Skincare Serums Market Size, Share, Opportunities And Trends By Application (Anti-Aging, Brightening, Exfoliating, Hydrating, Others), By Skin Type (Dry, Sensitive, Oily, Others), By Ingredient Type (Hyaluronic Acid, Vitamin C, Retinol (Vitamin A), Alpha Hydroxy Acids (AHAs), Vitamin E, DMAE (Dimethylaminoethanol), Peptides, Others), By Distribution Channel (Supermarkets/Hypermarkets, Pharmacies/Drug Stores, Specialist Retail Stores, Online, Others), And By Geography - Forecasts From 2023 To 2028

Skincare serums are liquid beauty and personal care products that are frequently based on water or oil to assist in the easy penetration of the product into the skin. They contain active and highly efficient ingredients in strong concentrations to provide targeted benefits to the skin. Hyaluronic acid, vitamin C, retinol, alpha hydroxy acids, vitamin E, dimethylaminoethanol, and peptides are some of the most common ingredients used in skincare serums. The skincare serums are available in the market target different skin types including dry, oily, sensitive, and combination. The strong presence of topical ingredients incorporated in skincare serums enables the provision of effective results after consistent use. The development of cosmetics and beauty products in the online retail sector is further encouraging consumers to use skincare serums. In addition, the collaborations and paid partnerships of leading skincare brands with online content creators as marketing strategies are increasing the awareness of skincare serums among consumers and promoting the sales of different skincare serums. The rise in beauty and health consciousness among the present population is increasing the consumption of all types of skin care products including skincare serums. Therefore, it can be anticipated that the skincare serums market will significantly grow over the forecast period.

Market Drivers

• The increase in skin care concerns and skin-related diseases such as acne.

The rise in skin care concerns and the awareness of helpful ingredients to target such skin problems is resulting in increased consumption of skincare serums across the world. The incorporation of ingredients such as niacinamide, vitamin C, hyaluronic acid, peptides, and others allows the skincare serums to target particular types of skin issues such as hyperpigmentation, dullness, acne, and wrinkles to reduce their appearance. For instance, the Vitamin C serums manufactured by Minimalist and the Ordinary brighten the consumers’ skin and reduce face hyperpigmentation. The increase in pollution levels and the constant exposure to the sun during the daytime are contributing to the development of skin problems among an increasing number of consumers. In addition, the prevalence of hormonal disorders among men and women results in acne and other skin concerns which can be lowered using skincare serums. The American Association of Dermatology estimated that more than 50 million people in the US face acne problems. In addition, the United Nation stated that there are 1.2 billion people aged between 15 and 24 years across the globe. The onset of hormones among teenagers and adolescents results in several facial skin issues. Therefore, the rising awareness of skincare ingredients and the increased demand for skincare products to effectively fight skin problems is expected to stimulate the skincare serum market.

• Growth of the aging population.

The growing aging population across different countries provides another opportunity for the development of skincare serum products. The aging of the skin results in loss of tightness and overall health of the skin. The aging population is increasing the demand for several skincare treatments and products to aid them in restoring the strength and healthy appearance of their skin. The use of retinol and other anti-aging serums helps consumers to lower the appearance of fine lines and wrinkles by simultaneously tightening the skin to an extent. The World Health Organization announced that the population aged above 60 years reached 1 billion in 2020 and is projected to reach 1.4 billion by 2050. The promotion of skincare practices and products among consumers aged 60 years by leading skin clinics and brands is further creating more demand for skincare serums. For instance, the Tata Harper rejuvenation serum helps increase collagen production in the skin to facilitate anti-aging results among women aged 50 years and above. Therefore, the growing density of the international aging population is anticipated to promote the growth of skincare serums over the forecast period.

The strong competition offered by other similar skin care products is likely to put a restraint on the growth of the skincare serums market.

The ingredients used to manufacture skincare serums are also present in other types of skin care products such as toners, moisturizers, and other creams. In addition, the presence of minimally invasive cosmetic surgeries such as dermal fillers and botox has the potential to lower the consumption of skincare serums. Dermatology hospitals and skin clinics offer a wide range of over-the-counter products with similar effectiveness as skincare serums. Therefore, the availability of different substitutes for skincare serums could restrict the expansion of the skincare serums market.

Key Developments

• In November 2022, mCaffeine, an Indian beauty and skincare products manufacturing company introduced a new product Toner-Serum which acts as both toner and serum on consumers’ skin.
• In October 2022, Galderma Company introduced a new brightening serum, A-luminate serum to lower the appearance of pigmentation on the face under its Alastin Skincare division.
• In August 2022, Lotus Professionals introduced its new product line of PHYTORx which comprises of face serums and facial oils.

North America holds a significant share of the skincare serums market and is expected to grow in the forecast period.

The abundance of beauty and skincare brands in North America such as Neutrogena, Dermalogica, and The Ordinary is increasing the consumption of skincare serums across the US, Canada, and Mexico. The rising disposable income levels and the increasing demand for effective skincare products among North American consumers are driving its skincare serums market. In addition, the effectiveness of Korean skincare products is resulting in increased consumption of imported Korean skincare serums such as COSRX snail mucin serum, La Roche Posay serums, and Klairs serums in the US. The customer satisfaction associated with these products is creating more demand for the import of Korean skincare products and serums in the North American markets. Hence, it can be expected that North America’s skincare serums market will prominently grow over the forecast period.

Key Market Segments:

• By Application
  • Anti-Aging
  • Brightening
  • Exfoliating
  • Hydrating
  • Others
• By Skin Type
  • Dry
  • Sensitive
  • Oily
  • Others
• By Ingredient Type
  • Hyaluronic Acid
  • Vitamin C
  • Retinol (Vitamin A)
  • Alpha Hydroxy Acids (AHAs)
  • Vitamin E
  • DMAE (Dimethylaminoethanol)
  • Peptides
  • Others
• By Distribution Channel
  • Supermarkets/Hypermarkets
  • Pharmacies/Drug Stores
  • Specialist Retail Stores
  • Online
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Italy
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Vietnam
    • Others