The Global Organic Skincare Products Market- Growth drivers, Forecast & Recent Developments
The global organic skincare products market has been segmented based on Type (Facial Care: Cleansers, Moisturizers, Exfoliators/Facial Scrubs, Oils/Serums, Face Masks and Packs, Others, Body care: Body Lotions, Body Wash, Others, Others), by Distribution Channel (Supermarkets/Hypermarkets, Conveniences Stores, Specialist Stores, Online Retail Stores, Other Distribution Channels), by Region (North America, Europe, Asia Pacific and Rest of the World)
Introduction
The global organic skincare products market is a contributing segment of the global skincare market. From a top-down perspective, Strategy Here has analyzed the global skincare market as a parent market to set the context in which the global organic skincare products market will be analyzed.
The term ‘organic’ refers to how an ingredient is farmed i.e., it must be prepared and grown without pesticides, chemical fertilizers, GMOs, sulphates/parabens or antibiotics. However, just because the product is labelled ‘organic’ doesn’t mean it is 100% organic.
Skincare is an essential part of personal care. It includes everything, from correction to prevention, in the process of make-up. The innovations and developments in the beauty industry promise to deliver improved products that are sourced organically and are healthier for skin.
Table of Contents
Market Overview
The Global organic skincare products market is expected to grow to $7.2 billion by 2024.
Growth momentum is expected to accelerate during the forecast period with 8.6% CAGR.
The organic skincare products market is registering high market growth due to the awareness of harmful chemicals in skincare products and demand for natural products.
Asia-Pacific is estimated to be the second largest market by revenue and the fastest growing.
Key Trends
Consumers are becoming more concerned to avoid parabens as an ingredient from their skincare products.
Product accessibility has been increasing over the past few years owing to widening distribution networks of manufacturers and suppliers. There has also been a rise in the availability of these products in supermarkets, malls, and drugstores, which has contributed to increased accessibility.
Key Market Players
Bare Escentuals, Natura Cosméticos S.A., Burt’s Bee, Kiehl’s, The Body Shop, Estee Lauder, Yves Rocher Amway, Arbonne International, The Hain Celestial Group, Aveda Corp., and L'Occitane en Provence are the largest manufacturers of organic skin care products on global scale.
Rising product demand from different regions has led these major players to focus on new product developments by increasing their R&D investments. Manufacturers are also engaged in innovation of new skin-care products that contain a mixture of natural and organic ingredients, in an attempt to tap into new customer groups.
Growth Drivers and Challenges
Skin sensitivity and awareness about the harmful effects of chemicals and synthetic products are a couple of factors driving the growth of this market.
The growing concerns about the environment, as a result of the use of conventional cosmetic products is also a factor driving growth.
Brand loyal and novelty conscious users are more likely to demand organic and natural cosmetic products over synthetic products than price sensitive consumers.
High cost of organic ingredients drives up the price of skincare that uses these. This makes it inaccessible to the average price sensitive consumer.
Stringent regulations put forth by various regulatory bodies including the EU, FDA, and EPA to increase product shelf life is also expected to challenge the market growth over the forecast period.