The hair thickener serum market is projected to rise to a value of US$ 1.2 billion in 2023 and to have a CAGR of 8.5% from 2023 to 2033 to reach US$ 2.72 billion by 2033.
With optimistic growth in the demand for personal grooming products, growing demand for hair products especially among male, and money spent by hair thickness serum producing companies in order to create awareness among the public for preventing hair from malnutrition are some of the factors propelling the growth of hair care products in the near future.
Demand for “Natural” is propelling the Market
Consumer inclination towards “natural” alternatives to hair care has become quite obvious over the past few years. !is coincides with the eco-friendly and organic beauty brands.
- Consumers are now preferring natural alternatives over synthetic formulations.
- The leading hair thickener serum brands are foraying into production of herbal compositions, dismissing any toxic or chemical intervention within the product composition.
Novel herbal ingredients are being incorporated into a range of natural skin and hair applications for cosmetic as well as therapeutic benefits.
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How Counterfeit Products Pose Threat to the Market Growth?
Counterfeit products in the hair care industry pose a serious threat to the safety as well as trust of customers in the market. Further, there has been ascend in the counterfeiting of hair care products in recent years. Counterfeit Products with similar packaging have made it difficult to discriminate between fake and original products.
Moreover, the cases of fake hair care products including hair thickener serum causing allergic reactions, hair fall problems, and among others have also increased in recent years. Hence, place of sale, price, trademark, and packaging are considered crucial points that segregate counterfeit products from original products.
In addition, stringent regulations have been introduced in the hair care industry that helps to differentiate original products from counterfeit products. Anti-counterfeiting groups are also being formed to fight against counterfeit products in the hair care industry.
US and Canada Hair Thickener Serum Market Outlook
The US is one of the most dominant country in the hair serum market. According to a report by National Alopecia Areata Foundation, in 2018, nearly 6.8 million people in the United States were affected by Alopecia Areata.
Further, with an increase in awareness about personal grooming among males has resulted in an increase in the market share of hair treatment products which has resulted in popularity of hair thickness serum among the generation of every group especially in the aging group in the US market.
Europe Demand Outlook for Hair Thickener Serum
In Europe, the percentage of hair damage problems among individuals has been increasing over the past few years. Hair damage due to a lot of chemicals used in hair styling products and environmental pollution, hair thickness serum has been proved as an effective natural way to strengthen hair and providing them essential serums, now slowly these serums are becoming normal hair products.
Further, the availability of natural serum and a mix of old traditional home remedies in hair thickness serum has been the major reason behind these serums to capture the European market.
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