Hair serum market is expected to reach $1,612.9 million by 2026,
Hair serum companies have strategized to expand their product offerings that meet the needs of target customers
Hair Serum companies have strategized to expand their product offerings that meet the needs of target customers. On the other hand, the organic ingredients in these products can improve results and minimize the risk of scalp-related issues such as irritation and itching. Organic hair serum products can deliver dazzling results such as improved hair shine, improved hair strength, and reduced hair fall, which is expected to deliver significant growth in value sales during the serum market forecast capillary.
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, conventional segment accounted for approximately higher hair serum market share, growing at 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.
Major Players in Hair Serum Industry are L’Oreal, Inc., John Paul Mitchell, Revlon Consumer Products Corporation, Kao USA Inc. (John Freida), Henkel Corporation, Unilever Inc., Giovanni Cosmetics, Inc., Industrias Asociadas SL, Herstyler, Redken and others.
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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior executives from leading companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.
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