Market Overview
Natural organic cosmetics market promises a potential growth in the near future. Organic products are drawing an intensive commercial attention owing to the changing tastes and lifestyle of the consumer. Today, consumers are becoming more and more alert about the goods they apply, use, or consume. It has become a challenge for the cosmetics marketers to align themselves accordingly.
An increased level of importance has been placed on the usage of organic and natural elements in cosmetic products, since the consumers are increasingly growing an inclination towards using natural products. It has been anticipated that the worldwide natural organic cosmetics market is likely to develop at a 9.60% CAGR over the forecast period from 2018 to 2023. As the customer base develops further in the upcoming years, the demand for organic cosmetics is likely to expand exponentially.
market segmentation
The global natural cosmetics market analysis has been segmented based on distribution channel, consumer group, and type.
By distribution channel, the market has been segmented into store based and non-store based. The store-based segment is expected to remain highly attractive throughout the assessment period. In 2017, the store-based segment reflected a valuation of USD 11,729.6 Mn. Store-based distribution channel includes convenience stores, supermarket/hypermarket, and others. Supermarkets/hypermarkets are the primary contributors to the sales of organic natural cosmetics.
By consumer group, the market has been segmented into female and male. The female segment has been anticipated to dominate over 2023. Currently, the segment has been projected to generate more than USD 10.6 billion holding a market share of over 70%. The female segment is the largest consumer of cosmetic products throughout the world. In fact, the most renowned cosmetics are focused on serving the female client base specifically. Hence, the female segment is considered extremely significant for the market's growth.
By type, the market has been segmented into hair care, skin care, make up cosmetics, oral care, and others. The skin care segment records for the highest market share. During 2017, the segment represented a worth of USD 4,933.5 million and has been expected to witness a healthy growth over the forecast period. Altering lifestyle collectively with the surge in customer's spending on personal care items in fast-developing nations is associated with the growth in the skin care products market. Additionally, increasing demand for clean brand items is impacting the industry's development positively.
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Regional Analysis
Based on region, the vegan cosmetics markethas been segmented into Africa, Europe, Latin America, North America, Asia Pacific, and the Middle East. North America is likely to dominate the global natural organic cosmetics market over the forecast period. Of late, the region represents over 34% share of the worldwide market in terms of value. The region has a favorable presence owing to the availability of a wide range of cosmetics products. Additionally, North America is increasingly becoming a key investment region for the market players. Although, Europe has a smaller market when compared to North America, the region can be identified as a lucrative market for major cosmetics brands in the near future. A substantial percentage of female customers in Europe has a preference for natural and organic items.
Key Players
The worldwide natural organic cosmetics market has been dominated by key players such as L'Occitance International SA, The Estee Lauder Companies, Inc., The Clorox Co, FANCL Corp., LOreal SA, Laboratoire Nuxe, Jurlique International Pty. Limited, Nature's Gate, Escentuals, Inc, Aubrey Organics, Inc., and Bare.
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