San Francisco, 07 February 2024: The Report Facial Serum Market Size, Share & Trends Analysis Report By Type (Anti-Aging Serums, Skin Brightening Serums), By Form, By Distribution Channel, By Price Point, By Region, And Segment Forecasts, 2024 - 2030

The global facial serum market size is expected to reach USD 8.58 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.6% from 2024 to 2030. Consumers are becoming more aware of the importance of preventive skincare and proactive measures against aging. Concerns related to dark circles, acne, hyperpigmentation, and age spots have led to an increase in demand for serums targeted at various skin concerns and demographics.

For instance, according to statistics published by the American Academy of Dermatology Association (AAD), acne is the most common skin disorder in the U.S. It affects up to 50 million Americans every year . Therefore, rising demand for skincare products with active ingredients is growing across the globe. Consumers are increasingly concerned about sustainability and ethical sourcing when it comes to their beauty choices. Brands with transparent practices have an opportunity to attract these consumers.

Additionally, an increasing number of consumers are becoming aware of the potential harmful effects of synthetic ingredients and are seeking out serums formulated with organic and natural ingredients. Increased spending power, particularly in emerging economies, allows more consumers to invest in premium skincare products such as facial serums. For example, Sirona, an India-based feminine hygiene company, expanded its skincare product line in 2021 by introducing face serums targeted at sensitive skin for its domestic market.

Consumers are looking for skincare products that meet their specific needs and concerns. The steady growth of the men's grooming industry has led to a rise in the adoption of face serums among men as part of their skincare routines. Encapsulation technologies are being used to enhance the efficacy and potency of anti-aging serums, attracting consumers seeking faster and more noticeable results. For instance, according to an independent clinical test conducted in February 2021, CHLITINA, a cosmetics company based in Taiwan, reported significant results with its latest anti-aging serum utilizing nanostructured lipid carrier encapsulation technology. The serum was found to reduce wrinkles by 31% and improve skin firmness by 40% in six weeks

Key product manufacturers are also focusing on developing products that combine different active ingredients such as hyaluronic acid and other ingredients like vitamin C, retinol, or peptides. These combination products are becoming more popular in the market. Furthermore, facial serums are more accessible to consumers worldwide thanks to the e-commerce boom. Social media platforms and celebrity endorsements have had a significant impact on the beauty industry. Skincare influencers and celebrities often promote the use of serums, influencing consumer interest and demand.

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Manufacturers are continuously investing in R&D activities to create serums with even more potent ingredients, novel delivery systems, and personalized formulations to cater to diverse needs. Brands are now catering to diverse skin tones and concerns with serums formulated for specific ethnicities and sensitivities. In October 2022, Organic Naturals Skincare, a Botswana-based cosmetics manufacturing company, developed a new niacinamide brightening botanical serum designed to deliver high concentrations of specific active ingredients to the skin. The product helps to reduce hyperpigmentation, wrinkles, and severe acne by fighting acne-causing bacteria and hydrating the skin.

Facial Serum Market Report Highlights

• Anti-aging serums dominated the market in 2023. With aging population in many countries globally, there is a growing interest in anti-aging and preventive skin care. Consumers are also adopting a proactive approach to anti-aging by seeking out serums that can address early signs of aging while also preventing future ones
• Demand for oil-based facial serums is expected to surge in the forecast period. Lightweight, fast-absorbing oils such as squalane, jojoba, and grapeseed oil are becoming more popular due to their non-greasy feel and effective absorption. Oil-based serums are ideal for facial massage as they promote lymphatic drainage, boost circulation, and enhance their benefits
• Supermarkets and hypermarkets held a majority share in the overall market for facial serums in 2023. Supermarkets and hypermarkets offer affordable options for budget-conscious and convenience-seeking consumers. Some of these stores are even launching their own private label serum lines, competing with established brands
• Demand for luxury facial serums is expected to surge in the forecast period. Luxury serums, consisting of novel peptides, bioengineered actives, and rare botanical extracts, are pushing the boundaries of skincare science. Exclusive collaborations with artists, designers, and celebrities are anticipated to boost growth in this segment
• The Asia Pacific market for facial serum is anticipated to grow with the highest CAGR through 2030. This is due to factors such as increasing urbanization and busy lifestyles leading to a preference for convenient and easy-to-use skincare products such as facial serums

Factors boosting the use of facial serum include the aging population globally and rising awareness about the importance of protecting and maintaining healthy skin. Facial serums contain a high concentration of powerful ingredients such as retinol, hyaluronic acid, and vitamin C, among others, which offer targeted solutions for various skin-related concerns.

According to a 2021 survey conducted by the European Academy of Dermatology and Venerology (EADV), almost half (47.9%) of the European population over 18 years of age experienced at least one dermatological condition over the preceding 12 months. The most common skin condition reported was a fungal skin infection (9.07%), followed by atopic dermatitis (AD) (5.34%), alopecia (5.22%), and acne (5.49%). As a result of this, the demand for facial serums containing active ingredients is expected to grow significantly over the forecast period.

Manufacturers are investing heavily in research and development activities to create innovative, affordable, and eco-friendly clean-label skincare products that are highly effective in maintaining skin health. Consumers are increasingly seeking out skincare solutions tailored to their specific needs and concerns. Facial serums offer a targeted approach, with concentrated formulas that can address a range of concerns, from wrinkles and acne to hyperpigmentation and dryness.

Facial Serum Market Report Scope 

For example, in February 2021, Swissforce Pharma AG launched a new face serum that specifically targets fine lines and wrinkles. This newly launched serum contains a unique combination of 2% low molecular weight hyaluronic acid, collagen booster, retinol, collagen, and sweet iris stem cells. The serum helps to reduce the appearance of wrinkles and fine lines and restore skin resilience by re-densifying and firming the skin.  Such product launches help cosmetics companies redefine their product strategy and help them cater to consumers looking for skincare routines tailored to specific skin concerns and aspirations.

Advancements in skincare technology have led to the development of innovative serums with ethically sourced ingredients, technologies, sustainable packaging, and unique delivery systems. Encapsulation technology, for example, protects active ingredients from degradation and ensures targeted delivery for optimal efficacy.

For instance, in October 2023, Plum Goodness, an Indian 100% vegan and cruelty-free beauty brand, launched a new product line that includes hair care and beauty items such as face serums, creams, sunscreens, moisturizers, lipsticks, mists, and monsoon hair care products. It's 2% Encapsulated Salicylic Acid Face Serum contains pear extracts that are rich in amino acids and powerful antioxidants, which help boost skin elasticity and fortify the skin barrier.

Consumers are increasingly becoming conscious of the potential harmful effects of synthetic ingredients and are opting for serums formulated with natural alternatives.With an increase in disposable incomes, especially in emerging economies, consumers can invest in high-quality skincare products such as facial serums. This growth in disposable income has created new markets and opportunities for natural and organic skincare products.

List of Key Players in the Facial Serum Market

• L'Oréal S.A.
• Galderma S.A.
• Amorepacific Group Inc.
• KOSÉ Corporation
• Clarins Inc.
• Unilever plc
• Shiseido Company Limited
• Beiersdorf AG
• Estée Lauder Companies Inc.
• Revlon Inc.