Growing Consumer Awareness And Rising Disposable Income Are Anticipated To Propel The Natural And Organic Cosmetics Market At A Healthy CAGR Of 9.49% From 2023 To 2032
Research Reports
Sep 08, 2023
Market Research Future Insights
According to market research future insights analysis, the global Natural and Organic Cosmetics Market is expected to register a CAGR of 9.49% from 2023 to 2032 and hold a value of over USD 85.47 billion by 2032.
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The Natural and Organic Cosmetics Market growth is blossoming due to the growing popularity of domestic companies offering less expensive products than their international competitors. The demand for natural and organic cosmetics has increased as people become more aware of chemicals’ damaging impact on the skin. People are now aware of the benefits of using cosmetics made with organic ingredients and are concerned about their skin condition. This is increasing consumer demand for natural and eco-friendly products. Nowadays, cosmetic items are very popular since they may be used daily. The market is 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 chemical-free products. The manufacturers are concentrating on the developments due to increased investment in research and development efforts and the rising popularity of natural products. The demand for natural and organic cosmetics has increased due to factors like rising disposable income, an increase in the number of working women, and accelerated urbanization. A faster product approval and government funding pace also foster a healthy competitive environment for industry participants. On the other hand, rising disposable income alongside an improvement in people’s living standards, rising beauty concern and increased efforts from numerous multinational corporations, changing consumer behavior, and a preference for purchasing cosmetics online will all contribute by creating enormous opportunities that will lead to the growth of the organic cosmetics market.
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Regional Analysis
North America dominated the market for natural-organic cosmetics in 2021. In nations that are rapidly developing, evolving habits combined with the. The availability of a wide range of cosmetic products puts the nation in a favorable position. Industry players continue to view North America as their top investment target. The growing emphasis on sustainability and the rise in popularity of organic color cosmetics have contributed significantly to the nation’s development. Customers in the U.S. are often willing to pay more for high-quality goods, which presents prospects for the sales of organic cosmetics.
Asia Pacific is expected to register lucrative growth in the market for natural-organic cosmetics. The need for organic skincare is driven by the region’s aging population and 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 global Natural and Organic Cosmetics Market has been segmented into type and consumer groups.
Based on product type, the market has been segmented into skin care, hair care, oral care, makeup cosmetics and others. The skin care segment accounted for the largest share of the market in 2021. Growing knowledge of the negative effects of chemicals on the skin, such as irritation and dullness, is one of the key reasons driving the market. The fact that skin care products are frequently used daily makes them popular. Demand for products is likely to rise in the coming years due to rising environmental concerns and growing consumer awareness of the advantages of natural products. On the other hand, the makeup cosmetics segment is anticipated to be the fastest-growing segment during the forecast period. Makeup is quickly replacing other daily activities for women around. Fresh, creative brands are introducing cosmetics and makeup items classified as organic. Major players are in charge of organic labeling and certification to meet the demands of consumers who are concerned about ingredients. To sell their products as fully organic, businesses are moving toward organic ingredients and packaging.
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Based on consumer groups, the market has been segmented into males and females. The female segment accounted for the largest revenue share in 2021 in the Natural and Organic Cosmetics Market. The majority of consumers of beauty products worldwide are women. A sizable portion of organic cosmetic products is made specifically for female consumers. Because of this, the female market segment is crucial to the expansion of the industry. Consumers worldwide are becoming more interested in natural, organic, sustainable, and vegan skin care products. The male segment accounted for the largest revenue share in 2021 in the market for natural-organic cosmetics. Increasing male awareness of grooming and skin nourishment has driven the demand. This has prompted producers to concentrate on male personal grooming products.
Key Players
Some of the key market players are The Estee Lauder Companies Inc, L’Occitance International SA, FANCL Corp, The Clorox Co, LOreal SA, Jurlique International Pty. Limited, Laboratoire Nuxe, Bare Escentuals Inc, Aubrey Organics Inc. and Nature’s Gate
Read Our Related Report –
Cruelty-Free Cosmetics Market Research Report Forecast Till 2030
Organic Personal Care Products Market Research Report Forecast to 2032
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