The under eye serum market comprises serums that are specifically formulated to reduce the appearance of dark circles, fine lines, puffiness, and wrinkles around the under-eye area. Under eye serums contain active ingredients like peptides, caffeine, hyaluronic acid, vitamins C and K which help hydrate and brighten the delicate under-eye skin. The need to look well-rested and youthful is driving greater consumption of under eye serums.
The global under eye serum market is estimated to be valued at US$ 4.15 Mn in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the under eye serum market include Avella Specialty Pharmacy, Central Admixture Pharmacy Services, Fagron, Fresenius Kabi AG, PharMEDium Services, Institutional Pharmacy Solutions, Cantrell Drug Company,Triangle Compounding Pharmacies, Lorraine’s Pharmacy, Rx3 Compounding Pharmacy ,B Braun Melsungen AG, Clinigen Group PLC, QuVa Pharma, ITC Compounding Pharmacy, and Advanced Pharmacy. The increasing awareness about the benefits of under eye serums in combating signs of aging is fueling the demand.North America dominates the under eye serum market due to higher healthcare spending and consumer attraction towards anti-aging products.
The growing demand for effective anti-aging skincare products is a major factor driving the Under Eye Serum Market Size Consumers are increasingly using under eye serums to minimize the appearance of fine lines, wrinkles, dark circles and puffiness. Furthermore, busy lifestyles and high stress levels have also contributed to the demand as lack of sleep and fatigue often manifest in the form of dark under eye circles.
The rising influence of social media along with increasing adoption of K-beauty and J-beauty trends have also helped expand the global reach of under eye serums. New product launches featuring premium yet effective natural and herbal ingredients are helping boost popularity and trial among international consumers.
Market Key Trends
One of the key trends gaining prominence in the Under Eye Serum Market Size And Trends is the increasing popularity of gel-cream hybrid formulations. These serum-gel hybrids promise both the lightweight hydration of a serum and the nourishing benefits of a rich cream. They absorb quickly without feeling heavy or greasy under the eyes. Another trend is the rising demand for multi-tasking under eye serums that address dark circles, puffiness, fine lines and wrinkles together through a synergistic blend of active ingredients.
Porter’s Analysis
Threat of new entrants: Low investment needed for manufacturing an under eye serum, but established brands have strong presence with high consumer awareness and loyalty.
Bargaining power of buyers: Buyers have multiple options available from various brands and can easily switch to alternatives making individual buyer power relatively low.
Bargaining power of suppliers: Supplier market is fragmented with many ingredient suppliers which helps brands negotiate better prices.
Threat of new substitutes: Other skin serums and anti-aging creams can serve as substitutes but specifically targeted under eye serums have fewer substitutes due to focus on delicate under eye area.
Competitive rivalry: Branded segment has high rivalry with presence of many established international players. Unbranded market shows medium to high rivalry.
The geographical region where the under eye serum market is concentrated in terms of value is North America. Major markets like United States and Canada have high skincare penetration and awareness about anti-aging products contributing over 35% of the total market value currently.
The fastest growing region for the under eye serum market currently is Asia Pacific excluding Japan. Markets like China, India, South Korea and other Southeast Asian countries are witnessing rapidly changing lifestyles and growing working women population who are inclined towards youthful appearance.
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
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