Organic Personal Care Market is Expected to Register 10.7% CAGR by 2027
August 5, 2022
Reports And Data
Government regulations imposed over the use of natural ingredients as raw material for manufacturing.
NEW YORK CITY, NEW YORK, USA, August 5, 2022 /EINPresswire.com/ -- The global Organic Personal Care market is forecasted to reach USD 31.55 billion by 2027, according to a new report by Reports and Data. The main reasons driving the growth of organic personal care market will be a rising need for natural health products and cosmetics for skincare and hair care, coupled with environmentally friendly products that are free from those hazardous chemicals. Rising awareness regarding the harmful effects of chemical products among the educated class, especially ladies, that too prominently aged ones, will help increase the demand for natural beauty products. Increasing expenditure over the R&D department to manufacture cost-efficient products with the usage of available natural sources of raw material will further enhance growth. Moreover, these products are generally premium priced due to their attached psychological desire related to health benefits, which will further propel growth among populations with rising disposable incomes. As regions like US and Europe have populations possessing high disposable incomes, they are estimated to register the highest CAGRs.
The organic personal care market is witnessing a surge in demand because of the rising disposable income of people. In countries like US, the annual per capita income was USD 33,706 in 2018, and it rose to USD 45,646 in 2019, which will allow people to spend more on quality products compromising cost-efficiency. People in the present world are becoming highly competitive; therefore, they have become very conscious about their personalities. Hence looking young and fit has become a primary issue of concern. Such issues of looking dynamic will propel the growth of this market
The COVID-19 impact:
The organic personal care industry has witnessed a major decline due to the COVID-19 pandemic, but the impact in this industry has not been as severe as seen in other industries. Due to the corona pandemic, people have reduced discretionary spending, the consumer behavior has shifted towards safe and durable products which have a lower risk of automation contamination, and durable shelf lives that help in rationing of consumer supplies are expected to perform better in the near future. Improving supply lines by strengthening the E-commerce channel along with offering at-home wellness products, which are highly suited in this volatile business environment, are major points of concern for brands.
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Further key findings from the report suggest
• The main factors driving the growth of organic personal care market will be a rising need for natural health products and cosmetics for skincare and hair care, coupled with environmentally friendly products.
• Increasing expenditure over the R&D department to manufacture cost-efficient products with the usage of available natural sources of raw material will further enhance growth. The strict regulations imposed by the government over the beauty product industry will enhance growth.
• Moreover, the coronavirus has impacted this industry in a very different manner because the demand of some of its type segments like lip care, men's grooming, oral care have seen a great fall but segments like soaps, sanitizers, body wash have enhanced so rapidly that manufacturers are not able to fulfill customer despite robust supply procedure.
• Among the distribution channels, online retail stores are estimated to generate revenue of USD 12.18 billion in the forecasted period. This channel provides door to door services at a very reasonable price; therefore, it is forecasted to register maximum growth.
• North America is leading the market for the past 3-4 years, and the study further reveals that it will continue to dominate in the period of 2018-2027. There is an increase in the consumption of natural beauty products in Mexico on account of increasing awareness regarding the health benefits of these products. Products having ingredients like turmeric and neem are expected to have a great impact on the organic personal care market.
• The global market was led by the skincare segment in 2018. Rising anti-aging and skin concerns are major driving forces that influence consumer demand positively in this segment.
• Key participants include L'Oréal S.A., Aveda Corporation, The Estée Lauder Companies Inc., The Body Shop International PLC, Burt’s Bees, The Hain Celestial Group, Amway Corporation, Yves Rocher, and Natura Cosméticos S.A. among others.
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For the purpose of this report, Reports and Data have segmented the global Organic Personal Care market on the basis of type, ingredients, distribution channel, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
• Skin Care
• Lip Care
• Deodorant and Antiperspirant
• Bath and Shower
• Oral Care
• Men’s Grooming
Ingredients Outlook (Revenue, USD Billion; 2017-2027)
• Natural Surfactant
• Sugar polymers
• Natural Preservatives
• Active ingredients
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
• Online Retail Stores
• Specialist Retail Stores
Regional Outlook (Revenue, USD Billion; 2017-2027)
• North America
• Asia Pacific
• Latin America
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