Value of Skincare Serum Market Estimated at US$ 6.28 Bn by 2031, TMR Study

• Increasing shift of new-age consumers toward natural, ethically-produced products creates opportunities in skincare serum market
• Properties of Vitamin C essence serum of quick absorption and penetration that imparts healthy radiance to the skin demonstrates demand

WILMINGTON, Del., Aug. 22, 2022 /PRNewswire/ -- Analysts at TMR estimate the skincare serum market to expand at a CAGR of 7.4% during the forecast period from 2022 to 2031. Rising awareness to use various types of serums to treat skin issues, such as acne, blemishes, and black heads is driving the skincare serum market. Growth of the retail sector, increasing number of specialty skincare stores, and proliferation of e-commerce further boosts the skincare serum market.

A detailed scrutiny of skincare serum market trends demonstrates rapid shift of cosmetics and personal care industry toward organic and natural products. Rise in health awareness, and demand for environment sustainability products is leading to product innovations in the cosmetic and personal care industry. Consumers' skincare routine now includes organic, naturally-manufactured, environmentally sustainable, and vegan products.

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

Asia Pacific is expected to emerge as a prominent region in the skincare serum market during the forecast period. Rapid economic growth and rising awareness about the benefits of exotic ingredients in skincare products is likely to propel the future market demand for skincare serums in developing and developed countries.

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Skincare Serum Market – Key Findings of the Report

• Substantial awareness among new-age consumers about composition of personal care products is leading to increasing drift toward organic products. Shift in preference to gravitate toward brands that use natural ingredients, adhere to eco-friendly manufacturing practices, and manufacture cruelty-free products to influence skincare serum market size.
• Growing inclination for cosmetic products that are not tested on animals is compelling manufacturers to introduce cruelty-free products. Organic and ethical products are garnering increasing share over traditional chemical-based branded products, despite their higher cost and shorter shelf-life.
• Oil serum segment held the leading share of skincare serum market in 2021. Easy to use, and efficacy to target specific skincare issues makes oil serum segment key in the skincare serum market. Additionally, attractive composition with fast-absorbing high-end specialized carrier oils that provide moisturizing and barrier repair properties, and presence of other essential fatty acids and polyphenols that can be metabolized by the skin makes oil serum segment attractive
• Steady entry of vitamin C skincare products, particularly vitamin C serum for skincare routine, is leading to the formulation of vitamin C compounds for the short shelf life of pure Vitamin C
• Anti-aging serum application segment held significant share of skincare serum market in 2021. Rising awareness to treat age-related skin changes such as fine lines, wrinkles, and black spots to regain skin's youthfulness is leading middle-aged consumers to spend substantial amount on ant-aging serums.
• Retail pharmacies distribution channel is anticipated to account for key share of skincare serum market during the forecast period. Manufacturers and retailers are improving supply chains for the growing demand for skincare products. Skincare brands are increasingly adopting omni-channel supply model to serve the tech-savvy new-age health-conscious 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 directly enter the skin spells demand
• Availability of various types of serums to treat skin disorders such as black spots and acne propels skincare serum market

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Skincare Serum Market – Key Players

Some of the leading players operating in the skincare serum market are;

• Loral Group
• Amway
• Unilever
• Sanitas Skincare
• Estee Lauder Companies
• Proctor and Gamble
• Philosphy Inc.

The skincare serum 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
• Acne Fighting 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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