Organic skincare: Key market research findings
- North America dominates the market geographically
- Ongoing rise in the number of green cosmeceuticals
- Key vendors – Beiersdorf, Estee Lauder, L’Oreal, Shiseido, and The Clorox
Technavio’s market research analysts predict the global market for organic skincare products to grow at a CAGR of more than 10% between 2016 and 2020. The market’s growth can be attributed to the introduction of new formulations in organic skincare products. While most consumers stick to familiar brands, they also seek variety in terms of product offerings. As a result, many manufacturers have started to augment their R&D capabilities and have also started focusing on broadening their product portfolios. During 2015, the global organic skincare products market was dominated by North America with a market share of around 34%. The organic skincare products market in this region is fueled by factors such as the increasing demand for anti-aging products and the availability of a large number of skin care brands through various retail channels.
The new market research report from Technavio presents a breakdown and analysis of the organic skincare segments based on the product.
“Currently, the market is witnessing a rise in the number of green cosmeceuticals. They provide natural alternatives to traditional cosmeceutical treatments. Consumers are also becoming aware of chemicals present in their skin care products, thus, spurring the demand for natural and organic skin care products. The consumer’s purchasing decisions are influenced by products that claim to have natural or organic ingredients,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
By 2020, the organic face cream segment will continue its dominance over the global market for organic skincare products by accounting for almost 72% of the overall market revenue. Face cream products include skin brightening creams, anti-aging creams, and sun protection creams. These products are used to enhance skin quality, rejuvenate cells, prevent wrinkles, and brighten the skin. At present, consumers are also seeking products that are free from chemical ingredients such as petrochemicals, phthalates, parabens, sodium lauryl, and synthetic fragrances.
The key vendors in the global organic skincare market include Beiersdorf, Estee Lauder, L’Oreal, Shiseido, and The Clorox. A number of vendors are attempting to expand their businesses in emerging markets such as Central and South America and APAC. To succeed in this competitive environment, it is vital for vendors to differentiate their product and service offerings through a clear and unique value proposition.
A more detailed analysis is available in the Technavio report, Global Organic Skincare Products Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
