Market Trends of Hair Serum Industry
This section covers the major market trends shaping the Hair Serum Market according to our research experts:
Rising Preference for Advanced Hair Care Solutions
The demand for hair care and hair styling products like hair serum has increased significantly in the recent past with numerous cases of hair loss and hair damage being recorded across many countries in the world. Hair loss has become one of the most common hair problems among the population from Tier I and Tier II cities as they are constantly exposed to pollution and harmful UV rays leading to a damaged scalp, hair loss, and brittle and dry hair texture. This, in turn, requires advanced hair care solutions to survive in the changing environmental conditions. Most professional hair treatments involve the application of hair serums to treat dull and damaged hair. Therefore, the increasing number of professional salons to cater to rising consumer preference for bespoke hair care services is identified as the key factor driving the growth in the worldwide hair serum market.
Further, hair serum is also used as a styling element that imparts smoothness and shiny texture along with hair nourishments. Hence, consumers in the market are preferring products that help in decreasing hair loss problems and nourishing the hair for better texture.
North America is the Largest Market
The hair serum market is experiencing a significant demand across North America as consumers in the region are aware and conscious of hair growth and health when compared to consumers from other parts of the world. Further, consumers are more open to hair coloring and hair styling, driving the demand for hair styling serum products to rejuvenate the hair texture post-hair coloring. For instance, the recent data disclosed by PBA (Professional Beauty Association) shows that hair styling products acquired around 26% share in the total sales of U.S. salons for 2021. Hair serum tends to reduce frizziness and imparts a shiny texture to the hair. Also, rising consumer interest in organic hair care products is influencing the sales of herbal hair serums formulated with natural extracts such as rosemary, ginger, avocado, and neem leaves, among others. key brands are introducing a range of new products in response to changing consumer perceptions. For instance, in September 2022, UNITE, the U.S.-based hair care product brand launched a new hair serum called BOOSTA PLUS+, featuring scutellaria baicalensis root extract, wheat germ extract, and soybean germ extract as key ingredients.
