Global Facial Serum Market - 2022-2029

Global Facial Serum Market - 2022-2029

Market Overview

A facial serum is a lightweight moisturizer with a higher concentration of active ingredients like glycolic acid, hyaluronic acid, and vitamin C. Facial serums are often used to manage specific skincare concerns like wrinkles, acne, dry skin and dullness. Facial serums are absorbed quickly into the skin. Facial serums are thinner than moisturizers, which makes them perfect for layering. They are available in different formulas, such as gels, oils, and light creams. A facial serum provides oxidation, hydration and a concentrated dose of nutrients to the face. It soothes sensitive skin. These benefits of facial serum drive the market growth of facial serum in the forecast period.

The global facial serum markets were valued at USD YY million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 4.78% during the forecast period (2022-2029).

Market Dynamics: Increasing beneficial awareness of facial serum drives the market growth

Face serums are formulated with an active ingredient that helps to smoothen face skin. The application of facial serums minimizes the skin pores that help to improve skin texture. One of the primary benefits of facial serum is it contains active moisturizing ingredients that keep the skin moisturized. Hyaluronic acid is the ingredient in the facial moisturizer that keeps skin moisturized, smooth and soft. Face serum contains anti-inflammatory ingredients that soothe sensitive patches of the skin. Face serums benefits by eliminating skin blemishes, particularly serums with skin-lightening ingredients.

Active ingredients in the serum, like Vitamin C, retinol, resveratrol, and antioxidants, help to fight aging issues like wrinkles, dark spots, and fine lines. Ingredients in the face serum like Vitamin C, green tea, ferulic Acid, Vitamin E and astaxanthin in serums reduce the chance of oxidative damage. Facial serums also reduce the damage caused due to UV rays and pollution that leads to premature aging. Effective use of face serum promotes cellular regeneration and repair. Face serums boost the collagen of the skin to keep it firm. Serums reduce anti-inflammatory ingredients like glycerine, aloe Vera; shea butter and zinc to soothe that heal the skin. Increasing consumers' awareness of skincare treatment has boosted the sales of facial serums. Moreover, the easy availability of facial serums through various distribution channels such as departmental stores, hypermarkets, supermarkets, retail stores and online sales channels drives the market growth.

Market Segmentation: Eye serum segment accounted for the highest share in global Facial Serum market

The eye serum segment held the largest market share due to its high consumer demand and easy product availability. Eye serums are lightweight skincare products formulated especially for use around the eye. Most eye serums are designed to help address eye-area skin concerns, such as dark under-eye circles, crow's feet, or puffiness. Eye serums tighten and hydrate the skin around the eyes. They also help reduce the look of puffiness under the eyes, retexturize the skin, and reduce the appearance of uneven skin tone, while brightening and revitalizing it. Eye serums with a retinol or vitamin A alternative helps to reduce signs of aging and address damaged skin by making it appear restored for a youthful and radiant look. It decreases the signs of aging and addresses damaged skin by making it appear restored for a youthful and radiant look. It also helps plump up the skin and helps eliminate the appearance of fine lines and wrinkles. It also boosts hydration and brightens the area (around the eyes), giving it a radiant appearance. Increasing self-beauty awareness among consumers drives the market growth in the forecast period.

Geographical Penetration: Asia Pacific is the dominating region during the forecast period.

Asia Pacific is dominating the region in the forecast period due to the availability of multiple opportunities for operating players. The increasing adoption of western lifestyles, rapidly growing population and rise in the disposable income of consumers in developing countries like India, China, and others majorly drives the market. Moreover, increasing awareness of skin care products and their benefits has further increased the growth of the facial serum market. Major Key players in the region actively launched new products in the market. The increase in the working women population in the Asia Pacific region drives market growth due to the western lifestyle and use of beauty products.

Competitive Landscape:

There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Some major market players are Unilever Group, The Procter and Gamble Co., The Estee Lauder Companies Inc., Shiseido Co. Ltd., LOreal SA, Kao Corp., Johnson and Johnson Inc., Nykaa, Beiersdorf AG, and Avon Products Inc. among others. Some of the major key players launched new products in the market that drives market growth. For instance, in March 2022, Unilever launched a beauty serum trio in a simple facial skincare lineup. These facial serums comprise 3% Hyaluronic Acid + B5, which promises to lock in hydration, and 10% Vitamins C+E+F, which ""enhances the skin's glow, protects it against environmental aggressors, and moisturises and strengthens the skin barrier."" Each product is suitable for sensitive skin and is vegan. These products are available on Boots.com. Also, in April 2022, Unilever launched an exclusive collection of a full range of cleansers, treatments, masks and moisturizers that use fermented actives. The product prices range from $14.99 to $18.99. Ferver offers face serum in three main actives: hyaluronic acid, collagen and prebiotics. Hyaluronic Acid Serum is a hydrating face serum containing high and low molecular-weight acids. The Collagen Serum is a firmness-focused face serum that uses argan, coconut and macadamia nut oils to nourish skin and stimulate collagen production. Some key players follow merger and acquisition strategies to increase their income and fulfill consumer demand. For instance, in October 2021, Wellbeam Consumer Health Acquired TruSkin, a leading skincare brand Seller Company. TruSkin is manufactured in the United States without unnecessary additives or animal testing. This acquisition helps to fulfill the consumer's demand.

COVID-19 Impact: Negative impact on the global facial serum market

Due to decreased sales of personal care products and customers' rising choices for health, hygiene, and protection items, the COVID-19 pandemic had several negative effects on the facial serum market. Furthermore, because of the complete lockdown, beauty parlors are closed, which has resulted in a decrease in demand for facial serum. Moreover, in 2020, sales in the beauty industry decreased. In China, the beauty industry's 2020 sales fell to 80 percent compared to 2019. Due to the lockdown, work-from-home culture increased, so women avoided daily makeup, reducing facial serum sales to a certain extent. Moreover, the supply chain was completely disturbed during the pandemic. Hypermarkets and supermarkets were closed during the pandemic, which created a gap in the demand and supply of facial serum.

The global facial serum market report would provide an access to approximately 69 market data tables, 63 figures and 170 pages