Hair serum market expected to grow at a slow CAGR of 8.4%
Hair serum is one such hair care product that is gaining popularity among its target customers.
According to a new report published by Allied Market Research titled “Hair Serum Market by Nature, Product Type and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026”, the hair serum market size was valued at 850.7 million in 2018 and is expected to reach $1,612.9 million by 2026, registering a CAGR of 8.4% from 2019 to 2026. In 2017, Europe accounted for nearly 31.0% of the hair serum market.
Over the past two decades, there has been an increase in concerns about hair density, hair loss as well as the quality of hair that needs to be groomed from time to time among people. This has triggered an increasing demand for various hair care products such as shampoos, conditioners and others. Hair serum is one such hair care product that has grown in popularity over the past couple of years. Hair serum is a silicone-based styling product that can make your hair shiny, smooth frizz, and protect against environmental factors like humidity. There are two main types of hair serums, namely hair treatment serum and styling serum. Among these hair treatment serums, the market share is higher due to rising concerns about hair loss and maintenance of hair quality among target customers.
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With the rise in demand for hair serum products coupled with the increase in preference for natural cosmetics, some of the leading manufacturers in the global hair serum market have strategized to include natural ingredients in their products. For example, Beardo, one of the key brands in the global market, claims to have included argan oil in their hair serum products, which facilitates smoother, straighter and shinier hair. Thus, increasing demand for natural cosmetics is an influential trend in the hair serum market.
Some of the hair serum products contain chemical ingredients that can be used for cleansing and conditioning. The presence of chemicals such as triclosan, phthalates, and sodium lauryl sulfate (SLS) are expected to cause allergies and scalp-related issues. Thus, the rise in scalp-related issues due to the application of chemicals in hair care products is directly hampering the growth of the hair serum market.
The global hair serum market analysis is segmented on the basis of nature, end-user, distribution channel and region. Based on nature, the market is categorized into organic and conventional. By product type, the hair serum market is further sub-segmented into hair treatment serum and styling serum. By distribution channel, the market is split into online and offline. Based on the region, the market is analyzed in North America (United States, Canada, and Mexico), Europe (Germany, Spain, United Kingdom, Italy, France, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea and Rest of Asia-Pacific) and LAMEA (Brazil, South Africa, Saudi Arabia, United Arab Emirates and Rest of LAMEA).
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According to Shankar Bhandalkar, Team Leader, Consumer Goods at Allied Market Research, “Hair serum companies have been developing strategies to expand their product offerings that meet the needs of target customers. On the other hand, organic ingredients of these products can improve results and minimize the risk of scalp-related problems such as irritation and itching.Organic hair serum products can provide dazzling results such as improved hair shine, improvement in hair strength and reduction in hair fall, which is expected to deliver significant growth in value sales during the hair serum market forecast.”
Key Conclusion of the Hair Serum Market:
In 2018, based on nature, the conventional segment accounted for approximately higher hair serum market share, with a CAGR of 8.2% from 2019 to 2026.
In 2018, based on product type, the hair treatment serum segment accounted for a higher share of the hair serum market.
In 2018, by region, Europe accounted for a significant hair serum market share.
Key players profiled in the Hair Serum industry include:-
REVLON CONSUMER PRODUCTS CORPORATION
KAO USA INC
GIOVANNI COSMETICS, INC.
INDUSTRIAS ASSOCIADAS, SL
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The report includes Porter’s five forces analysis, SWOT analysis to understand the capability of buyers and suppliers, which enables business investors to craft wise and fruitful business decisions.
The study covers a detailed study of the latest market trends and market sizing coupled with a forecast of the Hair Serum Market during the forecast period.
The report offers an analysis of the market potential in various geographical regions along with revenue contribution.
The study includes a detailed analysis of major market players active in the market.
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This press release was published on openPR.