Hair Serum Market Size (2024 - 2029)

Hair Serum Market Analysis

The hair serum market is projected to register a CAGR of 7.1% during the forecast period, 2022-2027.

The rising application of hair serum in hair loss treatment and hair damage repairing is driving the market as consumers are becoming conscious about hair health and prefer advanced hair care products such as serums. Further, modern consumers are increasingly preferring organic products featuring herbal or natural ingredients like argan oil, onion, tea tree, Aloe Vera, and green tea, among others. As a result, the market is witnessing high penetration of herbal hair serum brands across key geographical markets that facilitate retail sales expansion in the worldwide market. For instance, in September 2022, Herbal Farm, a Singapore-based neutraceutical brand announced the business expansion into the personal care segment with the launch of a new hair care range featuring serum, shampoo, and conditioners.

Furthermore, hair serums are widely used in hair styling to rejuvenate hair texture after hair coloring. With the rising popularity of hair coloring among millennial consumers, the demand for hair styling serum has been increasing across emerging economies along with developed countries. In hair styling, the serum is primarily used to enhance the hair curls and straightness while hair straightening or smoothing treatment. In addition, hair styling serums tend to reduce frizziness, improve detangling and impart shiny texture which is often lost due to bleaching and hair coloring.

During the COVID-19 pandemic, the demand for hair care products like hair serum across the developed countries and Tier I and Tier II cities of other countries have increased as the majority of patients reported heavy hair loss after Covid-recovery. For instance, Dr. Reddy's, one of the leading hair care clinics in India recommended the use of topical hair serums like Mintop Pro Hair Serum in daily hair care routines to promote post-covid hair growth.

Hair Serum Industry Segmentation

Hair serum is a hair care product that adds a protective layer to the scalp and helps in the nourishment of hair, generally used post hair coloring and bleaching. The global hair serum market is segmented by product type, distribution channel, and geography. By product type, the market is segmented into hair styling serum and hair treatment serum. Based on the distribution channel, the market is segmented into supermarkets/hypermarkets, pharmacies/drug stores, online stores, and other distribution channels. It provides an analysis of emerging and established economies across the world, comprising North America, Europe, South America, Asia-Pacific, Middle East, and Africa. For each segment, the market sizing and forecasts have been done based on value (in USD million).