The natural cosmetics market is set to grow almost 5 percent this year to reach US$36 billion, according to Future Market Insights.
The research company’s latest report, the Global Natural Cosmetics Market 2019-2027, found that the three key factors fuelling demand for natural cosmetics, which surpassed two billion units last year, were:
- Growing consumer concerns regarding the side effects of chemicals in cosmetics and toiletries
- Demand for natural ingredient percolating from food to non-food products including cosmetics and personal care
- Dissemination of knowledge regarding benefits of natural ingredients and increasing ethical consumerism
Confidently predicting that the natural cosmetics market will grow at 4.9 percent CAGR until 2027, Future Market Insights said that consumer preferences for organic and natural products is no longer limited to the food and beverages sector with “organic cosmetics sales surging in recent years”.
In addition, the company noted that household consumption of natural cosmetics is currently higher than “demand in salons and spas”.
“Sales of natural cosmetics in the household segment is likely to account for over two-third of the global revenues in 2019,” the company said.
Other key findings in the Global Natural Cosmetics Market 2019-2027 report, include:
Skincare and Hair care growth: “Skincare and hair care products are among the traditional products used for grooming and have witnessed significant evolution in formulations wherein plant-based and organic products are trending in the cosmetics and personal care industry. A combination of hair care and skin care products accounted for over half the natural cosmetics market revenues in 2018 and the status-quo will continue in the coming years.”
Unisex sales: “The sales of unisex natural cosmetics have spearheaded the market for many years. In 2019, the trend is likely to continue with the sales of unisex natural cosmetics expected to hold over one-fourth of the global revenues.”
Europe reigns: “Natural cosmetics sales in Europe continue to surge. The region’s love for natural plant-based ingredients combined with its efforts to promote sustainability is fueling the demand for natural ingredients. In Europe, demand remains concentrated in EU5 countries (Germany, France, Italy, Spain and the UK) where the presence of an extensive distribution network with a number of sales channels, the natural cosmetics market is attracting new consumers.”
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