Global organic skin care market
is expected to reach USD 12.58 billion by 2022, according to a new report by
Grand View Research, Inc. Growing demand for organic face creams, sunscreens,
and body lotions among consumers is expected to have a positive impact on the
sector over the next seven years. Changing consumer perceptions towards organic
products coupled with growing utilization of environmentally sustainable
products is expected to fuel product growth over the next seven years.
Growing awareness toward
organic products, and changing lifestyle of consumers coupled with and rising
consumer disposable income is expected to fuel product demand over the forecast
period. In addition, increasing penetration of major players such as Reckitt
Benckiser and P&G through new product developments and launches in India,
Brazil and China is expected to promote growth over the next seven years.
Rising consumer awareness
regarding potential impact of organic skin care products on health and
environment has resulted in augmenting sales over the past few years.
Furthermore, reduced consumption of harmful chemicals including aluminum salts,
parabens and phthalates coupled with shifting to sustainable products by
numerous multinational corporations has contributed to the rise in product
consumption and trend is expected to continue over the forecast period.
In depth research report on Organic Skin Care Market
Further key findings from the report suggest:
•
Face creams was the fastest
growing product segment at a CAGR over 20.0% from 2015 to 2022. The segment is
expected to show high penetration due to rising increasing incidences of skin
disorders which has led consumers to switch from synthetic products to natural
products. Industry growth in Germany, France, and UK coupled with product
innovation by companies such as L’Oreal will increase product demand over the
next seven years.
•
Body lotion segment was
estimated over USD 1.0 billion in 2014. Increasing need for naturally quick-fix
skin problems that arise from pollution and environmental factors will have a
positive impact on the sector over the forecast period.
•
Europe was estimated over USD
750.0 million in 2014. Robust product manufacturing base in the UK, France and
Germany is expected to be a favorable factor for demand. European Commission
framed Horizon 2020 Strategy, with to promote consumption and production of
natural ingredients in chemical, personal care, automotive and energy sectors.
This is expected to have a positive impact on the industry over the next seven
years.
•
The global organic skin care
industry is highly competitive with large multinational companies dominating
the sector on account of increased expenditure on advertising and continuous
R&D. However, in 2014, numerous smaller companies have gained share on
account of increasing interest in natural beauty particularly in Europe and
North America. Furthermore, companies employ strategies such as joint ventures
and mergers & acquisitions to expand their global presence. In October
2013, multinational L’Oreal acquired The Body Shop and Kiehl’s to increase its
share in this sector.
Grand View Research has
segmented the global organic skin care market on the basis of product and region:
Organic Skin Care Product Outlook (Revenue, USD Million,
2012 - 2022)
•
Face creams
•
Body lotions
Organic Skin Care Regional Outlook (Revenue, USD Million,
2012 - 2022)
•
North America
•
U.S.
•
Europe
•
Germany
•
UK
•
Asia Pacific
•
China
•
India
•
Latin America
•
Brazil
•
MEA
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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