What Is The Definition Of The Global Hair Growth Serum Market?
Hair growth serum refers to a topical product formulated with ingredients aimed at promoting and stimulating hair growth, used in hair care regimens to address issues such as thinning hair, hair loss, and to improve overall hair vitality. These serums are applied directly to the scalp and hair follicles to nourish, strengthen, and potentially increase hair density and thickness.
Hair Growth Serum Global Market Report 2024 provides data on the global hair growth serum market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The hair growth serum market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Are The Global Hair Growth Serum Market Size And Growth Rates Projected To Evolve?
The hair growth serum market has seen strong growth in recent years. It is expected to grow from $1.58 billion in 2023 to $1.71 billion in 2024, at a CAGR of 8%. This growth has been driven by the rising incidence of hair loss and damage, growing awareness of hair health, economic development, higher disposable incomes, the development of organic and herbal products, and an increase in hair care product development. The market is projected to reach $2.34 billion by 2028, growing at a CAGR of 8.1%. The factors driving this growth include the increasing popularity of hair coloring and styling, the expansion of professional hair care services, the rising demand for hair rejuvenation, growing focus on hair health and appearance, and the rising preference for natural and organic ingredients in hair care products. Major trends during this period include innovative formulations of hair serums, advancements in organic and natural formulations, innovations in hair styling products, advances in hair care devices, and the development of new hair care products.
What Are The Essential Drivers Behind The Growth Of The Hair Growth Serum Market?
The growing incidence of hair loss is supporting the expansion of the hair growth serum market. Hair loss, influenced by factors such as genetics, stress, and nutritional deficiencies, is a common concern globally. Hair growth serums promote healthier hair by nourishing the scalp and stimulating follicles. For instance, in March 2022, the Hair Society highlighted that hair loss affects 35 million men and 21 million women worldwide. Furthermore, in 2024, the National Health Service reported that over 14.5 million individuals in the UK experienced hair loss, with more than 650,000 hair transplants performed annually. Consequently, the increasing prevalence of hair loss is driving the growth of the hair growth serum market.
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How Is The Global Hair Growth Serum Market Divided Into Key Segments?
The hair growth serum market covered in this report is segmented –
1) By Type: Without Silicone, With Silicone
2) By Application: Online Store, Specialty Shop, Super market, Other Applications
3) By End Use: Men, Women
What Trends Are Reshaping The Future Of The Hair Growth Serum Market?
In the hair growth serum market, companies are developing rejuvenating hair serums aimed at promoting hair growth, combating hair loss, and enhancing overall hair health. Rejuvenating hair serums are specialized products formulated to improve hair condition and stimulate growth. For example, in February 2022, WETHRIVV, a US-based wellness company, launched REVIVV Hair Growth Serum, a drug-free, non-toxic topical serum designed to support hair growth and improve hair appearance. The serum was developed by physicians and scientists to enhance hair thickness and health and is recommended by dermatologists and stylists. It is available in various bundles for both men and women and is applied using a convenient roller device to facilitate effective delivery and absorption.
What Is The Fastest Growing Region In The Hair Growth Serum Market?
North America was the largest region in the hair growth serum market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hair growth serum market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
