The global natural skin care products market size is expected to secure a market value of US$ 13.4 Bn during the forecast period. The projected market growth is around 6.5% during the forecast period from 2022 to 2032. Increasing awareness about the adverse impact of using chemicals on the skin is the key factor driving the demand for natural skin care products.
With the outbreak of COVID-19, there has been a disruption in the supply chain due to the globally imposed lockdown, which brought a negative impact on the market.
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Consumers prefer beauty and cosmetic goods that are chemical-free and honest about their ingredients, which is anticipated to fuel demand for natural skin care products. Young people are predicted to respond positively to rising celebrity involvement in the promotion of sustainable beauty products.
Trending online articles, product launches, and celebrity endorsements are all popular among millennials who spend a lot of time online. Influential figures such as Hailey Bieber, who promotes bareMinerals, and Jessica Alba, who co-founded The Honest Company, have endorsed the brand. These brand releases and innovations are projected to add to the market’s growth.
Natural Skin Care Products Market Dynamics:
Innovative, environmentally friendly product packaging that can be recycled and refilled is required. Consumers are increasingly concerned about their health while purchasing skincare products, and they want to utilize environmentally friendly options. Consumer preferences have evolved to vegan components generated only from plant-based goods as animal rights awareness has grown.
Young people are predicted to respond positively to celebrities’ increasing participation in marketing natural beauty products. Online trending stories, new product debuts, and celebrity endorsements are popular among millennials who use the internet. Influential celebrities like Jessica Alba and Miranda Kerr have launched a natural cosmetics line to provide ethical skincare goods, consumer-centric private equity as a natural product with a potential future demand.
The increased number of new and start-up enterprises in the natural skincare industry has resulted in more cheap and innovative product lines becoming available on the market. Large consumer brands are exploring introducing natural skincare products for regular use, with the goal of gaining long-term market acceptance. Throughout the projected period, these factors are expected to fuel market expansion.
The Internet and social media platforms have also aided in the growth of natural skin care product sales. Millennials that spend a lot of time on social media have become big buyers of personalised products, which are largely sold through social media. Many celebrities have developed their own lines of natural and ethically produced products, and social media influencers have paved the way for natural skincare product start-ups to enter a quickly growing market and take advantage of an equally evolving sales channel.
Competitive Landscape
To increase market size, key players in the global natural skin care products market use a variety of techniques. Partnerships, acquisitions, and collaborations are some of the most popular strategies. The players are also contributing significantly to product innovation in order to expand their worldwide reach in the rivalry. The following are some of the most recent developments among the important players:
- In November 2021, Victoria’s Secret, a globally renowned name for offering women luxe inner wears, launched its first e-beauty commerce store in India
• In January 2022, The Body Shop launched its sustainable Body Butter. The new Body Butter is registered by The Vegan Society. It is made with 95% ingredients of natural origin.
• In January 2022, Procter & Gamble announced that it will buy Tula Skincare. It is the third acquisition in the span of 3 three months. The terms were not disclosed.
Key Players of the Market
- Mama Earth
- The Estée Lauder Companies Inc.
- Honest Co.
- The Body Shop
- The Clorox Company
- FOM London Skincare
- Bloomtown
- L’Oréal
- Procter & Gamble
- Unilever