Global organic personal care products market was valued at USD 8,360.5 million in 2013, growing at a CAGR of 9.3% from 2014 to 2020 to account for USD 15,693.7 million in 2020.
Albany, NY -- (SBWIRE) -- 08/16/2017 -- Global Organic Personal Care Products Market: Snapshot
The use of natural, organic, and ethical labels has significantly increased in the organic personal care products market, impacting it favorably on the global front. After exhibiting considerable growth in the food and beverages industry, the practice of manufacturing organic products have penetrated into the personal care industry. Several nations around the world have introduced policies and guidelines encouraging the production of organic personal care products, thus providing considerable impetus to their market.
Changing lifestyle, the rising awareness, and availability of a wide range of products are key factors contributing to the market's growth. CAGR exhibited by the market through the course of the forecast period is expected to remain robust as concerns such as hair fall and skincare become widespread. While the demand for organic personal care product is expected to remain high worldwide, the opportunities witnessed across emerging economies is slated to be more lucrative.
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The report provides a comprehensive overview of the global organic personal care products market. It conducts Porter's five forces to gauge the growth drivers and market restraints influencing the market. The analysis also provides insights into the bargaining power of buyers and suppliers, threat from substitutes and new entrants, and degree of competition. SWOT analysis is also conducted to study the key companies and strategies adopted by them.
Demand for Organic Skin Care Products to Remain High Through the Forecast Period
Based on product, the organic skincare segment has emerged dominant in the market. The segment includes facial care, body care, ands sun care products. The increasing demand witnessed in the segment is mainly attributed to the rising consumer awareness regarding the side-effects of synthetic personal care products. The segment is gaining significant impetus from the launch of new products and the expanding distribution channel.
The hair care segment is projected to emerge as the second-leading segment in the market during the forecast period. The rising aging population, increasing concerns pertaining to hair fall, dandruff, and hair loss, and the demand for products enabling maintain youthful appearance are the key factors fuelling demand from the segment. The launch of innovative products aimed at resolving specific hair problems will further lead to the growth of the segment.
North America Emerges As Dominant Regional Segment
The global organic personal care products market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Among these nations, North America led the global market in 2015 and is witnessing rapid growth due to the increasing awareness about the benefits of organic products and following the entry of multinational companies thus making organic products easily available. Europe trailed North America in terms of exhibiting demand for organic personal care products, and is expected to remain a lucrative regional market for the same through the course of the forecast period.
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In Europe, France and Germany have emerged as the primary consumers of organic personal care products. In Asia Pacific, the market is expected to witness lucrative opportunities in Japan, which also expected to report the fastest growth among all domestic markets in Asia Pacific. The faith in natural and organic remedies is already ingrained in the Japan culture, therefore it has become easier for manufacturers to make their organic products acceptable among consumers in Japan. Furthermore, the market is also expected to witness considerably high demand in countries such as India and China.