According to a new report published by AkVis Intelligence, titled, “Hair Growth Serum Market by Type, Distribution, Product Type, Nature: Global Opportunity Analysis and Industry Forecast, 2024–2032,” the global Hair Growth Serum market size was valued at $ 1600 Million in 2023, and is projected to reach $ 3200 Billion by 2032, registering a CAGR of 8.02% from 2024 to 2032. The hair growth serum market is experiencing a surge in popularity, driven by a confluence of factors that cater to modern concerns, buying habits, and a growing desire for healthy hair. Here's a deeper look at the key forces propelling this market's remarkable growth Unfortunately, hair loss, thinning, and damage are becoming increasingly common. Factors like stress, pollution, unhealthy lifestyles, and even genetics contribute to these issues.
Alternatives that are natural and organic are becoming more and more popular as people become less trusting of harsh chemicals. Serums containing natural ingredients such as vitamins and botanical extracts are becoming more and more popular in the hair care industry. Since these products are thought to be safer and maybe more effective, the market is expanding. Natural components still have a lot of appeal, but serums with scientific backing are growing in popularity. Manufacturers are adding components to their products that have been verified by science and conducting research to prove their efficacy. This blend of organic and scientifically based solutions aids in the market's development of confidence and trust. The way that consumers make purchases has significantly changed as e-commerce has grown. This will be extremely helpful to the hair growth serum market.
The market for hair growth serums is seeing an increasing preference for natural and herbal ingredients. Several factors that appeal to people's desires for safety, transparency, perceived efficacy, and a comprehensive approach to hair care have come together to cause this shift in consumer choice. Customers are becoming more concerned about the potential negative consequences of harsh chemicals and synthetic components, which is leading to a trend towards more mild, natural alternatives. This is particularly true for those with sensitive scalps who are worried about irritation or allergic reactions. Natural ingredients are supposed to be kinder to the scalp and less likely to cause side effects.
Think about offering subscription services for personalised hair growth serums that are tailored to the demands of the user. As a result, customers may now expect regular delivery of serums tailored to their individual problems and hair type. Subscription services assist your business retain customers and generate a consistent revenue stream. The market for male hair care products is expanding and has a lot of potential. You might open a whole new market if you develop serums specifically meant to address problems with men's hair, like healthy scalps and beard growth. Businesses can establish themselves as leaders in satisfying men's unique hair care needs by catering to this sometimes-overlooked market.
Global Hair Growth Serum Market, Segmentation
The Hair Growth Serum market is segmented on the basis of Type, Distribution, Product Type, Nature and region.
Type:
The Type segment is further classified into Hair Treatment Serum, Hair Styling Serum. Among these, the Hair Treatment Serum sub-segment accounted for the highest market share in 2023. When it comes to hair growth serums, hair treatment serums dominate the market. This dominance in this field can be directly attributed to a number of crucial components that satisfy customer needs and expectations. When making hair care serums, this is the only factor taken into account. Hair style serums concentrate more on look, whereas hair treatment serums address problems with hair such thinning, breakage, and poor growth. Their primary goal is to promote healthy hair and stimulate growth, which is exactly in line with the goals of the hair growth serum market. This targeted approach ensures that the constituents and arrangement are specifically chosen to tackle issues related to hair growth.
Product Type:
The Product Type segment is further classified into without silicone and with silicone. Among these, the with silicone sub-segment is anticipated to show the fastest growth by 2032. The market for hair growth serums is changing in an intriguing way, with silicone-based and silicone-free treatments vying for supremacy. Serums with silicone bases are most likely leading the way now. Customers are more familiar with these products because they are more readily available, have a longer shelf life, and possess attributes like gloss and manageability. However, things are really changing. The expanding natural and organic cosmetic trend has given rise to a growing need for serums free of silicone. Consumers who are more concerned about their health are drawn to serums that include more plant extracts and less artificial ingredients, such as silicone. Look for silicone-free products if you have fine hair or an oily scalp to avoid product buildup that can weigh down strands.
Region:
The Hair Growth Serum market in Asia-Pacific is projected to show the fastest growth by 2032. North America's population is getting older, and a higher proportion of the population is more likely to have hair loss. The market that hair growth serums are intended for grows as a result. Hair growth serums that are tailored to certain hair types and textures are necessary because of the ethnic diversity of the region. More clients are drawn to products with a wider range of options. Natural and organic hair care products are becoming more and more popular. Consumers in North America are seeking out natural elements like botanical extracts in hair growth serums since they believe these ingredients to be more kind and secure. Thanks to D2C, direct customer outreach is becoming increasingly typical for new brands.
Some of the leading Hair Growth Serum market players are
- The Procter and Gamble Company (USA)
- Revlon Consumer Products Corporation (USA)
- John Paul Mitchell Systems (USA)
- Giovanni Cosmetics (USA)
- Unilever PLC (UK)
- Olaplex (USA)
- The Ordinary by Deciem (Canada)
- Sugarbear Hair (Los Angeles, California, USA)
- Dark and Lovely (USA)
- Soft Sheen Carson (USA)
- L'Oréal Group (Europe)
- Henkel AG & Co. KGaA (Europe)
- Industrias Asociadas, S.L. (Europe)
- Redken (Europe)
- Herstyler (Europe)
Key Industry Developments
- In February 2024, L’Oréal Groupe and Prada S.p.A announced today the signature of a worldwide long-term license agreement for the creation, development, and distribution of the luxury beauty products for the Miu Miu brand. Following the successful collaboration with Prada brand, Miu Miu is now joining the L’Oréal Luxe division for a new beauty chapter.
- In February 2022, Wethrivv launched its new hair growth serum named Revivv. The product is manufactured from natural and drug-free solutions to treat hair loss. The company claims that the product is clinically tested and proven to rejuvenate hair growth. The product is marketed in the worldwide market through various third-party e-commerce websites.
Key Findings of the Study / Key Industry Developments.
- Natural and herbal ingredients are having a growing affection in the hair growth serum market.
- Asia Pacific is expected to dominate the market over the forecast period.
- With silicone segment held the largest share.
T. Kumbhar
Author Information
T. Kumbhar is a Senior Market Research Consultant at IMR, specializing in Agro-Chemicals, Food Tech, Consumer Goods, and more. With four years of experience, he delivers market insights, competitive analysis, and data-driven business strategies.
