The global herbal beauty products market was valued at US$ 91.99 billion in 2016 and is expected to reach US$ 136.22 Billion by 2025, witnessing a CAGR of 4.71% over the forecast period (2017 – 2025), according to Herbal Beauty Products Market Report, by Product Type (Skin Care, Hair Care, Fragrance, and Others), by End User (Women and Men), and by Distribution Channel (Supermarkets, Hypermarkets, Online Stores, Specialty Stores, and Others) published by Coherent Market Insights. Herbal beauty products are made of herbs and other botanical extracts. Herbal beauty products are increasingly gaining popularity over synthetic products due to lesser side effects. This is expected to drive growth of herbal beauty products market. However, availability of advanced beauty treatments is expected to hinder the market growth.
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Key Trends and Analysis of the Herbal Beauty Products Market:
- Among product types, skin care segment accounted for highest market share in 2016. This is attributed to increasing awareness of use of herbal cosmetics to improve skin such as slowing aging process. Furthermore, increasing demand for skin care and hair care products is expected to drive growth of the segment. According to International Trade Administration, the global market for hair care and skin care products was valued at US$ 80,502.19 and US$ 117,058.39 thousands, respectively with an average growth of 2.88%, and 3.20%, respectively, in 2015.
- Online retail stores segment is the fastest growing distribution channel segment in 2016. This is owing to increasing popularity of online retail stores, owing to benefits such as convenience and various discount availability. According to India Brand Equity Foundation (IBEF), the revenue generated from online retail in India was US$ 15 bn in 2016 and is expected to increase by US$ 60 bn by 2020.
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Browse 460 pages, 180 market data tables* and 110 figures* on “Herbal Beauty Products Market” – Global forecast to 2025.
Key Takeaways of the Market:
- According to Coherent Market Insights’ analysis, Asia Pacific held the largest market share both in terms of value and volume in the global herbal beauty products market in 2016. Growth of the market is driven by increasing cosmetic and personal care spending in the region. According to U.S. Department of Commerce, International Trade Administration, the per capita annual spending on personal care and cosmetics in Japan and South Korea was valued at US$174 and US$171, respectively, in 2014. Furthermore, increasing inclination of consumers towards herbal and natural cosmetic products is another factors for growth of this market. For instance, to cater to increasing demand for herbal products in India, various companies such as Himalaya Herbals, biotique, VLCC, Patanjali, and Kama Ayurveda, are launching herbal and ayurvedic products. Also, foreign beauty product brands are also focusing on developing organic and natural products. For instance, in June 2016, L’Oreal launched its hair care product range made with natural ingredients under its Garnier Ultra Blends brand.
- Europe is expected to exhibit significant growth in global herbal beauty products market over the forecast period. Increasing demand for plant-based ingredients in cosmetics and rising trend of natural cosmetics is fuelling growth of the market. According to Cosmetic Europe, cosmetics and personal care industry in Europe was valued at US$ 94.13 billion in 2015 ,with Germany (US$ 15.89 billion) positioned as the largest market, followed by the U.K. (US$ 14.06 billion), France (US$ 13.94 billion), and Italy (US$ 12.10 billion), respectively.
- Key market players are focused on organic and inorganic strategies such as merger & acquisition and new product launches to enhance their business and product portfolio in the herbal beauty products market. For instance, in June 2015, Emami Ltd. acquired hair care business under Kesh King and allied brands to increase their business portfolio such as herbal shampoo, ayurvedic medicinal oil, and ayurvedic capsules.
- Key players operating in herbal beauty products market include Weleda AG, Bio Veda Action Research Co., Arbonne International, LLC, Vasa Global Cosmetics, Klienz Herbal Pvt. Ltd., The Himalaya Drug Company, Shahnaz Ayurveda Pvt. Ltd, Lotus Herbals Limited, and Hemas Holdings PLC.
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