Hair Serum Market

Global Hair Serum Market Size, Share & Trends Analysis Report By Nature (Conventional, and Organic), By Sales Channel (Offline, and Online), By Product Type (Hair Treatment Serum, and Hair Styling Serum) By Regional Outlook and Forecast, 2023 - 2030

Report Id: KBV-21607 Publication Date: April-2024 Number of Pages: 291
2022
USD 1.2 Billion
2030
USD 2.1 Billion
CAGR
8.1%
Historical Data
2019 to 2021

Market Report Description

The Global Hair Serum Market size is expected to reach $2.1 billion by 2030, rising at a market growth of 8.1% CAGR during the forecast period. In the year 2022, the market attained a volume of 55,671.8 thousand units (100 ml), experiencing a growth of 7.9% (2019-2022).

Manufacturers can now incorporate a wider range of active ingredients such as vitamins, antioxidants, peptides, and botanical extracts with proven benefits for hair health and appearance. Consequently, the conventional segment would generate approximately 89% share of the market by 2030. These innovative formulations address various hair concerns such as frizz control, damage repair, hydration, and color protection, thereby expanding the appeal and utility of hair serums to a broader consumer base.

Hair Serum Market Size - Global Opportunities and Trends Analysis Report 2019-2030

Pollution, exposure to UV radiation, harsh weather conditions, and chemical treatments contribute to hair damage. As individuals seek to mitigate the effects of these stressors on their hair, the demand for protective and reparative hair care products like serums increases. Hence, the rising prevalence of hair-related Issues drives the market’s growth.

Additionally, Economic development in emerging markets has led to an increase in disposable income among middle-class and affluent consumers. As people’s purchasing power grows, they are willing to spend more on personal care and grooming products, including hair serums. Therefore, the growing global disposable income is propelling the market’s growth.

However, Hair serums, like other cosmetic products, are subject to stringent regulations imposed by government agencies and regulatory bodies. These regulations govern various aspects, such as ingredient safety, product labeling, advertising claims, manufacturing practices, and packaging standards. Hence, the regulatory compliance and safety concerns are hampering the market’s growth.

Driving and Restraining Factors
Hair Serum Market
  • Technological Advancements In Hair Care Technology
  • Rising Prevalence Of Hair-Related Issues
  • Expansion Of The Global Disposable Income
  • Strict Regulatory Compliance And Growing Safety Concerns
  • Constraint Of Perceived Lack Of Efficacy
  • Growing Demand For Natural And Organic Products
  • Increasing Influence Of Social Media And Celebrity Endorsements
  • Limited Consumer Awareness And Lack Of Education
  • Influence Of Changing Consumer Preferences

By Nature Analysis

Based on nature, the market is bifurcated into conventional and organic. In 2022, the conventional segment garnered a 90.78% revenue share in the market. Conventional hair serums have been on the market for a longer time compared to newer, specialized formulations. As a result, they have built a strong reputation and established brand recognition among consumers. Many consumers trust conventional hair serums due to their familiarity and perceived reliability, leading to higher demand for these products.

Hair Serum Market Share and Industry Analysis Report 2022

By Sales Channel Analysis

By sales channel, the market is divided into online and offline. The online segment procured a 35.35% revenue share in the market in 2022. Online shopping offers unparalleled convenience and accessibility to consumers, allowing them to browse, compare, and purchase hair serums from the comfort of their homes or on-the-go using their smartphones or computers. This convenience factor appeals to busy consumers. Also, the expansion of the e-commerce sector plays a vital role in the growth of the hair serum market. For example, as per the National Investment Promotion & facilitation Agency, the e-commerce sector in India is projected to grow at 18% annually through 2025 and is expected to touch $350 Bn in GMV by 2030.

By Product Type Analysis

On the basis of product type, the market is segmented into hair treatment serum and hair styling serum. The hair treatment serum segment recorded a 64.43% revenue share in the hair serum market in 2022. Advanced formulations incorporating innovative ingredients and technologies characterize the hair treatment serum segment. These serums may contain keratin, argan oil, vitamins, peptides, and botanical extracts, known for their nourishing, repairing, and protective properties. Consumers are drawn to these high-quality ingredients and formulations, which promise visible results and long-term benefits for their hair.

Free Valuable Insights: Global Hair Serum Market size to reach USD 2.1 Billion by 2030

By Regional Analysis

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region generated a 29.07% revenue share in the market. The Asia-Pacific region has diverse populations with varied hair types, textures, and concerns. Consumers in the region seek hair care products that cater to their specific hair needs, whether addressing dryness, damage or promoting hair growth. Hair serums offer customizable solutions that appeal to the diverse hair care needs of consumers in the Asia-Pacific region.

Hair Serum Market Report Coverage
Report Attribute Details
Market size value in 2022 USD 1.2 Billion
Market size forecast in 2030 USD 2.1 Billion
Base Year 2022
Historical Period 2019 to 2021
Forecast Period 2023 to 2030
Revenue Growth Rate CAGR of 8.1% from 2023 to 2030
Number of Pages 291
Number of Table 630
Quantitative Data Volume in Thousand Units (100 ml), Revenue in USD Billion, and CAGR from 2019 to 2030
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered Product Type, Nature, Sales Channel, Region
Country scope
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included Henkel AG & Company, KGaA, HerStyler, Kao Corporation, L'Oréal S.A. The Procter and Gamble Company, Unilever PLC, Natura & Co Holding S.A., Giovanni Cosmetics, Inc., John Paul Mitchell Systems, Revlon, Inc. (MacAndrews & Forbes)
Need a report that reflects how COVID-19 has impacted this market and its growth? Download Free Sample Now

Recent Strategies Deployed in the Market

  • 2024-Feb: L'Oréal S.A has formed a partnership with Walmart, Inc., a renowned American multinational retail giant known for its extensive network of hypermarkets, discount department stores, and grocery outlets across the United States. This collaboration aims to introduce L'Oréal's Elvive Hyaluron + Plump collection exclusively at Walmart stores. The move presents a promising chance for both L'Oréal Paris Elvive and Walmart to attract new consumers, thereby offering an additional avenue for customer engagement and growth.
  • 2023-Dec: Unilever PLC has entered into a agreement with K18, Inc., a pioneering hair care brand rooted in biotechnology. This agreement signifies Unilever's intention to acquire K18, aligning with its strategy to enhance its portfolio in high-growth sectors. The acquisition of K18 adds value to Unilever's expanding collection of premium, culturally significant consumer brands.
  • 2023-Aug: L'Oréal S.A has completed the acquisition of Aesop, an esteemed Australian luxury cosmetic brand renowned for its skincare, haircare, and fragrance lines. With this acquisition, L'Oréal will integrate Aesop into its Luxe division, fortifying its presence in the luxury market segment.
  • 2022-Feb: Henkel AG & Company, KGaA has entered into an agreement with Shiseido Company, Limited, a multinational cosmetic company based in Japan. Under this agreement, Henkel intends to acquire Shiseido's Asia-Pacific Hair Professional business, encompassing leading professional brands like Sublimic and Primience. This strategic acquisition aligns seamlessly with Henkel's existing portfolio and aims to bolster its presence in the Asia-Pacific market.
  • 2022-Apr: L'Oréal S.A has announced a partnership with Myntra Designs Private Limited, India's leading e-commerce platform for fashion and lifestyle items. Under this partnership, L'Oréal will introduce its professional products division on Myntra, enhancing Myntra's status as the go-to destination for shopping beauty and personal care products. Additionally, this partnership will enable L'Oréal to expand its market reach in India.

List of Key Companies Profiled

  • Henkel AG & Company, KGaA
  • HerStyler
  • Kao Corporation
  • L'Oréal S.A.
  • The Procter and Gamble Company
  • Unilever PLC
  • Natura & Co Holding S.A.
  • Giovanni Cosmetics, Inc.
  • John Paul Mitchell Systems
  • Revlon, Inc. (MacAndrews & Forbes)

Hair Serum Market Report Segmentation

By Nature (Volume, Thousand Units (100 ml), USD Billion, 2019-2030)

  • Conventional
  • Organic

By Sales Channel (Volume, Thousand Units (100 ml), USD Billion, 2019-2030)

  • Offline
  • Online

By Product Type (Volume, Thousand Units (100 ml), USD Billion, 2019-2030)

  • Hair Treatment Serum
  • Hair Styling Serum

By Geography (Volume, Thousand Units (100 ml), USD Billion, 2019-2030)

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Frequently Asked Questions About This Report

The Market size is projected to reach USD $2.1 billion by 2030.

Rising Prevalence Of Hair-Related Issues are driving the Market in coming years, however, Strict Regulatory Compliance And Growing Safety Concerns restraints the growth of the Market.

Henkel AG & Company, KGaA, HerStyler, Kao Corporation, L'Oréal S.A. The Procter and Gamble Company, Unilever PLC, Natura & Co Holding S.A., Giovanni Cosmetics, Inc., John Paul Mitchell Systems, Revlon, Inc. (MacAndrews & Forbes)

In the year 2022, the market attained a volume of 55,671.8 thousand units (100 ml), experiencing a growth of 7.9% (2019-2022).

The Offline segment is leading the Market, By Sales Channel in 2022 thereby, achieving a market value of $1.3 Billion by 2030.

The Europe region dominated the Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $670.9 Million by 2030.

HAVE A QUESTION?

HAVE A QUESTION?

Call: +1(646) 600-5072

SPECIAL PRICING & DISCOUNTS


  • Buy Sections of This Report
  • Buy Country Level Reports
  • Request for Historical Data
  • Discounts Available for Start-Ups & Universities

Unique Offerings Unique Offerings


  • Exhaustive coverage
  • The highest number of Market tables and figures
  • Subscription-based model available
  • Guaranteed best price
  • Support with 10% customization free after sale

Trusted by over
5000+ clients

Our team of dedicated experts can provide you with attractive expansion opportunities for your business.

Client Logo