According to market researcher Mintel, who showcased the global hair care trends at in-Cosmetics Asia in Thailand last week, we are now living in a ‘Grey Hair Society’ with ageing consumers increasingly looking to welcome hair products that make them look younger.
Reflecting its popularity, new research from the London-based analyst reveals that hair colourants is the only hair care sub-category to have increased its share of global product development, accounting for 15% of global new hair care product launches in 2012, up from 11% in 2008.
Globally, the most popular claims in hair colouring new product launches are those that help to brighten or illuminate the hair, with 72% of new hair colouring products launched between January and September 2013 carrying this claim.
Other popular claims were long lasting (62%), ease of use (54%) and botanical/herbal (44%).
Regional
In Europe, the UK remains the largest hair colourants market, with an estimated $550 million (€409 million) in sales in 2012.
Germany ($413 million), Russia ($430 million) and France ($370 million) are next in line but it is over the pond where slight concern creeps in as slower growth inevitably shows for such a developed market.
Despite being the largest hair colourant market in the world, the US has been slow moving with $2.1 billion sales in 2012, up from $1.7 billion in 2008.
Asia boost
The biggest growth from a global point-of-view comes from Asia-Pacific, which once again shines through, as it has done in other categories such as skin care and colour cosmetics.
Over the next five years India is expected to be the star performer in the colourants sector which in turn is going to boost the global hair care market posting the fastest growing innovation activity.
The developing market will post the best growth in the hair colourant market in Asia Pacific, more than doubling the market, valued at an estimated $382 million in 2012.
“There is scope for the hair colouring category to recruit new users with new formats and formulations that promise ease of application and enhanced performance,” says Vivienne Rudd, Director of Global Insight, Beauty & Personal Care at Mintel.
“In developing markets such as India, these developments will help to encourage consumers to trade up from traditional, low cost products to more sophisticated products that use familiar ingredients and claims and add a more cosmetic twist, promising luxuriant, shining colour and professional results at home.”
According to the market analysts, the largest market for hair colourants in Asia Pacific at present is Japan with $1 billion sales in 2012.
There is also a call to watch out for South Korea as, despite being a small market valued at $230 million in 2012, quick growth is expected there too; with Mintel also expecting Thailand to post an increase of 40% over the next five years to reach $144 million.
Elsewhere it is expected that the king of the shampoo and conditioner segment, China, will also capitalise on huge potential for natural hair colourants which target the ageing population with safe, natural formulations.