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Cosmetic Serum Market Evolution From Concept to Global Impact
a month ago
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Cosmetic Serum Market Evolution From Concept to Global Impact

Cosmetic serum is a concentrated liquid filled with active and beneficial ingredients designed to nourish, hydrate, treat and improve the appearance of the skin. Serum is swiftly absorbed and provides instant hydration to the skin without feeling heavy or greasy. It helps reduce fine lines, wrinkles, dark spots and blemishes while promoting collagen production and evening skin tone. The global demand for multi-functional and result-oriented skincare products is increasing rapidly, fueling the growth of the cosmetic serum market.The global Cosmetic Serum Market is estimated to be valued at US$ 5.43 Bn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Opportunity: The opportunity to enhance skin appearance and complexion is expected to drive the growth of the cosmetic serum market over the forecast period. Consumers, especially millennials and generation Z, are more focused on preventing premature skin aging and emphasis clear, smooth and glowing skin. They are willing to spend more on high-performance skincare products that visibly improve the appearance of fine lines, pigmentation, acne scars and overall skin texture. The availability of serums infused with antioxidants, peptides, hyaluronic acid, vitamins and other natural active ingredients help to nourish, firm and brighten the skin for a youthful look. Moreover, the rise of digital and social media has made people more aware of evolving skincare trends, boosting their confidence and self-esteem. This in turn is anticipated to propel the demand for multi-benefit cosmetic serums in the coming years. Porter's Analysis

  • Threat of new entrants: The cosmetic serum market faces moderate threat from new entrants due to established brand names, availability of substitute products and requirement of large investments.

  • Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and presence of multiple established brands.

  • Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitute raw materials and buyers not dependant on few suppliers.

  • Threat of new substitutes: Threat from substitutes is moderate as alternative skin care products are available.

  • Competitive rivalry: High due to presence of major global players with strong brand names and wide distribution network.

  • SWOT Analysis

  • Strength: Wide product portfolio and strong brand image of major players. Innovation in formulations catering to specific skin concerns.

  • Weakness: High research and development costs. Dependency on performance of overall economy and disposable income levels.

  • Opportunity: Emerging markets offer huge growth potential. Rising e-commerce sales and growing skin care industry.

Threats: Stringent regulations regarding ingredients. Increase in counterfeit products. Key Takeaways The global cosmetic serum market is expected to witness high growth. The global Cosmetic Serum Market is estimated to be valued at US$ 5.43 Bn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030.

North America dominates the market currently due to high consumer spending and prevalence of dermatological issues. However, Asia Pacific is likely to grow at the fastest pace with China, India and South Korea emerging as major consumers. Key players operating in the cosmetic serum market are L'Oréal S.A., Estée Lauder Companies Inc., Shiseido Company, Limited, Procter & Gamble Co., Johnson & Johnson Services, Inc., Beiersdorf AG, Unilever PLC, The Body Shop International Limited, Kao Corporation, Colgate-Palmolive Company, Amway Corporation, Avon Products, Inc., Mary Kay Inc., Clarins Group, Coty Inc. Innovation and expansion in emerging markets will be the focus of these companies to achieve dominance in the lucrative global serum market.