The Indian Hair Color Market was valued at $477 million in FY 2020 and is forecast to grow at a CAGR of over 17% until FY 2026, due to various growth factors such as increasing urbanization and evolving lifestyles, growing hair-highlight trend, the rising market for salon services and innovative tools used in salons to strengthen the ease of use of hair care products, which in turn would boost the sales value of hair colors and other related products.

Another major factor is the increase in consumer hair related issues, which has led to several product innovations that accommodate the prevalent and changing tastes and preferences of consumers, thus facilitating the demand for hair care products. Also, fashion trends around the country are changing, which in turn, is encouraging hair color producers to introduce innovative new products to meet consumer demand.