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| Report Code: A02005 | Oct 2022 | Pages: 355 | ||
| Tables: 248 | Charts: 79 |
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The global cosmetics face serum market size was valued at $3.5 billion in 2021 and is projected to reach $5.6 billion by 2031, growing at a CAGR of 4.8% from 2022 to 2031.
Cosmetics face serum is a skin care product that is specially designed to deliver a high concentration of active compounds to treat different types of skin-related issues. Serums are clear, liquid, or gel-based skin care products that are thick than moisturizers. There are different types of cosmetics face serums offered by manufacturers in the market that perform different functions ranging from skin brightening, hydration, anti-aging, and many more. Cosmetics face serum is able to hydrate more effectively than even creams or other skin care products.
The cosmetics face serum market is segmented into Product Type, Price Point, Gender, Application and Distribution Channel. The functional properties of cosmetic face serums are significantly higher than most cosmetics used for humidifying the face. The higher moisturizing property of the face serum is attracting consumers to opt for it instead of any other cosmetic products such as creams and lotions. In response to the increase in demand for an effective solution, the cosmetics face serum manufacturer has taken considerable steps to address particular skincare issues such as acne, skin lightning, aging, and wrinkle. Cosmetics face serum has grown popular among the population, particularly among middle-aged people who wish to maintain their youthful appearance and opt for the usage of cosmetics face serum.
The global consumer goods industry is impacted profoundly  by the outbreak of the coronavirus. The outbreak was first witnessed in China resulting in a lockdown and the ceasing of production activities across the country. The demand for cosmetics face serum is expected to slightly taper across the world, owing to supply chain disruptions and the implementation of stringent restrictions to follow social distancing & consistent lockdowns across the globe.
Skin care products including serums, creams, and lotions are currently essential parts of peoples' modern lifestyles. In addition, growth in consciousness regarding beauty along with the intellect of individuals has become one of the major driving factors which are driving the growth of the cosmetics face serum industry. Presently, along with women, the rise in the use of serums by men in their daily routine fuel the growth of the market. Hence, changes in daily lifestyles of consumers have led to the growth of the skincare products market. Moreover, skin care products such as serums, creams, lotions, and other products are highly adopted by females as they desire to flaunt healthy, glowing skin, thereby augmenting which propels the cosmetics face serum market growth. Furthermore, demand for herbal and natural skin care serums is anticipated to increase at a substantial rate during the cosmetics face serum market forecast period.
Manufacturers are modifying their marketing and branding approaches for their goods in order to boost sales in various nations. Manufacturers have implemented cutting-edge tactics to boost sales of cosmetics face serums, including the introduction of new products with natural ingredients and inventive packaging. Consumers, particularly women, prefer to use skin care products that are portable and simple to use while traveling or attending social gatherings since they have become an essential part of life. A common tactic used by producers to draw in more consumers is the use of natural components while manufacturing cosmetic face serums that don't harm the skin. This aids in boosting the cosmetics face serum market demand and revenue of businesses engaged in this sector. Collectively, all these strategies adopted by manufacturers drive the growth of the market.
The demand for vegan and plant-based ingredient blends in these products has increased owing to more people choosing cruelty-free products as a result of their increased concern for animal welfare and the environment. An increase in the number of people who are becoming a part of corporate culture and giving importance to personal grooming fuels the growth of the market. The market is anticipated to be driven by the increase in spending on cosmetics products by consumers. Growing self-grooming consciousness and an increase in disposable income are anticipated to have a positive impact on market growth. An increase in awareness through advertisements, social media blogs, YouTube channels, and influencers is likely to augment the demand further.
The market in Asia-Pacific offers lucrative growth opportunities for operating players, owing to the presence of countries such as India, China, Australia, and New Zealand. The increase in adoption of the western lifestyle, surge in population and rise in disposable income of consumers in developing countries such as China, India, and others majorly drive the growth of the market. Moreover, an increase in awareness regarding skin care products and their associated benefits has further led to the growth of the market. Developing regions offer potential growth opportunities to market players for launching innovative skin care products. Moreover, countries in Latin America, such as Brazil, are anticipated to unfold attractive business opportunities, owing to an increase in awareness regarding skin care products and their benefits.
According to the market analysis, the global cosmetics face market serum market is segmented into product type, price point, gender, application, distribution channel, and region. By product type, the market is divided into eye serum, blemish treatment serum, acne treatment serum, face sunscreen serum, face moisturizer serum, face self-tanning serum, and others. According to price point, the market is divided into premium, medium, and economy. As per gender, the market is divided into men, women, unisex, and others. By application, the market is divided into households, salons, the entertainment industry, and others. Depending on the distribution channel, the market is divided into hypermarkets/supermarkets, specialty stores, online retail, and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, Belgium, UK, Italy, Spain, Netherlands, and the rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Indonesia, New Zealand, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, United Arab Emirates, and rest of LAMEA).
Based on product type, the face sunscreen serum segment held the major share in the market and it is likely to remain the same during the forecast period. This is attributed to the fact that face sunscreen serum has provided multiple benefits to the skin. The sunscreen serum provides an act to the skin which help to reduce skin damage and prevent skin diseases in men and women.
According to price point, the economy segment held the major share, accounting for around 41.6% of the total revenue, followed by the medium segment in 2021. This is attributed to the fact that economic cosmetics are intended specifically for people who cannot afford premium goods; consequently, the products are offered in the market at a reasonable price, and users are expected to obtain products that provide the same desired results as a premium product.
As per gender, the women segment led the market and accounted for 49.7% share of the global cosmetic face serum market in 2021, and is expected to maintain its dominance during the forecast period. This is attributed to the fact that increasing use of cosmetics face serums among women owing to several factors, such as deterioration of the weather, harmful side effects of counterfeit cosmetics, and the demand for maintaining the appropriate look to match with the existing trends of the market.
On the basis of application, the household segment was valued at $1,686.4 million in 2021 and is projected to reach $2,659.2 million by 2031, registering a CAGR of 4.6% from 2022 to 2031. This is attributed to the fact that consumers use cosmetics and face serums for their personal use, on a daily basis to protect their skin health, enhance well-being, and prevent skin-related issues. It is believed that in an individual's life, cosmetics are an integral part, which helps to boost confidence.
Depending on the distribution channel, the hypermarkets and supermarkets segment led the market and accounted for 36.4% share of the global cosmetic face serum market in 2021, and is expected to maintain its dominance during the forecast period. This is attributed to the fact that hypermarkets/supermarkets provide a wide variety of cosmetics products, including cosmetics face serums, creams, and others which are specifically grouped and placed on extensive racks. It serves a large geographic area and provides diverse choices of brands in a single location.
Region-wise, North America has the highest cosmetics face serum market share of around 31.4% in 2021. This is attributed to the fact that the rise in cases of skin-related issues is a growing concern in the U.S., which is estimated to augment the cosmetic face serum market in the region. According to the American Academy of Dermatology Association, acne is the most common skin condition in the United States and affects up to 50 million Americans annually. Approximately 85% of people between the ages of 12 and 24 experience at least minor acne and skin-related problems, which fuel the market growth for cosmetics face serum in the region.
The players in the market have adopted acquisition, business expansion, partnership, collaboration, and product launch as their key development strategies to increase profitability and improve their position in the market.
Some of the key players profiled in the cosmetics face serum market analysis include Procter & Gamble., L’ORÉAL, Beiersdorf AG, KOSÉ Corporation, Shiseido Company, EMK Products LLC, Estée Lauder Inc, Kao Corporation, PHILOSOPHY, INC, and CHANEL Ltd.
Cosmetics Face Serum Market Report Highlights
| Aspects | Details |
|---|---|
| Market Size By 2031 | USD 5.6 billion |
| Growth Rate | CAGR of 4.8% |
| Forecast period | 2021 - 2031 |
| Report Pages | 355 |
| By Product Type |
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| By Price Point |
|
| By Gender |
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| By Application |
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| By Distribution Channel |
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| By Region |
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| Key Market Players | BEIERSDORF AG, L’Oreal, Procter & Gamble Co., SHISEIDO COMPANY, Chanel, Kao Corporation, EMK PRODUCTS, LLC, KOSÉ Corporation, Philosophy Inc, Estee Lauder Companies Inc. |
According to the insights of CXOs of leading companies, the cosmetics face serum market holds a substantial scope for growth; however, its contribution to the world market would increase significantly within the next six years. Innovation is the key to the success of the cosmetics face serum market. Customers' increased demand for cosmetics goods has prompted producers to develop natural or herbal cosmetics products at reasonable rates and in environmentally friendly packaging.
CXOs also stated that the growing awareness of one's physical appearance among individuals and working-class professionals fuels the expansion of the cosmetics sector. The use of natural substances, such as coconut, sesame, and other natural ingredients in cosmetics, decreases the adverse effects, which drives the global expansion of the cosmetics industry. Men are increasingly adopting cosmetic face serum for maintaining skin health in their daily lives, and the use of cosmetics by males is predicted to expand in the future, supplementing the expansion of the global cosmetics face serum business.
A. The global cosmetics face serum market size was valued at $ 3470.2 million in 2021 and is projected to reach $ 5,577.7 million by 2031, registering a CAGR of 4.8% from 2022 to 2031.
A. The cosmetics face serum market is segmented based on product type, price point, gender, application, distribution channel, and region. As per product type, the market is segmented into eye serum, blemish treatment serum, acne treatment serum, face sunscreen serum, face moisturizer serum, face self-tanning serum, and others. According to price point, the market is classified into premium, medium, and economy. Depending on gender, the market is classified into men, women, and unisex. By application, the market is segmented into households, salons, the entertainment industry, and others. On the basis of distribution channel, the market is classified into hypermarkets and supermarkets, specialty stores, online retail, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA
A. North America
A. The major players analyzed for the cosmetics face serum market are Beiersdorf AG, Chanel Ltd., EMK Products, LLC, Kao Corporation, KOSÉ Corporation, L’Oréal S.A., Philosophy, Inc., Shiseido Company, The Estée Lauder Companies Inc., and The Procter & Gamble Company.
A. The global cosmetics face serum market report is available on request on the website of Allied Market Research.
A. The forecast period considered in the global cosmetics face serum market report is from 2022 to 2031. The report analyzes the market sizes from 2022 to 2031 along with the upcoming market trends and opportunities. The report also covers the key strategies adopted by the key players operating in the market.
A. The base year calculated in the cosmetics face serum Market report is 2021.
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