The Global Hair Serum Market size is expected to reach $1.4 billion by 2025, rising at a market growth of 7.86% CAGR during the forecast period. Hair serum is a type of liquid-based hair care that offers hair protection. It smoothens out the frizz and gives a stunning look to the hair. After shampooing and conditioning, hair serum is applied to towel-dried or wet hair. A few drops of hair serum are applied on hands for its application, and serum is added to hair from roots to tips while rubbing hands together. Hair serum is a product typically based on silicon that penetrates the hair and induces structural changes in hair texture.
The variation in hairstyle trends, a massive increase in disposable income, population increase, combined with rising global air pollution, are among the major factors boosting the hair serum growth market. It is also expected that increased use of professional haircare products in developed regions and increased adoption of organic ingredients in cosmetic products will create significant opportunities for growth for hair coloring products. Nonetheless, it is expected that the high cost of such premium and qualified products and the involvement of hazardous chemicals to soften hair would hamper global hair serum market growth.
Hair serum companies have been strategizing to expand their product offerings to meet the needs of customers. On the other hand, natural ingredients in these items will improve outcomes and minimize the risk of problems associated with scalps such as inflammation and itching. Organic hair serum products can produce vibrant results like enhanced hair shine, enhanced hair power, and reduced hair loss, expected to deliver significant value sales growth during hair serum market forecast.
Based on Nature, the market is segmented into Conventional and Organic. Based on Product Type, the market is segmented into Hair Treatment Serum and Hair Styling Serum. Based on Form, the market is segmented into Online and Offline. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The major strategies followed by the market participants are Product launches and Partnerships & Collaborations. Based on the Analysis presented in the Cardinal matrix, Unilever PLC and L’Oreal Group are some of the forerunners in the Hair Serum Market. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Henkel AG & Company, KGaA, HerStyler Oy, Kao Corporation, L’Oréal Group, The Procter and Gamble Company, Unilever PLC, Natura & Co. (Avon Products, Inc.), Giovanni Cosmetics, Inc., John Paul Mitchell Systems, and Revlon, Inc.
Recent strategies deployed in Hair Serum Market
Partnerships, Collaborations, and Agreements:
Nov-2019: John Paul Mitchell announced partnership with FitSkin AI beauty platform, for debuting a new technology for future professionals and stylists worldwide. The partnership is aimed at developing a hair analysis solution that has been set to launch in 2021.
Jul-2019: P&G’s My Black is Beautiful (MBIB) came into partnership with Sally Beauty in order to launch a new hair care line in US. The new hair care line includes fortifying conditioner, hydrating-sulphate free shampoo, intense recovery treatment products, and 2 tangle slayer conditioning creams for type 3 and type 4 hair treatment products. The company is aimed at developing products that suites diverse hair types.
Jun-2018: Hindustan Unilever, a subsidiary of Unilever partnered with Amazon India for developing and launching male grooming product range. The companies are aimed at creating hair care and male grooming range including hair wax, hair styling creams, gel, beard oil, beard balm, beard wash, and a 3-in-1 shampoo.
Product Launches and Product Expansions:
Mar-2019: P&G released Waterless hair care collection, a new hair care brand. The collection includes ultra-lightweight Foam Dry Shampoo, residue-free Dry Shampoo spray, range of Dry Conditioners, and range of alcohol-free Hair Refreshers. The alcohol-free hair refreshers provide instant odour-detox, anti-freez benefits, and static control.
Nov-2018: Henkel launched a new vegan and sustainably-sourced beauty brand, Nature Box. The Nature Box lined up with five collections, featuring oils extracted from fruits and nuts, including avocado, almond, coconut, apricot, and macadamia nut. It includes 11 products for body and 11 products for hair and these products are free from silicones, sulphates, artificial colorants, and parabens.
Acquisition and Mergers:
Nov-2019: Henkel signed an agreement to acquire Deva Parent Holdings, owner of DevaCurl brand from Ares Management Corporation, a private equity owner. The acquisition helps in expanding its range of products including free-from formulas and vegan products. DevaCurl is a fastest growing Premium Professional hair care brand in US.
Dec-2018: P&G acquired Walker & Company Brands, the company engaged in making beauty and health simple. Walker & Company has well performed brands including FORM Beauty, a premium hair care collection designed for meeting the needs of increasing number of women with textured hair and Bevel, a comprehensive grooming experience designed for the specific needs of men with coarse or curly hair.
Dec-2017: Kao announced the acquisition of Oribe Hair Care from Luxury Brands Partners, LLC. It joins Kao’s Salon Division portfolio of professional beauty brands. Oribe has been known for its skincare, hair care, makeup tools, body care and accessories.
Dec-2017: Unilever acquired Sundial Brands, a leading skincare and haircare company, which uses high-quality and authentic ingredients. The acquisition is aimed at accelerating the business growth while increasing the positive social impact.
Scope of the Study
By Product Type
• Hair Treatment Serum
• Hair Styling Serum
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Henkel AG & Company, KGaA
• HerStyler Oy
• Kao Corporation
• L’Oréal Group
• The Procter and Gamble Company
• Unilever PLC
• Natura & Co. (Avon Products, Inc.)
• Giovanni Cosmetics, Inc.
• John Paul Mitchell Systems
• Revlon, Inc.
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