MARKET RESEARCH GLOBAL
By IFAB MEDIA - NEWS BUREAU - May 5, 2023 | 26 4 minutes read
Globally, most people are experiencing hair loss leading to a rise in the application of chemical-based hair oils, shampoos, supplements, and even serums. Serum products work on the surface to deliver shine to the hair, control tangles, smoothen it and strengthen all hair types.
With the increasing awareness of lifestyle diseases and associated risks related to chemical-based hair care products, there has been an increasing preference for natural/green/herbal haircare products. The growing preference for herbal hair care solutions delivers growth opportunities for hair serum market players pioneers in developing natural ingredient-based hair serums.
Social medica increasing the sale of hair serum
The growing adoption of social media platforms attracts more young adults toward hair serum use. Industry players promote their hair serum solutions through various internet platforms that accelerate the sale of hair serum products.
The increasing use of social media platforms positively impacts consumers and sellers due to the stronger attraction and connection through internet applications.
The beauty and cosmetic industry has not only had an early adoption of social media platforms for marketing, but also social influencers used it. Beauty brand manufacturing companies were among the first to believe in social media strengths, making it a central part of their marketing.
E-commerce increasing the access to hair serum market
E-commerce increased the significant access to hair serum products availability. After the COVID-19 pandemic, a massive proportion of the population shifted towards the online shopping experience, becoming a central shopping platform.
Furthermore, the companies pioneer in hair serum development also sell their products through e-commerce giants and increase market penetration. L'Oreal, one of the leading brands, constantly focuses on e-commerce channels for its overall haircare product categories.
Increasing targeting population with hair issues
Hair serum products are not only used as beauty and hair styling products, but they also have several clinical benefits that accelerate the application of hair serum products in hair care treatments.
The increasing population with hair issues such as baldness/hair loss, hair dryness, and damaged scalp drives the high demand for hair serum products. Currently, the available hair serum products claim to offer several benefits, such as hair regrowth, reduction in hair fall, scalp care, and others that accelerate the significant sale of hair serum products worldwide.
Increasing expenditure on hair care
The rising disposable income in overall economic classes worldwide for personal and haircare propels the high demand for hair serum products. Millions are concerned about hair care, accelerating product demand in the hair serum market. By gender, women spend more on haircare solutions due to their high preference for hair appearance. On another side, men population has shown progressive growth in recent years with increasing expenditure on personal grooming.
The competitive rivalry in the global hair serum market is significantly high and associated with several factors. The competition for industry players varies demographically, geographically, and economically. Several internal and external macro and micro factors impact the industry's growth.
Key global hair serum market players include Henkel AG & Co. KGaA, Kao Corporation, L'oreal Group, and Unilever. Henkel Ag & Co. KGaA is active in the professional hair business. The company has Schwarzkopf professional, one of the leading suppliers of hair care solutions.