Vancouver, Sept. 18, 2023 (GLOBE NEWSWIRE) -- The global hair serum market size is expected to reach USD 2309.0 Million in 2030 and register a steady revenue CAGR of 8.4% over the forecast period, according to a latest analysis by Emergen Research. Steady revenue growth of the hair serum market can be attributed to positive consumer perception of hair care products owing to their various benefits. Applying a hair serum has a variety of advantages. Additionally, there are various types of hair serums on the market. However, deciding which one is ideal for one’s hair can be challenging.
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The market offers a variety of goods from various brands. Some benefits of using hair serums include that it nourishes the hair and provides shine, an individual’s bad hair day could become good owing to it, and it shields the hair from the sun's damaging rays, dust, and pollution. Hair serum also aids in preventing breaking and brittleness in hair; one’s hair looks great after using a serum to get rid of the tangles, it aids in containing the harm, and by using hair serum, one can experiment with various hairstyles.
A recent trend in the market is the use of hair serums to help with hair loss. For instance, a hair serum called HairX Advanced TimeResist offers intense hydration, nourishing, and vitality restoration. So far, dull and dry hair has acquired delicacy, vitality, softness, and a lot of shine. It is all down to the silk protein concentration, which provides hair with a thin, hydrating layer. HairX Advanced hair serum can quickly revive even the most neglected hair owing to this. After consistent treatment for less than two weeks, the first effects can be seen.
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Scope of Research
| Report Details | Outcome |
| Market size in 2021 | USD 1,108.1 Million |
| CAGR (2022-2030) | 8.4% |
| Revenue forecast to 2030 | USD 2309.0 Million |
| Base year for estimation | 2021 |
| Historical data | 2021-2030 |
| Forecast period | 2022-2030 |
| Quantitative units | Revenue in USD Million and CAGR in % from 2022 to 2030 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product type, nature, distribution channel, and region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, U.K., France, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, U.A.E., Israel, and Rest of MEA |
| Key companies profiled | L’Oreal Groupe, John Paul Mitchell Systems, Revlon Consumer Products Corporation, Kao Corporation, Henkel Corporation, Unilever plc, Giovanni Eco Chic Beauty, Industrias Asociadas, HerStyler, and Redken |
| Customization scope | 10 hours of free customization and expert consultation |
Major Companies and Competitive Landscape
The global hair serum market is fairly fragmented, with many large and medium-sized companies accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective hair serum products. Some major players included in the global hair serum market report are:
- L’Oreal Groupe
- John Paul Mitchell Systems
- Revlon Consumer Products Corporation
- Kao Corporation
- Henkel Corporation
- Unilever plc
- Giovanni Eco Chic Beauty
- Industrias Asociadas
- HerStyler
- Redken
Strategic Development
- On 29 June 2022, in an exclusive online and in-store partnership with Boots, actress and businesswoman Tracee Ellis Ross launched her award-winning haircare range, Pattern Beauty, in the U.K. With ingredients such as aloe vera, jojoba oil, and shea butter, Pattern Beauty's shampoos, conditioners, hair serums, curl gels, hydration mists, and styling creams fulfill the requirements of the population with curly, oily, and tight-textured hair.
- On 20 October 2021, Nutrafol, which is the pioneer of the hair wellness category, announced the launch of its newest innovation: Growth Activator, a hair serum made with plant-derived exosomes from Ashwagandha seeds. The new, revolutionary hair serum is the first scalp-care product that leverages the science of plant exosome technology to boost cellular renewal on the scalp for thicker-looking hair.
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Some Key Highlights From the Report
- The conventional segment is expected to account for a large revenue share over the forecast period. This is attributed to its easy availability and affordable prices. Consumers prefer conventional items over natural ones as they are more readily available and less expensive than their natural counterparts. Serums made of natural ingredients are not always enough. For severely damaged hair, chemical-based hair care treatments can be carefully formulated to target and control hair problems that can result from regular dyeing or bleaching. Many individuals opt to use products that are made entirely of natural materials and free of harmful chemicals. The problematic part is that a chemical's biological impact is the same from a scientific standpoint whether it is produced in a lab or taken from natural sources in a lab.
- The hair treatment serum segment is expected to account for large revenue share in the global market over the forecast period owing to rise in concern over hair fall and desire for good quality hair among the target customers. Damaged hair can be treated with the correct hair serum. The ability of hair serum to shield hair strands from environmental harm is one of the product's key advantages. Numerous factors, including heat damage, chemical processing damage, environmental damage and stress, and mechanical damage, can be repaired with hair serums. In order to lessen their impact and maintain healthy hair, several hair serums work to form a protective layer between the hair strand and the damage-inducing agent. These can be used before using a heat styling instrument and are referred to as heat protectants.
- The offline segment is expected to account for large revenue share in the global market over the forecast period owing to offline stores facilitating a variety of options of hair care products promoting both branded and private labelled products. Retail establishments give customers the luxury of choice by allowing them to select from a variety of brands. To receive pertinent information about the various products, customers can also chat with the owners and employees of retail establishments. Retail store owners and employees can also help customers make the best decision, which can be more convenient for them if they prefer an efficient purchasing procedure to browsing online. Retail establishments enhance customer happiness and facilitate smarter purchasing decisions by enabling a comprehensive shift in the consumer's shopping journey.
- The market in North America is expected to account for largest revenue share during the forecast period, which is primarily attributed to the region's increasing incidences of hair loss and hair damage among the population. For instance, the National Alopecia Areata Foundation estimates that 147 million people globally and 6.8 million Americans currently have or can develop alopecia areata. Alopecia is becoming more common; hence several businesses are producing various products. In order to compound Triple Hair's hair growth products in the U.S., for instance, Triple Hair Group Inc. stated that it has engaged into a strategic licensing partnership with Pharmacy Solutions. The creation of innovative alopecia therapies is the area of expertise of Triple Hair Group Inc. The size of the global alopecia market is expected to increase from USD 7.8 billion in 2021 to USD 14.2 billion in 2028.
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Emergen Research has segmented the global hair serum market on the basis of product type, nature, distribution channel, and region:
- Product Type Outlook (Revenue, USD Billion; 2019-2030)
-
- Hair Treatment Serum
- Hair Styling Serum
- Nature Outlook (Revenue, USD Billion; 2019-2030)
-
- Organic
- Conventional
- Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
-
- Online
- Offline
- Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Israel
- Rest of MEA
- North America
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