The global natural skin care products market size is anticipated to reach USD 16.06 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.0% from 2020 to 2027. Increased exposure to chemical beauty products has resulted in rising cases of allergies due to which people are refraining from buying such products and are shifting to natural skincare products.
Large-cap
beauty and cosmetic companies are investing in natural products division by
acquiring small firms or startups for expanding according to market dynamics.
For instance, in 2017, Loreal, a beauty and cosmetics company, acquired a
German natural beauty company, Logocos Naturkosmetik AG, which has a certified
product range made of plant extracts and natural ingredients. The major
offerings of the company are skincare, hygiene, body care, hair care, and
color.
Based
on type, the mass segment led the market and accounted for 60.5% share of the
global revenue in 2019. Customized solution offerings and new product launches
in the market place are some of the trending factors expected to boost the
segment growth. For instance, Forrest essentials, an Indian brand, offers
customization options for a skincare routine, such as skin cream, moisturizers,
and night pack, in which a skin quiz is presented and further the products are
recommended according to the customized details.
The facial
care segment led the market and accounted for 63.9% share of the global
revenue in 2019. Growing skin-related concerns including acne issues, dead
skin, open pores, and dull skin, mainly among millennial groups, have led to
the acceptance of natural skincare products. Many brands have been contributing
to this segment's growth and launching products for the same. For instance, in
April 2020, Tata Harper, a premium natural skincare brand, launched Water-Lock
Moisturizer for the face containing pomegranate enzymes and orange blossom
peptides.
The
COVID-19 (coronavirus) outbreak is likely to reduce the demand for natural
skincare products across the globe. Consumers have become more conscious of
their spending habits and tend to avoid premium products, such as organic and
natural, which is a major challenge for the market. It is also expected that
customers would avoid visiting retail stores and brick and mortar stores
post-pandemic as they are conscious about their health and avoid going to
crowded places. This might impact the sales of cosmetic products, including
natural skincare products.
Based
on end-use, the women segment led the market and accounted for 60.0% share of
the global revenue in 2019. Women are more conscious of their skin and overall
appearance, which leads to a preference for better quality products, which are
chemical-free and healthy for their skin. Moreover, the increasing involvement
of females in the working population globally has enabled them to spend on
natural beauty products due to an increase in disposable income, which is
driving the segment.
Europe
dominated the market for natural skin care products and accounted for 33.2%
share of the global revenue in 2019. Stringent regulations in the region
regarding the beauty and cosmetic products, such as NaTrue and COSMOS NATURAL,
which define the criteria natural companies must comply with to ensure
consumers that their products are genuine organic or natural cosmetics
produced, are contributing to the growth of the market.
E-commerce is
expected to witness the fastest growth over the forecast period. The rising
popularity of e-commerce channels among the manufacturers and high consumer
penetration has been driving the sale through this channel. In addition, an
increase in the number of natural products private sales websites, such as
nykaa.com, mamaearth.com, and wowshampoo.com, has been boosting the segment
growth.
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Natural Skin Care
Product Market Report Highlights
- Based on
type, the mass segment led the market and accounted for 60.5% share of the
global revenue in 2019. Technological advancement pertaining to the online
selling of beauty products is contributing to the segment growth.
According to Marketing Communication News report 2019, 56% of skincare
users are convinced by the use of Augmented Reality, chatbots, and
virtual advisors for their final purchase of skincare routine products
- Based on
end-use, the women segment led the market and accounted for 60.0% share of
the global revenue in 2019. The rising importance of natural skin care
product purchasing and growing per capita income of women workforce are
the key factors fueling the growth for this segment
- E-commerce
emerged as the fastest distribution channel in 2019 and is expected to
retain its pole position throughout the forecast period. The increasing
availability of a wide range of natural skincare products of different
brands, free delivery, and seasonal discount on e-retailer platforms are
among the major reasons driving the segment
- Asia Pacific
is expected to emerge as the fastest-growing regional market with a CAGR
of 5.3% from 2020 to 2027. Factors such as a growing preference for
natural skin care products among millennials and increasing disposable
income have been boosting the number of first-time buyers in the region,
which is expected to drive the market in the region.
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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, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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