of the offline distribution channels in the region, combined with highly aware consumer base, are the key factors for the market dominance of the segment.
Technavio analysts highlight the following three factors that are contributing to the growth of the global novelty hair color market:
- Wide product portfolio and product innovation;
- Growing number of fashion-conscious consumers; and
- Changing lifestyles in developing countries.
“Manufacturers are introducing hair color products that have a stain-free application, with conditioning agents or oils, ammonia-free formulation, and innovative packaging,” said Poonam Saini, a lead analyst at Technavio for cosmetics and toiletry research.