by The global Cosmetic Serum Market is estimated to be valued at US$ 3.86 Bn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Serums are skincare products made with active ingredients at high concentrations. Unlike creams, serums are lightweight and infused with antioxidants, peptides, and hyaluronic acid that help nourish and hydrate skin.
Market key trends:
One of the key trends in the cosmetic serum market is the rise of customized and personalized serums. With increasing demand for targeted skincare solutions, companies are offering serums developed specifically for different skin concerns like aging, acne-prone skin, sensitivity etc. Customers can take skin analysis tests online or in-store to get personalized serum recommendations. Moreover, rising popularity of Korean beauty brands and their affordable yet effective serum-based skincare routines is also fueling the market growth. The cosmetic serum market is witnessing high growth in demand for anti-aging serums. With increasing lifestyle changes, pollution and constant exposure to sun, the signs of aging like wrinkles, dark spots and dullness have increased at younger ages. This has boosted the demand for anti-aging cosmetic serums which are formulated with active ingredients to reduce fine lines, dark spots and wrinkles, giving a youthful glow to the skin. Also, the rise of social media and its obsession with flawless selfies has made people more conscious about their appearance and looks, driving the need for effective anti-aging serums.
SWOT Analysis
Strength: Cosmetic serums have high concentration of active ingredients that deeply nourish the skin and target specific concerns like wrinkles, pigmentation etc. in an effective way.
Weakness: Some natural or organic cosmetic serums may not be as effective as their chemical-based counterparts.
Opportunity: Launch of new advanced formulations with natural ingredients to suit growing demand for clean-label products. Market expansion opportunities in emerging regions.
Threats: Growth of do-it-yourself homemade beauty products, availability of low-cost alternatives. Stringent regulations over cosmetic product formulations and claims.
Key Takeaways
The Global Cosmetic Serum Market Size is expected to witness high growth, exhibiting CAGR of 5.0% over the forecast period, due to increasing awareness about beauty and skin care products and rising demand for anti-aging solutions.
Regional analysis: North America dominates the cosmetic serum market currently owing to high consumer spending on premium beauty products. Asia Pacific is expected to grow at the fastest pace during the forecast period with increasing disposable incomes, booming e-commerce and rising obsession with flawless looks in countries like China and India.
Key players operating in the cosmetic serum market are L’Oréal S.A., Estée Lauder Companies Inc., Shiseido Company, Limited, Procter & Gamble Co., Johnson & Johnson Services, Inc., Beiersdorf AG, Unilever PLC, The Body Shop International Limited, Kao Corporation, Colgate-Palmolive Company, Amway Corporation, Avon Products, Inc., Mary Kay Inc., Clarins Group, Coty Inc.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
