The global natural cosmetics market is projected to grow
with a CAGR of 5.01% over the forecast years to reach USD 48.04 billion by
2025. The demand for
natural cosmetics is gaining traction among
millennials. This demand is driven by an increase in awareness about the
adverse effect of synthetic cosmetics is driving market growth. Moreover,
increasing research & development expenditure is expected to fuel the
growth further.
The
supermarkets/hypermarkets accounted for the largest share among all sales
channels with a total value of USD 13.67 billion in 2018. Convenience stores
held the second largest market share owing to the increasing number of such
stores across the emerging countries. On the other hand, the online segment is
expected to show a CAGR of 4.47% during the forecast years. Availability of a
wide range of natural cosmetics, easy purchasing options, doorstep delivery and
rise in e-commerce platforms are fueling the growth of the market. Moreover,
online channels offer verities of natural cosmetics products that are not
readily available through convenience stores.
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COVID-19 Impact Insights
Personal care products
including organic cosmetics market have witnessed a significant decline in the
demand owing to the outbreak of COVID-19. Owing to the pandemic, which started
in late 2019, cosmetic stores were forced to close following the strict imposition
of lockdowns, which, in turn, significantly reduced the sales of natural
cosmetic products. Although, online sales has witnessed significant growth
during the pandemic. However, customers are more inclined towards purchasing
these products from bricks and mortar shops. With the reopening of various
economic activities, cosmetic stores have been reopened. However, there are
witnessing considerably less customer turnout. Manufacturers can focus on
strengthening their online distribution channels along with the introduction of
cost-effective products to recover from the pandemic effect.
The skin care segment held
the largest market share with value USD 10.31 billion in 2018. It was followed
by hair care. Growing obsession among consumers about fair skin is the primary
reason bolstering the demand for this segment. Natural fragrance, on the other
hand, is expected to grow with a CAGR of 5.03% from 2019 to 2025. The demand
for natural fragrance without petrochemicals and other preservatives is on the
rise.
Europe held the largest
market in 2018 with overall market value stood at USD 13.06 billion in 2018.
The region is anticipated to continue its healthy growth over the forecast
period. Increasing demand for natural cosmetics products among millennials is
the prime factor supplementing the natural cosmetics market growth in this
region. The Asia Pacific, on the other hand, is set to grow with a significant
CAGR over the forecast duration.
Key players in the market
are L’Oréal SA, Weleda AG, Coty Inc., Bare Escentuals Beauty Inc. and Burt’s
Bees among others. These players are focusing on the introduction of new and
innovative products to stay competitive in the market.
Further key findings from
the report suggest:
• Fragrance products are
expected to grow with a CAGR of 5.03% over the forecast duration.
• Skin care held the
largest market share with over 30.22% in 2018. This segment is expected to
maintain a healthy growth rate over the forecast period.
• Europe accounted for the
largest share in 2018. The presence of key players in the region and rising
demand for natural cosmetics are driving this region.
• The market is fragmented
in nature, which makes it competitive. Leading players in the market are
AVEENO, Korres S.A, L’Oréal SA and Burt’s Bees among others.
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