Facial serum is an oil and water-based skincare cosmetic product. It has the ability to penetrate deep into the skin and tighten the skin. Facial serums contain active substances of very high concentration, and provides visible results when they are applied to the skin as compared to other moisturizers or cosmetic creams. Serums are ideal for different skincare treatments such as aging, acne, skin tightening, skin brightening, etc.
Increasing awareness among consumers for skincare treatment has boosted the sale of facial serums. Some facial serums are fat based, which provides a far stable environment for the active compound compared to the regular cosmetic creams. Facial serums are also prescribed by skin specialists for treating acnes, skin lightness, and facial wrinkles. Increasing disposable income of people has enabled them to spend on personal grooming.
Moreover, rise in prevalence of skin related problems, such as facial wrinkles, acnes, hives, and aging are likely to boost the demand for facial serums in the near future. Rise in demand for skincare products from middle aged women is another major factor driving the growth of the facial serum market. Furthermore, rise in the trend of grooming among men is projected to contribute to the growth of the facial serum market during the forecast period. Manufacturers are providing attractive and innovative packaging to facial serums. Inclusion of natural and organic ingredients in facial serums is attracting customers to opt for natural facial serums.
Facial serums are available through various distribution channels such as supermarkets and hypermarkets, departmental stores, drug stores, exclusive brand outlets, and retail stores. Accessibility to these places is easy for consumers, which helps in creating demand for the product. Various manufacturers have started offering their products online to increase the sales of the product for the consumers which are easy on-the-go shopping experience and convenience. Expansion of distribution channels and giving discounts on online shopping are expected to support the growth of the facial serum market during the forecast period.
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Use of facial serums has certain associated risks, which are likely to affect the demand for the product; for example, use of facial serums may lead to red spots, itching, burning, etc. on the skin. Moreover, facial serums are patented and require unique formulation for manufacturing the product, which is anticipated to discourage potential manufacturers from entering the market. Furthermore, facial serums are made from active and concentrated ingredients, which adds to their cost and is likely to hamper the demand for the product during the forecast period.
The global facial serum market can be segmented based on product, skin type, gender, distribution channel, and region. On the basis of product type, the global facial serum market can be classified into eye serums, anti-aging serums, acne and blemish treatment serums, face sunscreen serums, face moisturizing serums, and others (facial self-tanning serums, redness serums, etc.). In terms of skin type, the facial serum market can be divided into dry, normal, oily, sensitive, and combination.
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Based on gender, the global facial serum market can be categorized into men and women. On the basis of distribution channel, the facial serum market can be bifurcated into online and offline. The offline segment comprises large format stores, specialty stores, and small retail shops. Based on region, the global facial serum market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Key players operating in the global facial serum market are LOréal S.A., The Procter & Gamble Company, LVMH Moët Hennessy Louis Vuitton SE, CHANEL International B.V., The Estée Lauder Companies Inc., Unilever plc, Amway, Johnson & Johnson, Revlon, Inc., and Burberry Group PLC.
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