NEW YORK, Nov. 28, 2018 (GLOBE NEWSWIRE) -- The global organic beauty product market is forecasted to increase from USD 14.8 billion in 2017, to USD 28.7 billion in 2024, registering the CAGR of 9.9 % during the forecast period. The growth of the organic beauty product market is attributed to growing demand for organic cosmetics with multiple benefits and harmful effects of chemicals which have led to various diseases such as cancer and skin allergies. Moreover, the increasing research & development activities along with growing per capita expenditure on health and hygiene products are stimulating the market growth.
The report segments the global organic beauty product market by product type (skin care, hair care, oral care, makeup, perfumes, toiletries, deodorants and others), by distribution channel (retailer store and online store), by gender (female and male), by region (North America, Europe, Asia-Pacific, South America, Middle East and Africa (MEA)). The report studies the global organic beauty product market over the forecast period (2018-2024).
Organic beauty products primarily consist of certified organic ingredients coupled with various medicinal benefits and no or minimum side effects that meet private standards. Stringent government regulations especially in developed countries have enforced the companies dealing in beauty products market to introduce organic products over chemical beauty products. The report studies the global organic beauty products market over the forecast period (2018-2024).
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Key findings of the Organic Beauty Products Market
- The global organic beauty product market is expected to reach USD 28.7 billion by 2024, registering the CAGR of 9.9 % during the forecast period
- Skin care products was the largest growing segment in 2017, owing to health and beauty benefits coupled with increasing standard of living in emerging markets
- Hair care products is expected to be the fastest growing segment over the forecast period, owing to increasing hair fall problems and medicinal benefits of organic beauty products
- North America is the dominant organic beauty product market across the globe is expected to grow at the significant rate over the forecast period.
- The major key players include L’Oreal International, Avon Products, Estee Lauder Companies Inc., Procter & Gamble Co, Unilever Inc., Johnson & Johnson Private Limited, Revlon, Inc., Dabur India Limited, Burt’s Bees, Nails Inc., Benefit Cosmetics LLC, Chanel S.A, Hain Celestial Group Inc, and Lush Cosmetics, Maesa Group among others.
Organic Beauty Product Market- Market Expansion through E-Commerce
Organic beauty products market is expanding day by day at an exponential rate; increasing popularity of organic beauty products coupled with the easy availability through online stores and ecommerce portals has stimulated the market growth. Additionally, the increasing health awareness and benefits of organic beauty products have changed the lifestyles of young generation which are moving towards sustainable lifestyle.
Organic Beauty Product Market -Regional Insights
North America being the largest organic beauty product market across the globe is expected to grow at the significant rate over the forecast period. The growth of the market in the region is attributed to aggressive marketing strategies and increasing online sales of these organic beauty products. Moreover, the continuous innovations by cosmetics companies is also expected to drive the market growth in near future. Asia-Pacific and Europe being potential market offers ample opportunity for the growth of the global organic beauty product market, and is forecasted to witness significant CAGR over the forecast period (2018-2024).
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