Demand for hair colourants in India set to boost global market
Showcasing global hair care trends at in-Cosmetics Asia in Thailand, market researcher Mintel reveals India 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.
According to Mintel, botanical and herbal is already one of the leading claims in China’s colourant launches, accounting for 76% of total launches in the category in 2013 (to September 2013) up from 71% in 2012.
“Natural hair colourants hold great promise in China, with future products evolving from just one or two natural ingredients to take in an array of botanical oils and plant extracts,” explains Rudd.
“An emphasis on safety will not only ensure product take-up, it will also encourage frequent reapplications. Henna, for example, offers an attractive marketing story, mimicking the success of rhodiola in the skincare category, which has become synonymous with a cure for skin problems for some Chinese consumers.”