IMARC Group has recently released a new research study titled “Hair Serum Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the global market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.

How big is the hair serum market?

The global hair serum market size reached US$ 1,139 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,827 Million by 2028, exhibiting a growth rate (CAGR) of 8.3% during 2023-2028.

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FACTORS Affecting the Growth of the Hair Serum Industry:

• Increasing consumer awareness and demand for hair care products: The hair serum market is propelled by a surge in consumer awareness regarding hair health and the benefits of specialized hair care products. With a growing emphasis on personal grooming and appearance, individuals are seeking solutions to address specific hair concerns such as frizz, dryness, and damage. This heightened awareness has led to a significant uptick in the demand for hair serums, which are perceived as effective solutions for enhancing hair texture and overall health. Consumers are actively seeking products with advanced formulations, incorporating ingredients that promise nourishment and protection, driving the continuous expansion of the hair serum market.
  
  
• Advancements in formulations and ingredient innovation: The continuous evolution of formulations and ingredients is presenting lucrative opportunities for market expansion. Ongoing research and development (R&D) efforts within the cosmetics industry have resulted in the creation of advanced hair serum formulations. Ingredients such as argan oil, keratin, and vitamins are increasingly integrated into serums to offer targeted benefits like improved shine, strength, and protection against environmental stressors. The market is witnessing a trend towards natural and organic ingredients, reflecting a shift in consumer preferences towards sustainable and eco-friendly products. The constant innovation in formulations, combined with diverse ingredient options, contributes significantly to the market's growth.
  
  
• Rising fashion and beauty trends influencing consumer choices: The expanding influence of prevailing fashion and beauty trends is acting as another significant growth-inducing factor. As hairstyle trends evolve and change rapidly, consumers seek products that can help them achieve the desired looks. Hair serums, with their versatile applications, become essential in styling routines, providing the necessary flexibility, hold, and shine. The impact of social media, celebrity endorsements, and beauty influencers further amplifies these trends, driving consumer preferences towards specific hair care products, including serums. The dynamic nature of fashion and beauty trends ensuring a constant demand for innovative and effective hair serums that align with the latest style preferences is aiding in market expansion.

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Hair Serum Market Report Segmentation:

By Nature:

• Organic
• Conventional

Conventional accounts for the majority of market share due to established consumer trust and familiarity with traditional hair care products.

By Product Type:

• Hair Treatment Serum
• Hair Styling Serum

Hair Treatment Serum claimed the largest segment by product type, driven by a growing demand for specialized solutions addressing diverse hair concerns and promoting overall hair health.

By Distribution Channel:

• Supermarkets and Hypermarkets
• Specialty Stores
• Pharmacy and Drug Stores
• Online Stores
• Others

Supermarkets and hypermarkets represent the largest segment owing to their wide accessibility, extensive product offerings, and convenient shopping experience for consumers.

Regional Insights:

• North America
• Asia-Pacific
• Europe
• Latin America
• Middle East and Africa

Europe emerged as the biggest market by region, attributed to a strong emphasis on personal grooming, a well-established beauty culture, and a high demand for premium hair care products in the region.

Competitive Landscape:

The competitive landscape of the hair serum market has been studied in the report with the detailed profiles of the key players operating in the market.

• Amka Products (Pty) Ltd.
• Avon Products Inc.
• Giovanni Cosmetics Inc.
• Henkel AG & Co. KGaA
• HerStyler
• John Paul Mitchell Systems
• Kao Corporation
• L'Oréal S.A.
• Mirta de Perales
• The Procter & Gamble Company
• Unilever plc

Global Hair Serum Market Trends:

The burgeoning trend of customization in hair care routines, coupled with the rise of personalized beauty solutions is contributing to the market growth. In line with this, consumers are increasingly seeking tailor-made serums that cater to their specific hair types, textures, and unique needs, fostering a surging demand for specialized products in the market. Moreover, the escalating prevalence of environmental stressors, such as pollution and exposure to harsh weather conditions, is boosting the demand for hair serum for protection, thereby contributing to the market's expansion. Apart from this, the increasing integration of technology in hair care formulations, including the use of smart and sensor-based ingredients, is providing an impetus to the market growth.

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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