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% share of the hair serum market.
Over the past couple of decades, there has been rise in concerns over the hair density, hair fall as well as the quality of hair that needs to be maintained from time to time among the people. This has triggered burgeon demand for various hair care products such as shampoo, conditioners and other such. Hair serum is one such hair care product that has been gaining traction over the past couple of years. Hair serum is a silicone-based styling product that can make your hair shiny, smooth out any frizz, and protect it against environmental factors like humidity. There are two main types of hair serums i.e. hair treatment serum and hair styling serum. Among these hair treatment serum accounts to higher market share due to rise in concerns over hair fall and maintenance of hair quality among the target customers.
With the surge in demand for hair serum product coupled with the rise in preference for natural cosmetic products, some of the key manufacturers in the global hair serum market, have been strategizing on including natural ingredients into their products. For instance, 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, rise in demand for natural cosmetic products is an influential hair serum market trend.
Some of the hair serum products contain chemical ingredients that can be used for cleaning & conditioning. Presence of chemicals such as triclosan, phthalates, and sodium lauryl sulfate (SLS) are expected to cause scalp-related allergies and problems. Thus, rise in scalp-related problem due to application of chemicals in hair care products directly hampers the hair serum market growth.
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 classified into organic and conventional. By product type, the hair serum market is further sub-segmented into hair treatment serum and hair styling serum. By distribution channel the market is divided into online and offline. Based on region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, Spain, UK, 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, UAE, and rest of LAMEA).
According to Shankar Bhandalkar, Team Lead, Consumer Goods at Allied Market Research, “The Hair Serum companies have been strategizing on extending its product offerings that caters to target customers’ requirement. On the other hand, organic ingredients in these products can improve the results and minimize the risk of scalp related problems such as irritation and itching. Organic hair serum products can provide vibrant results such as enhanced hair shine, improved hair strength, and reduced hair fall, which is anticipated to provide significant value sale growth during the hair serum market forecast.”
Key Finding of The Hair Serum Market:
- In 2018, based on nature, the conventional segment accounted for around 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 higher share of the hair serum market.
- In 2018, based on region, Europe accounted for a prominent hair serum market share.
Key players profiled in the hair serum industry 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 S.L., Herstyler, Redken and other such.