Portland, OR, May 05, 2020 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the hair serum market was pegged at $850.7 million in 2019 and is projected to reach $1.61 billion by 2026, registering a CAGR of 8.4% from 2019 to 2026. The report provides a detailed analysis of the major pockets of investment, winning strategies, drivers and opportunities, market size and estimates, competitive landscape and changing market trends.
Rapidly increasing disposable income, increasing air pollution across the globe, and soaring fluctuations in hairstyling trends are fueling the growth of the global hair serum market. Additionally, the increase in the use of professional hair care products in emerging countries has boosted the growth of the market. On the other hand, the high cost of these high-end and professional products and the use of dangerous chemicals to soften the hair hinder the growth to some extent. However, the increase in the use of professional hair care products in developed regions and the growth in the adoption of organic ingredients in cosmetic products are expected to pave the way for an array of opportunities in the near future.
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Amid the Covid-19 outbreak, the global hair serum market has seen a significant drop in sales. Additionally, shutdowns of other supporting sectors such as salons and hair centers, and lower demand for the products have hampered the growth of the market. Additionally, strict government rules in various regions and global lockdown have urged global hair serum market stakeholders to curtail production.
Based on product type, the hair treatment serum segment accounted for more than four-fifths of the total market share in 2018 and is expected to reign the roost by the end of 2026. Simultaneously, the hair styling serum segment would grow at the fastest CAGR. 9.9% over the study period.
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Based on the distribution channel, the offline segment contributed more than four-fifths of the total market revenue in 2018 and is expected to lead the way through 2026. Meanwhile, the online segment would cite the Fastest CAGR of 10.5% throughout the forecast period.
Based on geography, Europe held the highest share in 2018, generating almost a third of the global market. The Asia-Pacific region, on the other hand, would exhibit the fastest CAGR of 9.9% by 2026. The other two provinces discussed in the report include North America and LAMEA.
Key market players analyzed in the Global Hair Serum Market report include 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 managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.