'Significant' growth for cosmetics face sera
A new report by Allied Market Research (AMR) of Portland, Oregon, has concluded that the global cosmetics face serum market “is anticipated to grow significantly in the coming years”.
This will be driven more by factors like rapid urbanisation, changes in lifestyle, a rise in skin problems and awareness of daily skin care routines.
A face serum is defined as “an all-rounder product that has reduced the need for other skincare products such as normal face creams or moisturisers. Sera are popular among middle-aged people who wish to maintain their youthful appearance and have a higher level of active ingredients than face creams, enabling them to target specific skincare problems.
The COVID-19 pandemic hampered the market to some extent as face serum was not seen as “a mandatory product” by consumers when they were mostly at home. The temporary closure of production facilities also caused disruptions in supply chain logistics, impacting the supply of raw materials and vendor operations.
“Nevertheless, the lockdown is partially over now and daily skincare habits of people are back on track. Desire among consumers to feel fresh all day has influenced the key market players to focus on leveling up their production of face serum,” AMR said.