Rising health concerns, and increasing awareness about harmful effects of chemicals in conventional cosmetics and benefits associated with organic cosmetics to drive global organic cosmetics market through 2021
According to a TechSci Research report, “Global Organic Cosmetics Market By Product Type, By Point of Sale, By Region, Competition Forecast and Opportunities, 2011 – 2021”, global organic cosmetics market is projected to register a CAGR of over 13% during 2016-2021.
Organic cosmetics are manufactured using organic ingredients and without the use of chemicals. Growth in global organic cosmetics market can be attributed to factors such as increasing skin diseases, rising disposable income, growing awareness among consumers, increasing focus on environment and animal welfare, widening distribution channel network coupled with increasing visibility and accessibility to organic cosmetics through retail outlets. Moreover, continuous product innovation is one of the biggest opportunities which is expected to influence the global organic cosmetics market in the coming years.
In 2016, growth in consumption of organic cosmetics has been witnessed globally, as governments across many countries are taking initiatives to promote and encourage use of organic cosmetics. Organic cosmetics are generally more popular among females, who accounted for more than 75% of the total organic skin care usage across the globe.
Additionally, governments in various countries have also laid regulatory, policy and safety legislations to improve quality of organic cosmetics. Rising standards of living and increasing personal disposable income has driven adoption of these cosmetics across the globe. As of 2015, global per capita income stood at USD10,845.
L’Oréal, Estée Lauder Inc., Avon, Revlon Group, are few of the leading players in the global organic cosmetics market, on the back of their wide range of product offerings, robust distribution network and huge consumer base.
Many key players are also focusing on expanding their distribution network to online channels, on account of increasing internet penetration. Total number of internet users across the globe stood at 3.19 billion, as of 2015. However, exclusive retail stores and supermarkets/hypermarkets are anticipated to continue dominating sales of global organic cosmetics market through 2021.
“Increasing pollution and unhealthy working lifestyles has driven adoption of alternatives such as organic cosmetics across the globe, especially among the youth. Younger generations prefer to use organic cosmetics, as it is free from high concentration of chemicals. Growing demand for organic cosmetics with multiple benefits claims such as anti-ageing, moisturizing and SPF protection is poised to boost growth in global organic cosmetics market. Moreover, companies are constantly advertising organic cosmetics on social networking sites such as Facebook, Twitter, YouTube and other websites such as Instagram, through beauty bloggers to increase brand awareness. All these factors are anticipated to boost adoption of organic cosmetics in developed and developing countries across the globe.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Find out more here: https://www.techsciresearch.com/report/global-organic-cosmetics-market-forecast-opportunities-2021/610.html
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