Natural and Organic Cosmetics Market Insights
During the projected period (2023-2032), the Natural and Organic Cosmetics Market Size is expected to register a stellar CAGR of 9.49% and reach a valuation of over USD 85.47 Billion.
Today's generation is embracing the appeal of natural and organic cosmetics. Due to the dangerous chemicals found in other cosmetics with chemical content, people are highly attracted to these products. Cosmetics made with natural and organic ingredients often contain chemicals that irritate the skin and change the texture of the skin.
The demand for natural and organic cosmetics has increased as people become more aware of the damaging impact that chemicals have on the skin. People are now aware of the benefits of using cosmetics made with organic ingredients and are concerned about the condition of their skin. This is increasing consumer demand for natural and eco-friendly products.
Nowadays, cosmetic items are very popular since they may be used every day. The market is being driven by the desire to make it more natural and organic. Young women and millennials who support natural and organic beauty product start-ups are now greatly embracing the chemical-free products. The manufacturers are concentrating on the developments as a result of increased investment in research and development efforts and the rising popularity of natural products.
Regional Analysis
North America is anticipated to dominate the global market for natural and organic cosmetics during the prediction period. Currently, the region holds more than 34% of the global market share in terms of volume. The availability of a wide range of cosmetic products puts the nation in a favourable position. Industry players continue to view North America as their top investment target.
Even though Europe has a smaller market share than North America, major cosmetics companies will continue to monitor the region for the project's future. In Europe, a sizable portion of female consumers favour natural and organic products.
The APAC market, which is expected to grow rapidly throughout the research period, has a notable standing among other things. The prospective global market for herbal skincare products is still Asia-Pacific. During the projection period, the Asia-Pacific region is anticipated to see the quickest growth. The demand for organic skincare is being driven by the region's ageing population as well as a growing millennial population with more working women. The Asia-Pacific market has been dominated by China, with Japan and other countries following.
Market Segmentation
The natural and organic cosmetics market is segmented on the basis of type, consumer group and distribution channels.
The skin care industry has the largest market share. The market was valued at USD 4.93 billion in 2019 and is anticipated to develop strongly over the next several years. Sales of skincare products have increased in countries that are rapidly developing as a result of changing consumer spending patterns and an increase in personal care products. Additionally, the market's expansion is impacted by the clean label products' rising popularity.
It is expected that the woman will continue to rule until 2027. With a market share of more than 70%, the sector is currently valued at more than USD 10.60 billion. The majority of consumers of beauty products worldwide are women. In fact, a sizable portion of organic beauty products are made primarily for female consumers. Because of this, the female market segment is crucial to the expansion of the industry.
The store-based sector is predicted to remain quite popular during the evaluation period. In 2019, the value of the store-based category was USD 11,72 billion. The global market is anticipated to grow significantly over the forecast period, even though growth is also anticipated in the non-store-based segment due to growing customer demand for online shopping outlets for cosmetics and hair care products.
Key Players
The Este Lauder Companies, Inc. (US), Laboratoire Nuxe (France), Jurlique International Pty. Limited (Australia), LOral SA (France), The Clorox Co. (US), FANCL Corp. (Japan), L'Occitane International SA (Luxembourg), and Nature's Gate, Inc. (US) are a few of the major key players listed in the natural and organic cosmetics market.
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