The global cosmetic serum market is anticipated to grow at a CAGR of 5.7% during the forecast period (2022-2028). The global cosmetic serum market is growing due to the rising awareness among the individual to maintain their youthful appearance. The rising awareness about the advantages of using serum owing to their skincare benefits and the increasing adoption of using serum in urban areas is boosting the growth of the market. The changing consumer lifestyle along with rapid urbanization is considered as the factor for the growth of the market. The rising usage of personal skin care products and their changing habits has increased the demand for the serum market and the manufacturers are leveling up their production to supply more products in the market. The increasing investment by major market manufacturers for research and development and shifting towards consumer preference for organic products over chemical serum products is propelling the growth of the market. The manufacturers are also introducing small bottle serums as a sample product for the consumers so that the consumer can use them, apply them, and then buy them in larger volumes. Several other strategies by the market players to increase their sales numbers are also expected to boost the growth of the market. The large varieties of cosmetic serums such as skin lightening serums, acne preventative serums, anti-aging face serums, and others are available for the young and medium-aged population who face skincare issues are anticipated to propel the growth of the market. Additionally, manufacturers are also collaborating with social media influencers and content creators to create brand awareness and promote their products. Several promotions and advertisements are creating awareness in the customer to have better-radiating skin and glowing skin by using serum and attributedd to propel the growth of the cosmetic serum market in the forecast period.
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Some major players in the market include E.l.f. Cosmetics Inc., Grande Cosmetics LLC, JB Cosmetics Group, L’Oréal S.A., LVMH Group, Pacifica Beauty, and RapidLash, among others. The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance:
- In April 2022, BELVISO launched premium skin care product range in the Indian market. The product includes Belviso Vitamin C Serum, Belviso Multi-Acid Serum, and Belviso Niacinamide Serum.
- In April 2022, L’Oréal Paris collaborated with the Dubai Duty Free Group (DDF) on a pop-up store to promote the new launch of the Age Perfect Cell Renew Midnight Serum.
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Market Coverage
- The market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- E.l.f. Cosmetics Inc., Grande Cosmetics LLC, JB Cosmetics Group, L’Oréal S.A., LVMH Group, Pacifica Beauty, and RapidLash, among others.
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Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Cosmetic Serum Market Report by Segment
By Type
- Hair Care
- Skin Care
- Eye Serum
- Blemish and Acne Treatment Serum
- Others
By Application
- Male
- Female
Global Cosmetic Serum Market Report by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
Key Questions Answered by Cosmetic Serum Market Report
- What was the Cosmetic Serum Market size in 2022 and 2028; what are the estimated growth trends and market forecast (2022-2028).
- What will be the CAGR of the Cosmetic Serum Market during the forecast period (2022-2028)?
- Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
- Which manufacturer/vendor/players in the Cosmetic Serum Market was the market leader in 2022?
- Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
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