Organic Skincare Products Market – Actionable Research on COVID-19 | Benefits of Organic Skincare Products to Boost Market Growth | Technavio
The global organic skincare products market size is poised to grow by USD 3.2 billion during 2020-2024, progressing at a CAGR of over 7% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Organic Skincare Products Market 2020-2024 (Graphic: Business Wire)
Prolonged use of synthetic cosmetics may cause various health issues such as irritation, hormonal imbalance, and toxicity. However, cosmetic products made of organic ingredients such as plant extracts and natural oils do not leave any harmful impact on the skin. This has resulted in a shift in the preference from synthetic skincare products over organic products among consumers. To capitalize on this growing interest, vendors in the market are introducing a wide range of organic skincare products made of plant-based and organic ingredients such as aloe vera extracts, sea salt, charcoal, shea butter, lanolin, jojoba oilseed, beeswax, and others. Some vendors are also including essential oils such as sandalwood, melaleuca, lavender, chamomile, helichrysum, and frankincense in their products. All these factors are contributing to the growth of the global organic skincare products market.
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- The major organic skincare products market growth came from the facial care segment in 2019. This is due to the increased demand for anti-aging products among consumers.
- North America was the largest market for organic skincare products in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to the rise in the number of online platforms that offer organic skincare products in the region.
- The global organic skincare products market is fragmented. Beiersdorf AG, Johnson & Johnson, L’Oreal SA, Natura &Co., Shiseido Co. Ltd., The Clorox Co., The Estee Lauder Companies Inc., The Procter & Gamble Co., True Botanicals, and Unilever Group are some of the major market participants. To help clients improve their market position, this organic skincare products market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global organic skincare products market 2020-2024 is expected to have positive. As the pandemic spreads in some regions and plateaus in other regions, we continue to revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/organic-skincare-products-market-industry-analysis
Rising product awareness especially among millennials will be a key market trend
The millennial population is very fashion conscious and keeps themselves updated about new product launches in the market. The emphasis on personal wellbeing, styling, and grooming has also increased among men, which has made them more beauty and image-conscious. This has encouraged many players to offer a varied portfolio of products exclusively for men such as detoxifying clay mask, exfoliating clay mask, and facial cleansing oil. Moreover, the rising disposable income of the millennial population has increased the consumer spend on high-quality skincare products. These factors are positively influencing the growth of the global organic skincare products market.
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Organic Skincare Products Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist organic skincare products market growth during the next five years
- Estimation of the organic skincare products market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the organic skincare products market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of organic skincare products market vendors
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View market snapshot before purchasing
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Facial care – Market size and forecast 2019-2024
- Body care – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by Product
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Beiersdorf AG
- Johnson & Johnson
- LOreal SA
- Natura &Co.
- Shiseido Co. Ltd.
- The Clorox Co.
- The Estee Lauder Companies Inc.
- The Procter & Gamble Co.
- True Botanicals
- Unilever Group
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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View source version on businesswire.com: https://www.businesswire.com/news/home/20201002005046/en/