The global facial serum market is anticipated to total USD 11 billion by 2034, estimated to gain a USD 5.9 billion valuation by 2024. This progress will be at a moderate CAGR of 6.4%. This market growth creates lucrative opportunities for investing in facial serum brands.
Attributes | Key Insights |
---|---|
Estimated Market Size in 2024 | USD 5.9 billion |
Projected Market Value in 2034 | USD 11 billion |
Value-based CAGR from 2024 to 2034 | 6.4% |
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Thus, these key facial serum industry trends govern customer interest in various brands. Consequently, these trends influence facial serum market investment.
The historical period projected the market advancement at a promising CAGR of 8.1%, elevating the facial serum market size from USD 4 billion in 2019 to USD 5.5 billion in 2023.
Strict imposition of lockdown was the primary market driver in the pandemic era. Consumers started looking for different opportunities to experiment to pass the time. Skincare was a method that leveraged pastime activities and skin health maintenance. Hence, the demand for facial serums surged, driving the subject market.
Encapsulation enabled customers to smoothen their skincare routine. Also, the technological integration enabled the market to reduce the time consumed to apply serums and wait for them to become effective. Consequently, this was a key market driver for the industry.
Historical CAGR from 2019 to 2023 | 8.1% |
---|---|
Forecast CAGR from 2024 to 2034 | 6.4% |
The forecasted period registers the rising consumer awareness about men’s skincare. Due to this, many key players started playing an active role in this segment. This created lucrative chances for investments in the facial serum brands working in a new market segment. Hence, this is a primary demand generator for the period.
The rising concern about sustainability will likely drive the subject market. Customers prefer organic and sustainable compounds, redefining the market's progress path.
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North America is leading the global facial serum market. The main reason behind this is the growing consumer awareness regarding skincare treatments. Also, the market possesses great growth potential in the forecasted period.
Further, Europe contributes to the market along with the Asia-Pacific region due to the large-scale players investing in local facial serum brands.
Forecast CAGRs from 2024 to 2034
Countries | Forecasted CAGR |
---|---|
The United States of America | 6.7% |
The United Kingdom | 7.6% |
China | 7.2% |
Japan | 8.0% |
South Korea | 7.9% |
Category | Top Type- Anti-Aging Serums |
---|---|
CAGR % 2024 to End of Forecast (2034) | 6.2% |
Market Segment Drivers | Growing concerns about skin health and wrinkles will likely govern the growth potential of the market segment. , The competitive landscape is flooded by numerous anti-aging serums, developing more choices for customers. , Therefore, this drives the market segment. |
Category | Top Form- Water-Based |
---|---|
CAGR % 2024 to End of Forecast (2034) | 6.0% |
Market Segment Drivers | The competitive landscape is estimated to grow the production of water-based serums due to their versatile properties. , Acne and wrinkle-reduction are the key benefits of the market segments, developing better growth opportunities for it. |
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The competitive landscape of the facial serum market is governed by various key players, expanding with the help of numerous strategies. Their expansion's effectiveness determines these key players' growth potential. Key market expansion strategies include mergers and acquisitions, partnerships, strategic collaborations, and innovation.
For new entrants, the competitive landscape is highly cluttered. Product innovation is a key strategic move suggested to meet the demand-side and supply-side trends in the market.
Key Market Developments
Attributes | Details |
---|---|
Estimated Market Size in 2024 | USD 5.9 billion |
Projected Market Valuation in 2034 | USD 11.0 billion |
Value-based CAGR 2024 to 2034 | 6.4% |
Forecast Period | 2024 to 2034 |
Historical Data Available for | 2019 to 2023 |
Market Analysis | Value in USD billion |
Key Regions Covered |
North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East and Africa |
Key Market Segments Covered | Type, Form, Distribution Channel, Price Point, Region |
Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
Key Companies Profiled |
L'Oréal S.A.; Galderma S.A; Amorepacific Group Inc.; KOSÉ Corporation; Clarins Inc.; Unilever plc; Shiseido Company Limited; Beiersdorf AG; Estée Lauder Companies Inc.; Revlon Inc. |
The facial serum market is estimated to propel a CAGR of 6.4% through 2034.
The facial serum market is expected to reach USD 11 billion by 2034.
The facial serum market is expected to reach USD 5.9 billion by 2024.
The facial serum market's anti-aging serums segment will grow at a CAGR of 6.2% through 2034.
The facial serum market's water-based segment will grow at a CAGR of 6% through 2034.
Estimated Market Size (2024E) | USD 11,304.6 million |
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Projected Market Size (2034F) | USD 15,640.7 million |
Value-based CAGR (2024 to 2034) | 3.3% CAGR |
Expected Base Year Value (2024) | USD 457.20 million |
---|---|
Anticipated Forecast Value (2034) | USD 749.20 million |
Estimated Growth (2024 to 2034) | 5.10% CAGR |
Market Value for 2024 | USD 479.2 million |
---|---|
Projected Market Value for 2034 | USD 1,189.40 million |
Value-based CAGR of Market for 2024 to 2034 | 9.50% |
Market Size (2022) | USD 173.3 Million |
---|---|
Market Size (2032) | USD 299 Million |
Market CAGR (2022 to 2032) | 5.1% |
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