Skincare Nutritional Serum Market Analysis

Skincare Nutritional Serum Market Analysis

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Based on type, the market can be segmented into oil serums, gel serums, emulsion serums, and others. In 2023, the gel serums type segment accounted for revenue of around USD 1.36 billion in the year 2023 and expected to reach around USD 2.27 billion by 2032. Traditional serums are emulsions, a mixture of water and oil held together by a compound called an emulsifier. The water and oil would separate like salad dressing without the emulsifier. Gels are water-based formulas that contain a thickener to give them a creamy consistency.
 

Gel serums are becoming the best sellers for most brands as customers appreciate the sensorial aspect that leaves no sticky tell-tale signs of applications. Gel formulations are lighter in consistency than some other skincare formulations and vehicles such as ointments. Gel serum is especially a preferred choice during hot and humid months. Gel serum have a more cooling effect than other formulations. Alcohol-based gel textures can be drying for those with sensitive or dry skin.
 

Based on consumer group, the skincare nutritional serum market is categorized into male and female. In 2023, female consumer group segment accounted for revenue of around USD 2.5 billion in the year 2023 and expected to reach USD 4.12 billion by 2032. For the broader category of skincare and beauty, the average woman leaves her home each day having used at least 16 facial care or cosmetics products and spends ~$200,000-$300,000 in a lifetime (or an estimated $250 per month) on skincare and cosmetic products.
 

On average, Americans spend $722 on their appearance, including skin care, each year, according to the Advanced Dermatology. Social standards and expectations about beauty and grooming, media influence, and personal preferences all have an impact on women's extensive usage of skincare products. Furthermore, advances in skincare technology, increasing knowledge of the significance of sun protection, and the availability of a diverse variety of skincare products tailored to different skin types and problems have all contributed to the growing popularity of skincare routines among women.
 

Asia Pacific dominated the skincare nutritional serum market with revenue of around USD 1.16 billion in the year 2023 and expected to reach around USD 1.98 billion by 2032. Rising consumer spending on skincare and rising demand for anti-ageing product in the countries like China, South Korea and Japan are the major contributor in the growth of market in Asia Pacific.
 

In South Korea, makeup, skincare, and plastic surgery have dominated social hierarchies. Young women in South Korea spend $700 a month on skincare. The market for skincare nutritional serum is also driven by the rising working women. According to the Japan Internal Affairs Ministry, the number of working women in Japan reached a record 30.35 million in 2022, marking an increase of 1.22 million from five years earlier. As per the National Bureau of Statistics China, 320 million women were employed as of 2022, accounting for 43.2 percent of the working population. Around 67.6 million female workers were employed by non-private enterprises in urban areas.
 

As a result, the factors such as rising consumer spending on skincare followed by rising demand for anti-ageing product and rising working women in countries like South Korea, Japan and China are anticipated to boost the market in Asia Pacific.
 

In terms of country, US is dominating the North America skincare nutritional Serum market with revenue of around USD 738 Million in the year 2023 and expected to reach around USD 1.19 billion by 2032. As per the Advanced Dermatology survey, average Americans spend $722 on their appearance, including skin care, each year.
 

On the other hand, market for skincare nutritional serum in Canada is growing at a noticeable rate of 5.3% CAGR. This growth is driven by rising disposable and consumer spending on skin care product. As per the MoneySense survey, nearly half of Canadians spend between $100 and $499 on skincare per year, with the remaining 40 per cent or so spending less than $99.
 

The Europe skincare nutritional serum market is expressing steadily growth with CAGR of 5.2% during 2023. The growing demand for personalized skincare is the primary factor contributing to the nutrition serum market growth in Europe region.
 

In terms of country, Germany is dominating the Europe market with revenue of around USD 155 Million in the year 2023 and expected to reach around USD 247 Million by 2032. Rising disposable income and consumer spending on beauty and skincare product are the main factor driving the market growth in Germany.
 

On the other hand, France is experiencing robust growth in skincare nutritional serum market with the CAGR of around 5.6% during the forecast period. his growth is driven by rising disposable and consumer spending on skin care product.
 

The Asia Pacific market is growing at fastest growth rate of around 6.2% with the market sharing of around 34% in the global nutrition serum market during 2023. Rising consumer awareness about importance of skin health and rising demand for anti-ageing product in countries like Japan, South Korea are the factor boosting the Asia Pacific market growth.
 

In terms of country China dominating with the overall market share of around 33% in the Asia Pacific skincare nutritional serum market. China's skincare industry has expanded rapidly in recent years, driven by rising disposable incomes, urbanization, and increased awareness among customers of skincare trends. Skincare nutrition serums are becoming increasingly popular in China, particularly among younger customers who become attracted to treatments that promise to brighten, anti-age, and nourish their skin.
 

On the other hand, India expressing fastest growth in rate of around 6.4% in 2023. This rapid growth primarily driven by rising disposable income and rising focus on personal grooming and wellness.