Skincare serum market value estimated at US$6.28 billion by 2031, TMR study

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  • The increasing shift of new era consumers towards natural and ethically produced products is creating opportunities in the skincare serum market
  • Vitamin C Essence Serum’s properties of fast absorption and penetration that impart a healthy glow to the skin demonstrate the demand

WILMINGTON, Del., August 22, 2022 /PRNewswire/ — TMR analysts estimate that the skincare serum market will grow at a CAGR of 7.4% during the forecast period from 2022 to 2031. Growing awareness of the use of various kinds of serums to treat skin problems, such as acne, blemishes and blackheads lead the skincare serums market. The growth of the retail sector, the increasing number of specialized skincare stores and the proliferation of e-commerce are further driving the skincare serum market.

A detailed review of skincare serum market trends shows a rapid shift in the cosmetics and personal care industry towards organic and natural products. Rising health awareness and demand for eco-friendly products are leading to product innovations in the cosmetics and personal care industry. Consumers’ skincare routine now includes organic, naturally made, eco-friendly and vegan products.

Europe held the leading share of the skincare serum market in 2021. Science-driven product development and innovation in the cosmetics industry to consider Europe hold a key share of the skincare serum market. Booming cosmetics and personal care industry with growing consumer awareness of health, wellness and personal care products, among which skin care is dominant, accounts for a major share of the skincare serum market of the skin of Europe.

Asia Pacific is expected to become a leading region in the skincare serum market over the forecast period. Rapid economic growth and increasing awareness of the benefits of exotic ingredients in skincare products are likely to propel the future market demand for skincare serums in developing and developed countries.

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Skin Care Serum Market – Key Findings of the Report

  • The substantial awareness among consumers of the new era in the composition of personal care products is leading to an increasing drift towards organic products. Shifting preference to gravitate towards brands that use natural ingredients, adhere to eco-friendly manufacturing practices, and manufacture cruelty-free products to influence skincare serum market size.
  • The growing craze for cosmetic products not tested on animals is pushing manufacturers to introduce cruelty-free products. Organic and ethical products are gaining increasing share over traditional chemical-based branded products, despite their higher cost and shorter shelf life.
  • The oil serum segment held the top share of the skincare serum market in 2021. Ease of use and effectiveness in targeting specific skincare concerns make the oil serum segment the key to the skincare serum market. Additionally, an attractive composition with high-end, fast-absorbing specialty carrier oils that provide moisturizing and barrier repair properties, and the presence of other essential fatty acids and polyphenols that can be metabolized by the skin make the segment of attractive oily serums.
  • The regular influx of vitamin C skin care products, especially vitamin C serum for skin care, leads to the formulation of vitamin C compounds for the short shelf life of vitamin C pure.
  • The anti-aging serum application segment held a major share of the skincare serum market in 2021. The growing awareness in treating age-related skin changes such as fine lines, wrinkles and dark spots for Regaining youthful skin is leading middle-aged consumers to spend substantial sums on anti-aging serums.
  • The retail pharmacy distribution channel is expected to account for a key share of the skincare serum market during the forecast period. Manufacturers and retailers are improving supply chains to meet growing demand for skincare products. Skincare brands are increasingly adopting an omnichannel sourcing model to serve the tech-conscious new-age segment that emerged post-COVID-19.

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Skincare Serum Market – Growth Drivers

  • Attributes of clear, gel-like texture and thin consistency for powerful ingredients to penetrate directly into the skin’s spell demand
  • The availability of various types of serums to treat skin disorders such as blackheads and acne is propelling the skincare serum market

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Skin Care Serum Market – Key Players

Some of the key players operating in the skin care serums market are;

  • Loral Group
  • Amway
  • Unilever
  • Sanitas skin care
  • Estee Lauder Companies
  • Overseer and bet
  • Philosophy Inc.

The skincare serums market is segmented as follows;

Skincare Serum Market, By Type

  • Oil Serum
  • Gel Serum
  • Emulsion Serum
  • Others

Skincare Serum Market, By Application

  • Anti-Aging Serums
  • Antioxidant Serums
  • Skin whitening serums
  • Hydrating serums
  • Anti-acne serums
  • Others

Skincare Serum Market, By Distribution Channel

  • Hospital pharmacies
  • Retail pharmacies
  • Online pharmacies

Skincare Serum Market, By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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