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, as per a new report released by Million Insights. 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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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.
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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.
Million Insights has segmented the global natural cosmetics market on the basis of product, distribution channel, and region.
Natural Cosmetics Product Outlook (Revenue, USD Billion, 2015 – 2025)
• Skin Care
• Hair Care
• Color Cosmetics
Natural Cosmetics Distribution Channel Outlook (Revenue, USD Billion, 2015 – 2025)
• Specialty Stores
• Convenience Stores
Regional Outlook (Revenue, USD Billion, 2015 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
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