Portland, OR, May 05, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global hair serum market was pegged at $850.7 million in 2019, and is expected to hit $1.61 billion by 2026, registering a CAGR of 8.4% from 2019 to 2026. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Rapid increase in disposable income, rise in air pollution across the globe, and surge in fluctuations in hairstyling trends fuel the growth of the global hair serum market. In addition, rise in usage of professional haircare products in emerging countries has augmented the market growth. On the other hand,the high cost of such premium and professional products and involvement of hazardous chemicals to soften hair curbs the growth to some extent. However, increase in usage of professional haircare products in developed regions and growth in the adoption of organic ingredients in cosmetic products are projected 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 witnessed a major fall in sales. In addition, the halts of other supporting sectors such as salons and hair dressing centers, and decrease in the demand for the products have restrained the market growth. In addition, the stringent rules by the government in various regions and global lockdown haveurged the stakeholders in the global hair serum market to curtail down the 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 rule the roost by the end of 2026. Simultaneously, the hairstyling serum segment would grow at the fastest CAGR of 9.9% during the study period.
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Based on distribution channel, the offline segment contributed to more than four-fifths of the total market revenue in 2018, and is anticipated to lead the trail till 2026. At the same time, 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 nearly one-third of the global market. The Asia-Pacific region, on the other hand, would portray the fastest CAGR of 9.9% by 2026. The other two provinces discussed in the report include North America and LAMEA.
The key market players analyzed in the global hair serum market report includeL’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 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 enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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