Allied Market Research published a new report, titled, “Cosmetic Serum Market 2021-2030” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
Surge in use of serums for skin, hair, and face has been seen and manufacturers have extended their product from premium segment to middle-class segment. The introduction of serum-based products for the middle-class segment and increase in awareness for healthy skin and hairs has created a new customer base for the serum manufacturers. In addition, the aging population throughout world entering the age of 60 years or more have more demand for face serums.
New products launched by market leaders with improved ingredients and benefits have targeted every segment and made an overall impact that helped the global serum market to rise. Artistry by Amway has launched serums which has a base ingredient and 4 more amplifiers like hydration (for 233% more hydration), anti-wrinkle (for improved fine lines and wrinkles), anti-spot (for reducing dark spots), brightening (for improved brightness). This series by Artistry works with one base serum for different skin problems.
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Manufacturers are focused on producing new range of serums serving the aging group and the problems of the face. Key market players have launched products which are specifically for people above 60 years and want anti-aging properties. Olehenriksen has introduced age-defying serums which instantly targets wrinkles, dark spots, fine lines, and reduces aging. The product Glow Cycle Retin-ALT Power Serum contains edelweiss stem cell, bakuchiol, red algae, and tara extracts which makes the skin look firm, promote firmness, gives even tone, and removes spots. In addition, the product doesn’t contain parabens, sulfates, or phthalates and are applicable to all skin types.
The key market players profiled in the report include IT Cosmetics LLC, Philosophy Inc, Philosophy Inc, Loral Group, Olehenriksen, Ester Lauder Companies, Amway, First Aid Beauty Ltd, Proctor and Gamble, EMK Products LLC, Crop Infrastructure Corpand Hindustan Unilever.
North America (U.S. and Canada), Europe (Germany, UK, France, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and the rest of Asia-Pacific), LAMEA (Middle East, Brazil, Mexico, and the rest of LAMEA)
COVID-19 Scenario Analysis:
Geographically Analysis – Many MNC’s halted their production and worked with minimal factory efficiency due to which the production of cosmetic serums decreased. Salons and SPA centers, the most frequent customers, were closed amid lockdown, which impacted the sale of cosmetic serum.
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Key Benefits of the Report:
○ This study presents the analytical depiction of the global cosmetic serum industry along with the current trends and future estimations to determine the imminent investment pockets.
○ The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global cosmetic serum market share.
○ The current market is quantitatively analyzed from 2020 to 2030 to highlight the growth scenario of the global cosmetic serum Market.
○ Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
○ The report provides a detailed global cosmetic serum Market analysis based on competitive intensity and how the competition will take shape in coming years.
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