TAGS: Hair Care
According to Allied Market Research report 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 USD 850.7 million in 2018 and is expected to reach USD 1,612.9 million by 2026, registering a CAGR of 8.4 percent from 2019 to 2026. In 2017, Europe accounted for nearly 31 percent share of the hair serum market.
Hair Treatment Serum- Highest Market Share
Hair serum is a hair care product that has been gaining traction over the past couple of years; due to rise in concerns over the hair density and hair fall. Hair serum is silicone-based styling products that makes 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.
Demand for Natural Ingredients
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. The 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 and 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.
Key Findings
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In 2018, based on nature, the conventional segment accounted for around higher hair serum market share, growing at a CAGR of 8.2 percent from 2019 to 2026.
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In 2018, based on product type, the hair treatment serum segment accounted for higher share of the hair serum market.
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In 2018, based on region, Europe accounted for a prominent hair serum market share.
Source: Allied Market Research