This market research report segments the global cosmetic serum market by product type (skin and sun care serum and hair care serum) and by geography (APAC, the Americas, Europe, MEA). The report also accentuates the major drivers and key trends that are influencing the market growth. An in-depth analysis of the leading vendors in this market such as Chanel, Estee Lauder, Kao, L’Oreal, LVMH, and Shiseido is also included in the report.
Technavio’s market research analysts estimate the global cosmetic serum market to grow at a CAGR of around 3% between 2016 and 2020. Introduction of new products and rising sales of luxury cosmetic item are propelling the growth of cosmetic serums worldwide. The Americas lead the global market for cosmetic serums, occupying around 37% of the overall market share. Rise in product innovations have led to increased consumption of popular cosmetics in the region, boosting the growth prospects for cosmetic serums.
The new market research report from Technavio provides a breakdown and analysis of the cosmetic serum segments by technology.
“Manufacturers are developing natural and organic cosmetics products, owing to increase in health and wellness trends. For instance, Maine Chaga Age-Defying Face Serum uses a unique mushroom formula with high antioxidants and amino acids to retain younger looking skin. Similarly, Pestle & Mortar’s serum is 100% free of animal-derived raw materials and organic solvent remnants, paraben, propylene glycol, and fragrance and is not tested on animals,” says Arushi Thakur, Industry Manager, Consumer & Retail, Technavio Research.
The skin and sun care serum segment accounts for 65% of the total market share, and is predicted to grow at a CAGR of almost 4% during the forecast period. It includes moisturizer, blemish and acne treatments, eye treatments, face sunscreen, self-tanners for face, cellulite and stretch marks and nail treatments and remover. This segment is multiplying tremendously as women, both young and old, seek products to help them achieve better-looking skin.
The leading vendors in the global cosmetic serum market are Chanel, Estee Lauder, Kao, L’Oreal, LVMH, and Shiseido. Observing the high competition in the cosmetic serum market, manufacturers are introducing new strategies into the market by using techniques such as celebrity endorsements and fashion shows to showcase new trends in cosmetics. Such approach will help them to expand their market shares and retain their position at the top.
A more detailed analysis is available in the Technavio report, Global Cosmetic Serum Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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