The world is ageing. And as we increasingly become a “Grey Hair Society”, the base of ageing consumers looking to welcome hair products that make them look younger has never been bigger. Indeed, reflecting its popularity, new research from Mintel reveals hair colourants is the only hair care sub-category to have increased its share of global product development, accounting for 15% of global new haircare product launches in 2012, up from 11% in 2008.
Showcasing global hair care trends today at In Cosmetics Asia in Thailand, Mintel reveals India will be the star performer in the hair colourant market in Asia Pacific over the next five years. Mintel’s research shows that the market, valued at an estimated $382 million in 2012, is expected to grow a massive 110% between 2012 and 2016.
Today, the largest market for hair colourants in Asia Pacific is Japan with $1 billion sales in 2012. Despite being still a small market, South Korea – valued at $230 million in 2012 – is also forecast to grow rapidly, with a predicted 120% growth between 2012 and 2016 to reach $505 million. In addition, Thailand, with a hair colouring market valued at an estimated $104 million in 2012, is also set to see swift growth, with Mintel forecasting an increase of 40% over the same period to reach $144 million.
Vivienne Rudd, Director of Global Insight, Beauty & Personal Care at Mintel, said: “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. In developing markets such as India, these developments will help to encourage consumers …
