Technavio Announces the Publication of its Research Report Global Facial Serum Market 2016-2020
Technavio recognizes the following companies as the key players in the global facial serum market: Beiersdorf, Estée Lauder, L’Oréal, P&G, and Shiseido.
Other Prominent Vendors in the market are: Amway, Avon Products, Burberry, Cadiveu Professional USA, Chanel, Chatters Canada, Clarins, Combe, Conair, Coty, Edgewell Personal Care, Henkel, Helen of Troy Limited, Johnson & Johnson, Kao, LVMH, Marchesa, Mary Kay, O Boticário, Revlon, Tom’s of Maine, Unilever, and World Hair Cosmetics (Asia).
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Commenting on the report, an analyst from Technavios team said: Innovation in packaging is one of the recent trends gaining traction in the market. The packaging of products plays a two-fold role of safeguarding the content and as a marketing tool to make the products stand out on a store shelf and allure consumers to choose the product. Some of the serums launched in 2015 that had innovative packaging were the dual-phase serum for Clarins Double Serum and IOMAs device for measuring hydration in the skin. The emergence of oil-based cosmetics is leading to innovations in packaging that enable deep formulations to be held and dispensed in a more effective manner.
According to the report, the rising sales of premium products and growing middle-class aspirational spending is an important driver contributing to this markets growth. The sale of premium skin care products is increasing globally, and this is encouraging manufacturers to expand their offerings, including facial serums, in the luxury segment. One of the factors driving the sales of these products is the high demand from the middle-income class population. Growing middle-income class aspirational spending in developing countries such as Brazil, Thailand, China, India, and Malaysia is helping to drive the sales of the global skin care market. The rising disposable income among the middle-class population is also encouraging the market to grow. The size of the middle-income class will increase further over the next 20 years starting from 2015 as three billion people are expected to enter the middle-income class during this period. Thus, the middle-income class will be the major target audience for skin care vendors, including facial serum manufacturers during the forecast period.
Further, the report states that the increasing number of domestic and niche brands is a major challenge this markets facing. Cost-effectiveness and consumer loyalty tend to elongate the product acceptance cycles of established vendors in the market. However, they face competition from several domestic and niche brands that are active in certain geographies and offer products that suit the specific requirements of consumers. As domestic brands are perceived to have better understanding of local consumers, their preferences, and their skin types and associated issues, they remain highly patronized causing many established brands to fight for shelf-space at major specialty stores, hypermarket, and supermarkets.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About Facial Serum
A cosmetic serum is usually a water-based, non-greasy, and intensive formula that contains a high concentration of active substances. Serums can also be oil-based but have an oil-free texture (owing to less concentration of oil in the formulation). The oil-free texture can help them to penetrate deeper. Serums get rapidly absorbed and have the ability to penetrate into deeper layers, together with its active ingredients, to moisturize and deliver added nutrients. Serums contain high concentrations of active ingredients, so are usually made to contain just a few active ingredients. Due to high concentrations of active ingredients, serums produce the desired results faster than other creams or similar products.
Technavios analysts forecast the global facial serum market to grow at a CAGR of 3.88% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global facial serum market for 2016-2020. To calculate the market size, the report considers the revenue generated from the retail and salon sales of facial serum products to individual customers in the global market.
The market is divided into the following segments based on geography:
Technavio’s report, Global Facial Serum Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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