The hair thickener serum market is anticipated to expand to a valuation of US$ 1.2 billion in 2023 and is predicted to exhibit a compound annual growth rate (CAGR) of 8.5% from 2023 to 2033 to reach US$ 2.72 billion by 2033.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value (2023) | US$ 1.2 billion |
| Anticipated Forecast Value (2033) | US$ 2.72 billion |
| Projected Growth Rate (2023 to 2033) | 8.5% CAGR |
The major factors driving the growth of hair care items in the coming years include the uplifting expansion of the market for personal grooming products, growing demands for hair products, particularly among men, and expenditure by hair thickness serum-producing manufacturers to raise public awareness about halting hair malnutrition.
Several key variables contributing to the development of the hair thickener serum market include changes in hairstyle patterns, rapid increases in spending power, and a growing population, as well as a raise in air pollution around the globe. Furthermore, the increased use of specialist hair care items in advanced economies, as well as the increased use of natural cosmetics components, are anticipated to provide significant prospects for expansion for hair thickener serum.
The hair treatment serum segment has the highest value share of all product types. One of the major reasons for the segment's ultimate growth in terms of revenue growth has been the significant concerns about hair loss and the desire for high-quality hair among potential customers.
The supermarkets/hypermarkets segment is expected to have the largest market share based on the sales channel. Customers always favor testing these items before buying them, and supermarkets/hypermarkets facilitate and cater to such consumers' requirements. Furthermore, this type of store begins several key advertising and promotional events, such as loyalty schemes, discounts, festive offers, and others.
The United States ranks as one of the most advanced nations in the hair serum industry. As reported by the National Alopecia Areata Foundation, Alopecia Areata affected about 6.8 million individuals across the nation in 2018.
Furthermore, as males' knowledge about their grooming has grown, so has the market dominance of haircare products, resulting in the prominence of hair thickness serum among all generations, particularly the ageing group in the US market.
Consumers in Europe have been experiencing an increase in the percentage of hair damage issues in the past few years. Hair damage as a result of a lot of chemical compounds used in and ecologic contamination, hair thickness serum has been demonstrated as a successful natural method for strengthening hair and providing them with integral serums, and these serums are gradually becoming standard hair products.
Furthermore, the accessibility of natural serum and a combination of old traditional herbal supplements in hair thickness serum has been a significant reason for these serums' success in the European market.
The sales platform, branding, and advertising strategies can flip the tables for any item or industry. As a result, hair thickener serum must be placed in a relevant distribution platform.
The increasing penetration of hair thickener serum within the distribution network is sufficient, but there is a slowdown in the selling graph via online sales. Effective marketing may enhance consumer awareness, and efficient strategic channelling may provide clients with wider reach and much-needed accessibility, likely to result in an exponential expansion of the market for hair thickener serum.
Moreover, because men are increasingly using hair care products, manufacturers are focusing on the male population. Businesses are launching new product lines for men in the type of hair serums and other hair care items. The growing percentage of male consumers is a significant driver of the development of the hair thickener serum market.
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According to the latest research by Future Market Insights, the hair thickener serum market is set to witness steady growth from 2023 to 2033.
With optimistic growth in the demand for personal grooming products, growing demand for hair products especially among males, and money spent by hair thickness serum-producing companies to create awareness among the public for preventing hair from malnutrition are some of the factors propelling the growth of hair care products shortly.
Consumer inclination towards “natural” alternatives to hair care has become quite obvious over the past few years. coincides with eco-friendly and organic beauty brands.
Novel herbal ingredients are being incorporated into a range of natural skin and hair applications for cosmetic as well as therapeutic benefits.
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Counterfeit products in the hair care industry pose a serious threat to the safety as well as trust of customers in the market. Further, there has been ascend in the counterfeiting of hair care products in recent years. Counterfeit Products with similar packaging have made it difficult to discriminate between fake and original products.
Moreover, the cases of fake hair care products including hair thickener serum causing allergic reactions, hair fall problems, and among others have also increased in recent years. Hence, place of sale, price, trademark, and packaging are considered crucial points that segregate counterfeit products from original products.
In addition, stringent regulations have been introduced in the hair care industry that helps to differentiate original products from counterfeit products. Anti-counterfeiting groups are also being formed to fight against counterfeit products in the hair care industry.
The USA is one of the most dominant countries in the hair serum market. According to a report by National Alopecia Areata Foundation, in 2018, nearly 6.8 million people in the United States were affected by Alopecia Areata.
Further, with an increase in awareness about personal grooming among males has resulted in an increase in the market share of hair treatment products which has resulted in the popularity of hair thickness serum among the generation of every group, especially in the aging group in the USA market.
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In Europe, the percentage of hair damage problems among individuals has been increasing over the past few years. Hair damage due to a lot of chemicals used in hair styling products and environmental pollution, hair thickness serum has been proved as an effective natural way to strengthen hair and providing them essential serums, now slowly these serums are becoming normal hair products.
Further, the availability of natural serum and a mix of old traditional home remedies in hair thickness serum has been the major reason behind these serums to capture the European market.
The sales channel, marketing & advertising strategies hold the ability to turn tables over for any product or even market. It is consequently pivotal that hair thickener serum is positioned in an appropriate sales channel.
The hair thickener serum penetration level within the distribution system is high enough, yet there has been a lag in the sales graph via online retailing. Effective marketing might lead to augmented consumer awareness and strategic sales channelizing might give the customers a greater reach and much-needed convenience, resulting in an explosive rise in the hair thickener serum demand.
Some of the leading manufacturers and suppliers of hair thickener serum are
The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Hair Thickener Serum Market
