The hair growth serum market size has grown robustly in recent years, rising from $1.58 billion in 2023 to $1.71 billion in 2024, with a compound annual growth rate (CAGR) of 8%. This growth is driven by rising incidence of hair loss and damage, increased awareness of hair health, economic development, disposable income growth, and advancements in organic and herbal products. The market is expected to continue strong growth, reaching $2.34 billion by 2028 at a CAGR of 8.1%. This future growth is attributed to the rising popularity of hair coloring and styling, expansion of professional hair care services, increasing demand for hair rejuvenation, a focus on hair health and appearance, and a preference for natural and organic hair care ingredients. Major trends in the forecast period include innovative hair serum formulations, advancements in organic and natural serums, innovation in hair styling products, improvements in hair care devices, and advancements in hair care products.
Global Hair Growth Serum Market Key Driver
The increasing incidence of hair loss is expected to propel the growth of the hair growth serum market going forward. Hair loss involves the partial or complete loss of hair from the scalp or other body parts, often due to factors like nutritional deficiencies, hormonal changes, genetics, and stress. Hair growth serums combat hair loss by nourishing the scalp, stimulating hair follicles, and promoting healthier hair growth. For instance, in March 2022, according to the Hair Society, hair loss affected about 21 million women and 35 million men globally. Additionally, in 2024, according to the National Health Service, approximately 8 million women and 6.5 million men in the UK are affected by hair loss, with over 650,000 hair transplants performed annually. Therefore, the increasing incidence of hair loss drives the hair growth serum market.
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Global Hair Growth Serum Market 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
By Geography:The regions covered in the hair growth serum market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
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.
Major Hair Growth Serum Industry Players
L'Oréal S.A., Kao Corporation, Wella AG, Revlon Inc, Aveda Corporation, Hims & Hers Health Inc., Lanza, Strength of Nature LLC, Vegamour Inc., iRestore, Artnaturals Co., Nutraceutical Wellness Inc., Kerotin Inc., Eufora International, Keranique, DS Healthcare Group Inc., BosleyMD, DrFormulas LLC, Nulastin Inc., Ustra LLC, Finally Hair, Luseta Beauty Inc., Pura d'Or, Briogeo Hair, TreeActiv
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Hair Growth Serum Market Overview
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 2023 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.
