LONDON--(BUSINESS WIRE)--The global hair color spray market is expected to post a CAGR close to 5% during the period 2019-2023, according to the latest market research report by Technavio.
Currently, vendors are introducing technologically advanced products that may be priced slightly higher than regular hair sprays as these products provide benefits such as UV ray protection, scalp care, and moisturizing benefits. Also, leading vendors operating in the global hair color spray market are extensively spending on R&D to enhance product performance and expand the existing product portfolio. These research centers identify the needs of consumers and plan product and production decisions accordingly. Thus, all these technological advances will help in increasing the revenue for the global hair color spray market during the forecast period.
As per Technavio, the use of natural ingredients will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global hair color spray market 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Global hair color spray market: Use of natural ingredients
Natural and organic products are emerging as essential product segments in the market. Consumers regard these products as safer than regular products, which usually contain hydrofluorocarbons, formaldehyde, fragrances, and micro-particles of other ingredients. The increase in consumer awareness regarding the adverse effects of chemical products has played a pivotal role in driving the demand for organic products. Various vendors operating in the global hair color market are also taking proactive steps to enhance the production of natural products. Therefore, it is expected that steady growth in the global organic personal care ingredients market will also fuel the demand for natural hair color sprays, in turn driving the growth of the market during the forecast period.
“The growth of the cosmetic industry is one other major aspect that is expected to boost market growth largely. The paradigm shift in the consumption pattern of consumers from low-priced products to high-priced quality products further enhances the growth of the cosmetic market. Also, the lucrative growth in men’s grooming category has further widened the growth prospects of the market. This evolving consumer behavior has also led to the rise in demand for hair color spray and thus expected to fuel the demand for the overall global market,” says a senior analyst at Technavio.
Global hair color spray market: Segmentation analysis
This market research report segments the global hair color spray market by distribution channel (online and offline) and geographical regions (APAC, Europe, North America, South America, and MEA).
The APAC region led the market in 2018, followed by Europe, North America, South America, and MEA, respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market and register the highest incremental growth due to the growing export of cosmetic shipments, coupled with the domestic expansion of leading companies.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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