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. Also, India would utilize 460.7 thousand units (100 ml) of organic hair serum 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.
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.
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.
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. In terms of volume, hair treatment serum segment has 37,974.4 thousand units (100 ml) 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.
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.
Recent Strategies Deployed in the Market
- 2024-Feb: L'Oreal 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'Oreal's Elvive Hyaluron + Plump collection exclusively at Walmart stores. The move presents a promising chance for both L'Oreal 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'Oreal 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'Oreal 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'Oreal 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'Oreal 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'Oreal to expand its market reach in India.
List of Key Companies Profiled
- Henkel AG & Company, KGaA
- HerStyler
- Kao Corporation
- L'Oreal 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)
Global Hair Serum Market Report Segmentation
By Nature (Volume, Thousand Units (100 ml), USD Billion, 2019-2030)
By Sales Channel (Volume, Thousand Units (100 ml), USD Billion, 2019-2030)
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
Table of Contents
Chapter 1.Market Scope & Methodology
- 1.1Market Definition
- 1.2Objectives
- 1.3Market Scope
- 1.4Segmentation
- 1.4.1Global Hair Serum Market, by Nature
- 1.4.2Global Hair Serum Market, by Sales Channel
- 1.4.3Global Hair Serum Market, by Product Type
- 1.4.4Global Hair Serum Market, by Geography
- 1.5Methodology for the research
Chapter 2.Market at a Glance
Chapter 3.Market Overview
- 3.1Introduction
- 3.1.1Overview
- 3.1.1.1Market Composition and Scenario
- 3.2Key Factors Impacting the Market
- 3.2.1Market Drivers
- 3.2.2Market Restraints
- 3.2.3Market Opportunities
- 3.2.4Market Challenges
- 3.3Porter's Five Forces Analysis
Chapter 4.Recent Strategies Deployed in Hair Serum Market
Chapter 5.Global Hair Serum Market, By Nature
- 5.1Global Conventional Market, By Region
- 5.2Global Organic Market, By Region
Chapter 6.Global Hair Serum Market, By Sales Channel
- 6.1Global Offline Market, By Region
- 6.2Global Online Market, By Region
Chapter 7.Global Hair Serum Market, By Product Type
- 7.1Global Hair Treatment Serum Market, By Region
- 7.2Global Hair Styling Serum Market, By Region
Chapter 8.Global Hair Serum Market, By Region
- 8.1North America Hair Serum Market
- 8.1.1North America Hair Serum Market, By Nature
- 8.1.1.1North America Conventional Market, By Country
- 8.1.1.2North America Organic Market, By Country
- 8.1.2North America Hair Serum Market, By Sales Channel
- 8.1.2.1North America Offline Market, By Country
- 8.1.2.2North America Online Market, By Country
- 8.1.3North America Hair Serum Market, By Product Type
- 8.1.3.1North America Hair Treatment Serum Market, By Country
- 8.1.3.2North America Hair Styling Serum Market, By Country
- 8.1.4North America Hair Serum Market, By Country
- 8.1.4.1US Hair Serum Market
- 8.1.4.1.1US Hair Serum Market, By Nature
- 8.1.4.1.2US Hair Serum Market, By Sales Channel
- 8.1.4.1.3US Hair Serum Market, By Product Type
- 8.1.4.2Canada Hair Serum Market
- 8.1.4.2.1Canada Hair Serum Market, By Nature
- 8.1.4.2.2Canada Hair Serum Market, By Sales Channel
- 8.1.4.2.3Canada Hair Serum Market, By Product Type
- 8.1.4.3Mexico Hair Serum Market
- 8.1.4.3.1Mexico Hair Serum Market, By Nature
- 8.1.4.3.2Mexico Hair Serum Market, By Sales Channel
- 8.1.4.3.3Mexico Hair Serum Market, By Product Type
- 8.1.4.4Rest of North America Hair Serum Market
- 8.1.4.4.1Rest of North America Hair Serum Market, By Nature
- 8.1.4.4.2Rest of North America Hair Serum Market, By Sales Channel
- 8.1.4.4.3Rest of North America Hair Serum Market, By Product Type
- 8.2Europe Hair Serum Market
- 8.2.1Europe Hair Serum Market, By Nature
- 8.2.1.1Europe Conventional Market, By Country
- 8.2.1.2Europe Organic Market, By Country
- 8.2.2Europe Hair Serum Market, By Sales Channel
- 8.2.2.1Europe Offline Market, By Country
- 8.2.2.2Europe Online Market, By Country
- 8.2.3Europe Hair Serum Market, By Product Type
- 8.2.3.1Europe Hair Treatment Serum Market, By Country
- 8.2.3.2Europe Hair Styling Serum Market, By Country
- 8.2.4Europe Hair Serum Market, By Country
- 8.2.4.1Germany Hair Serum Market
- 8.2.4.1.1Germany Hair Serum Market, By Nature
- 8.2.4.1.2Germany Hair Serum Market, By Sales Channel
- 8.2.4.1.3Germany Hair Serum Market, By Product Type
- 8.2.4.2UK Hair Serum Market
- 8.2.4.2.1UK Hair Serum Market, By Nature
- 8.2.4.2.2UK Hair Serum Market, By Sales Channel
- 8.2.4.2.3UK Hair Serum Market, By Product Type
- 8.2.4.3France Hair Serum Market
- 8.2.4.3.1France Hair Serum Market, By Nature
- 8.2.4.3.2France Hair Serum Market, By Sales Channel
- 8.2.4.3.3France Hair Serum Market, By Product Type
- 8.2.4.4Russia Hair Serum Market
- 8.2.4.4.1Russia Hair Serum Market, By Nature
- 8.2.4.4.2Russia Hair Serum Market, By Sales Channel
- 8.2.4.4.3Russia Hair Serum Market, By Product Type
- 8.2.4.5Spain Hair Serum Market
- 8.2.4.5.1Spain Hair Serum Market, By Nature
- 8.2.4.5.2Spain Hair Serum Market, By Sales Channel
- 8.2.4.5.3Spain Hair Serum Market, By Product Type
- 8.2.4.6Italy Hair Serum Market
- 8.2.4.6.1Italy Hair Serum Market, By Nature
- 8.2.4.6.2Italy Hair Serum Market, By Sales Channel
- 8.2.4.6.3Italy Hair Serum Market, By Product Type
- 8.2.4.7Rest of Europe Hair Serum Market
- 8.2.4.7.1Rest of Europe Hair Serum Market, By Nature
- 8.2.4.7.2Rest of Europe Hair Serum Market, By Sales Channel
- 8.2.4.7.3Rest of Europe Hair Serum Market, By Product Type
- 8.3Asia Pacific Hair Serum Market
- 8.3.1Asia Pacific Hair Serum Market, By Nature
- 8.3.1.1Asia Pacific Conventional Market, By Country
- 8.3.1.2Asia Pacific Organic Market, By Country
- 8.3.2Asia Pacific Hair Serum Market, By Sales Channel
- 8.3.2.1Asia Pacific Offline Market, By Country
- 8.3.2.2Asia Pacific Online Market, By Country
- 8.3.3Asia Pacific Hair Serum Market, By Product Type
- 8.3.3.1Asia Pacific Hair Treatment Serum Market, By Country
- 8.3.3.2Asia Pacific Hair Styling Serum Market, By Country
- 8.3.4Asia Pacific Hair Serum Market, By Country
- 8.3.4.1China Hair Serum Market
- 8.3.4.1.1China Hair Serum Market, By Nature
- 8.3.4.1.2China Hair Serum Market, By Sales Channel
- 8.3.4.1.3China Hair Serum Market, By Product Type
- 8.3.4.2Japan Hair Serum Market
- 8.3.4.2.1Japan Hair Serum Market, By Nature
- 8.3.4.2.2Japan Hair Serum Market, By Sales Channel
- 8.3.4.2.3Japan Hair Serum Market, By Product Type
- 8.3.4.3India Hair Serum Market
- 8.3.4.3.1India Hair Serum Market, By Nature
- 8.3.4.3.2India Hair Serum Market, By Sales Channel
- 8.3.4.3.3India Hair Serum Market, By Product Type
- 8.3.4.4South Korea Hair Serum Market
- 8.3.4.4.1South Korea Hair Serum Market, By Nature
- 8.3.4.4.2South Korea Hair Serum Market, By Sales Channel
- 8.3.4.4.3South Korea Hair Serum Market, By Product Type
- 8.3.4.5Australia Hair Serum Market
- 8.3.4.5.1Australia Hair Serum Market, By Nature
- 8.3.4.5.2Australia Hair Serum Market, By Sales Channel
- 8.3.4.5.3Australia Hair Serum Market, By Product Type
- 8.3.4.6Malaysia Hair Serum Market
- 8.3.4.6.1Malaysia Hair Serum Market, By Nature
- 8.3.4.6.2Malaysia Hair Serum Market, By Sales Channel
- 8.3.4.6.3Malaysia Hair Serum Market, By Product Type
- 8.3.4.7Rest of Asia Pacific Hair Serum Market
- 8.3.4.7.1Rest of Asia Pacific Hair Serum Market, By Nature
- 8.3.4.7.2Rest of Asia Pacific Hair Serum Market, By Sales Channel
- 8.3.4.7.3Rest of Asia Pacific Hair Serum Market, By Product Type
- 8.4LAMEA Hair Serum Market
- 8.4.1LAMEA Hair Serum Market, By Nature
- 8.4.1.1LAMEA Conventional Market, By Country
- 8.4.1.2LAMEA Organic Market, By Country
- 8.4.2LAMEA Hair Serum Market, By Sales Channel
- 8.4.2.1LAMEA Offline Market, By Country
- 8.4.2.2LAMEA Online Market, By Country
- 8.4.3LAMEA Hair Serum Market, By Product Type
- 8.4.3.1LAMEA Hair Treatment Serum Market, By Country
- 8.4.3.2LAMEA Hair Styling Serum Market, By Country
- 8.4.4LAMEA Hair Serum Market, By Country
- 8.4.4.1Brazil Hair Serum Market
- 8.4.4.1.1Brazil Hair Serum Market, By Nature
- 8.4.4.1.2Brazil Hair Serum Market, By Sales Channel
- 8.4.4.1.3Brazil Hair Serum Market, By Product Type
- 8.4.4.2Argentina Hair Serum Market
- 8.4.4.2.1Argentina Hair Serum Market, By Nature
- 8.4.4.2.2Argentina Hair Serum Market, By Sales Channel
- 8.4.4.2.3Argentina Hair Serum Market, By Product Type
- 8.4.4.3UAE Hair Serum Market
- 8.4.4.3.1UAE Hair Serum Market, By Nature
- 8.4.4.3.2UAE Hair Serum Market, By Sales Channel
- 8.4.4.3.3UAE Hair Serum Market, By Product Type
- 8.4.4.4Saudi Arabia Hair Serum Market
- 8.4.4.4.1Saudi Arabia Hair Serum Market, By Nature
- 8.4.4.4.2Saudi Arabia Hair Serum Market, By Sales Channel
- 8.4.4.4.3Saudi Arabia Hair Serum Market, By Product Type
- 8.4.4.5South Africa Hair Serum Market
- 8.4.4.5.1South Africa Hair Serum Market, By Nature
- 8.4.4.5.2South Africa Hair Serum Market, By Sales Channel
- 8.4.4.5.3South Africa Hair Serum Market, By Product Type
- 8.4.4.6Nigeria Hair Serum Market
- 8.4.4.6.1Nigeria Hair Serum Market, By Nature
- 8.4.4.6.2Nigeria Hair Serum Market, By Sales Channel
- 8.4.4.6.3Nigeria Hair Serum Market, By Product Type
- 8.4.4.7Rest of LAMEA Hair Serum Market
- 8.4.4.7.1Rest of LAMEA Hair Serum Market, By Nature
- 8.4.4.7.2Rest of LAMEA Hair Serum Market, By Sales Channel
- 8.4.4.7.3Rest of LAMEA Hair Serum Market, By Product Type
Chapter 9.Company Profiles
- 9.1Henkel AG & Company, KGaA
- 9.1.1Company Overview
- 9.1.2Financial Analysis
- 9.1.3Segmental and Regional Analysis
- 9.1.4Research & Development Expense
- 9.1.5Recent strategies and developments:
- 9.1.5.1Partnerships, Collaborations, and Agreements:
- 9.1.6SWOT Analysis
- 9.2Kao Corporation
- 9.2.1Company Overview
- 9.2.2Financial Analysis
- 9.2.3Segmental and Regional Analysis
- 9.2.4Research & Development Expenses
- 9.2.5SWOT Analysis
- 9.3L'Oreal S.A.
- 9.3.1Company Overview
- 9.3.2Financial Analysis
- 9.3.3Segmental and Regional Analysis
- 9.3.4Recent strategies and developments:
- 9.3.4.1Partnerships, Collaborations, and Agreements:
- 9.3.4.2Acquisition and Mergers:
- 9.3.5SWOT Analysis
- 9.4The Procter and Gamble Company
- 9.4.1Company Overview
- 9.4.2Financial Analysis
- 9.4.3Segmental and Regional Analysis
- 9.4.4Research & Development Expense
- 9.4.5Recent strategies and developments:
- 9.4.5.1Acquisition and Mergers:
- 9.4.6SWOT Analysis
- 9.5Unilever PLC
- 9.5.1Company Overview
- 9.5.2Financial Analysis
- 9.5.3Segmental and Regional Analysis
- 9.5.4Research & Development Expense
- 9.5.5Recent strategies and developments:
- 9.5.5.1Partnerships, Collaborations, and Agreements:
- 9.5.6SWOT Analysis
- 9.6Natura & Co Holding S.A.
- 9.6.1Company Overview
- 9.6.2Financial Analysis
- 9.6.3Segmental and Regional Analysis
- 9.7Revlon, Inc. (MacAndrews & Forbes)
- 9.7.1Company Overview
- 9.7.2Financial Analysis
- 9.7.3Segmental Analysis
- 9.7.4SWOT Analysis
- 9.8HerStyler
- 9.8.1Company Overview
- 9.8.2SWOT Analysis
- 9.9Giovanni Cosmetics, Inc.
- 9.9.1Company Overview
- 9.9.2SWOT Analysis
- 9.10.John Paul Mitchell Systems
- 9.10.1Company Overview
- 9.10.2Recent strategies and developments:
- 9.10.2.1Product Launches and Product Expansions:
- 9.10.3SWOT Analysis
Chapter 10.Winning Imperatives of Hair Serum Market