Albany, NY -- (SBWIRE) -- 11/07/2016 -- The global organic personal care products market is immensely fragmented in nature and comprises top nine players constituting over 50% in the market in 2013, as per Transparency Market Research (TMR). Of these, Bare Escentuals led the market with a share of 7.90% in 2013, while companies such as Clorox (Burt's Bee), Estee Lauder (Aveda, Origins), Harvest Partners (Arbonne, Nature's Gate), and Hain Celestial Group (Jason Natural Products, Avalon, Alba) held a share ranging between 6% and 8%. There are no particular substitutes present in personal care product market as they have come up as substitutes used in place of conventional products

Rising Awareness about Hygiene and Personal Health to Fuel Demand for Skin Care Products

The global organic personal care products market is anticipated to touch US$15,693.7 mn in 2020, rising at a 9.30% CAGR between 2014 and 2020. In terms of product, the segment of skin care products emerged as the leading segment in the market for personal care products, on the basis of revenue, and is expected to lead the market in forthcoming years, expanding at a healthy 9.50% CAGR from 2016 to 2024. This is due to the rising awareness about hygiene and personal health and the growing concerns on skin care. The segment of hair care is poised to take the second position in the market and will expand at a CAGR of 9.30% between 2016 and 2024. New product introductions and growing channels of distribution are the main factors providing impetus to the development of the hair care segment. The segment of cosmetics is also a highly lucrative segment in this market.

Entry of Numerous New Multinationals to Boost North America Organic Personal Care Products Market

On the basis of geography, North America and Europe held a significant share in the market in the past. On the other hand, skyrocketing demand for organic personal care products in South Korea, India, China, Mexico, and Brazil have gained the manufacturers' attention. Still, the growth of this market in North America and Europe will remain high all through the forecast period. Of these, North America held a share of approximately 34.94% in 2013 and is predicted to maintain its superiority in forthcoming years. This region is predicted to rise at a 9.50% CAGR between 2014 and 2020. This is due to the entry of numerous new multinationals in this region which have introduced more visible and accessible products for consumers. On the other hand, Europe held a share of 28.90% in the market in 2014.

Organic personal care products emerged as the most swiftly developing product segment in the market and are rapidly being employed in place of synthetic personal care products. Organic personal care products are predicted to experience popularity owing to the increasing awareness amongst consumers about the hazards associated with the usage of harmful chemicals employed in synthetic personal care products. These harmful chemicals cause a number of diseases and hence the customers are more inclined on using organic personal care products.

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Short Shelf Lives of Organic Personal Care Products, a Road Block in Market Growth

"The increasing channels of distribution will also emerge as a key reason for the development of this market," says a TMR analyst. Mass merchandisers, drugstores, supermarkets, and club stores, etc. play a primary role in personal care products' distribution. On the other hand, short shelf lives of organic personal care products is a key factor impeding the growth of the market. In addition, owing to these products being premium, they are highly priced as compared to synthetic personal care products.

Nonetheless, a number of regulations are working in favor of the introduction of organic personal care products. This is a prime opportunity seen in the market, states a TMR analyst.