The organic skincare products market size has the potential to grow by US$ 3.2 bn during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
Technavio has released a report that provides a detailed analysis of the market by product (facial care, body care, and others) and region (APAC, Europe, MEA, North America, and South America). Also, the report analyses the market’s competitive landscape. It offers information on several market vendors, including Beiersdorf AG, Johnson & Johnson, LOreal SA, Natura &Co, Shiseido Co, The Clorox Co, The Estee Lauder Companies Inc, The Procter & Gamble Co, True Botanicals and Unilever Group.
Market competitive analysis
The market is fragmented. Beiersdorf AG, Johnson & Johnson, and LOreal SA are some of the major market participants. Although a huge demand for multifunctional products will offer immense growth opportunities, the availability of counterfeit products will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this organic skincare products market forecast report provides a detailed analysis of the market leaders. It offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this organic skin care product market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
Consumers are opting for chemical-free skincare products, which are formulated using organic and unique ingredients. Face cream products include skin brightening cream, anti-aging cream, and sun protection cream, which are used for repairing the skin and reducing wrinkles. This segment is expected to have a positive market outlook due to the growing number of point of sales across the world, such as hypermarkets, supermarkets, and department stores, which in turn, will boost the sales of these products.
Market growth in this segment will be slower than the growth of the market in the bodycare segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the organic skincare products market size.
North America will offer several growth opportunities to market vendors during the forecast period. The increasing awareness of innovative organic personal care products and the rise in the disposable income of the consumers will significantly influence the growth of the organic skincare products market share of this region.
34 per cent of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for organic skincare products in North America. Market growth in this region will be slower than the growth of the market in APAC.
Key drivers and trends
There is a huge demand for multifunctional organic skincare products as these products offer multiple benefits, such as moisturising the skin along with reducing dark spots and tanning. These combination products are designed to provide a quick solution to all the skincare needs of the customer. For instance, Garnier has introduced anti-aging BB cream, which is an all-in-one purpose cream that acts as a serum, moisturiser, primer, foundation, and sunblock to give consumers a youthful, bright, and even skin tone. Also, most vendors are focusing on products with both hydrate and antioxidants to cater to the growing demand. Blemish Balms (BB) and colour correcting (CC) creams are popular among consumers as they provide both cosmetic as well as skincare benefits. The growing demand for multifunctional products will have a significant influence on the growth of the organic skincare products market during the forecast period.
There is a growing shift towards green cosmeceuticals, one of the critical organic skincare products market trends, as it provides natural alternatives to classical cosmeceutical treatments. Consumers are opting for products that do not have chemicals, leading to the rising demand for natural and organic skincare products. In North America, skincare brands are adopting green cosmeceuticals and feature elements, such as pharmacy association packaging and free from claims. As a result of such factors, the organic skincare products market will register a CAGR of over 11 per cent.
