Market Trends of Asia Pacific Hair Colorants Industry
This section covers the major market trends shaping the APAC Hair Colorants Market according to our research experts:
Growing Ageing Population Driving Sales of Hair Colorants
An aging population and the trend to look younger with the times have been some of the prime drivers that have led the hair colorant market to prosper in the region. Most elderly people live in places like Japan, China, and South Korea, in that order. According to the Population Reference Bureau, Japan will have 22 percent of its population over 65 in 2022. Also, people are getting older faster in South Korea, China, Hong Kong, Taiwan, and Singapore. According to the National Bureau of Statistics of China, in 2022, about 984.3 million people in China were estimated to be between 15 and 64 years old. The growing number of older people in Asia could benefit the hair colorant market. In 2021, 8.3% of Vietnam's population was at least 65 years old, according to the General Statistics Office of Vietnam. This was more than the previous year. On the other hand, the younger population, which prefers to keep updating their look, has further fueled the growth of the hair colorants market.
Permanent Colorants Holds a Prominent Share
Permanent hair colorants make up most of the market. This is mostly because people are living longer and want to dye their hair for longer periods. But because of fashion and changing ways of life, its popularity is also growing among young people. Japan and China have most of the market for permanent hair colorants, which are mostly used by older people. Most of the hair bleaching business has been driven by countries like Japan, where both American-Asian women and Japanese people like to bleach their hair. Emerging markets have lifestyles that change quickly and are becoming more urban, which increases the demand for products like hair colorants that give people stylish looks. According to the Ministry of Economy, Trade, and Industry, in 2022, the sales value of hair colorants in Japan will amount to USD 0.76 billion. Celebrities have a strong influence on millennials, who color their hair to keep up with fashion trends. Hair colorant products are gaining immense popularity among all consumer groups across the region.
