Swelling Demand for Natural Skin Remedies to push Herbal Beauty Product Market Growth to 6.1% CAGR for 2021-2031 | Future Market Insights, Inc.
Companies Profiled in global Herbal Beauty Product Market are Surya Brasil Organic Beauty Products, Weleda AG, INIKA, Lotus Herbals Limited, Bio Veda Action Research Co. (Biotique), Guangzhou Liwei Cosmetics Co Ltd., Dr. Hauschka, VLCC Healthcare Ltd., Hemas Holdings PLC, Herb labo Co. Ltd, The Himalaya Drug Company
NEWARK, Del., Aug. 1, 2022 /PRNewswire/ -- The global herbal beauty product market is anticipated to grow at a healthy CAGR of 6.1% for the forecast period of 2021 to 2031. Herbal beauty product market was valued at an estimated US$ 63 Bn in 2021. Heightened focus on healthy skin and hair and an upsurge in the demand for natural remedies are likely to foster growth in the herbal beauty product market.
Shifts in consumer preferences are responsible for a growing inclination toward organic and affordable skin and hair beauty products. Owing to the influence of social media, most consumers are better aware of the adverse effects of different synthetic ingredients used in beauty and cosmetic products.
Moreover, the rising demand for transparency about the ingredients used in beauty and cosmetic products has induced multiple leading labels in the market to shift to more organic products. All of these factors are expected to promote sales of herbal beauty products in the global market.
Furthermore, the drive to maintain a sustainable lifestyle is reasonably high among consumers all around the world. This includes beauty and cosmetic products, too, and has resulted in the opening up of many lucrative opportunities for herbal beauty products.
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More and more consumers are using naturally manufactured beauty products with ingredients like rosemary, lavender, chamomile, jojoba oil, aloe vera, etc. to treat skin, acne, and hair problems. Consequently, a large variety of herbal beauty products can be found in the market. Thus propelling market growth and expansion for herbal beauty products.
"With soaring competition, there's been a notable surge in the availability of a wide range of herbal beauty products in the global market. This will likely augment the sales of herbal beauty products for the forecast period," says an FMI analyst.
Key Takeaways:
- Availability of a wide range of products to boost market possibilities.
- Benefits of herbal ingredients and drive for sustainability are changing consumers' preference for herbal beauty products.
- Presence of pseudo products and expensive product lines will negatively influence the market over the forecast period.
- China is expected to present lucrative market opportunities in the East Asia region over the assessment period.
- Rising awareness of the benefits of herbal ingredients is expected to drive the U.S. market
- Favourable economic policies are expected to propel market growth in India.
- Demand in the herbal makeup segment is likely to surge over the assessment period.
- By product type, skin care segment will lead the overall market growth.
- Supermarket distribution channel is predicted to account for the highest market share with a significantly high CAGR through 2031.
Competitive Landscape
Surya Brasil Organic Beauty Products, Weleda AG, INIKA, Lotus Herbals Limited, Bio Veda Action Research Co. (Biotique), Guangzhou Liwei Cosmetics Co Ltd., Dr. Hauschka, VLCC Healthcare Ltd., Hemas Holdings PLC, Herb Labo Co. Ltd, The Himalaya Drug Company, Shahnaz Ayurveda Pvt. Ltd., GROWN ALCHEMIST, Shenzhen Panni E-Business Co. Ltd., and Arbonne International LLC among others are some of the major players in the herbal beauty product market that are profiled in the full version of the report.
In a highly competitive market, herbal beauty products market players are employing various tactics including product expansion and competitive pricing. Major market players are adopting novel strategies to gain an overall competitive advantage. Some of the premium brands are launching budget-friendly products, while more modest labels in the industry are working their way into the premium products category with the launch of novel beauty products, produced with exotic herbal ingredients.
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More Insights into the Herbal Beauty Products Market Report
In its latest report, FMI offers an unbiased analysis of the global herbal beauty product market, providing historical data from 2016 to 2020 and forecast statistics for the period 2021 to 2031. To understand the global market potential, growth, and range, the market is segmented based on product type (skin care (face cleanser, face wash, sun protection, night creams & gels, others (masks, creams), hair care (hair oils, shampoos, hair conditioners, others (hair serum, mask, color), bath & body care (body scrub, body lotion, soap, others), makeup, fragrance), consumer orientation (adults, kids), sales channels (hypermarket/ supermarkets, multi-brand stores, specialty stores, convenience stores, online retailing, beauty salons, others) and region.
According to the latest FMI reports, based on regional growth, China in the East Asia region will occupy a leading share in the global herbal beauty product market. The elevated use of herbal ingredients for their beneficial properties, especially by women, will likely augment market growth in this region.
In addition to this, the immense presence of multiple brands like Neutriherbs, Guangzhou Lichen Cosmetic Co., Ltd., Phaeton Industrial Co., Ltd., and others who are focused on expanding their product base to attract consumers and strengthen their market reach is expected to stir further market growth in this region.
The herbal beauty product market in North America is primarily driven by the growth of the U.S. market. Consumers in America are increasingly shifting their preference toward green and environmentally safe products. This fosters market growth for herbal beauty products in this region.
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Manufacturers focus on not only introducing new herbal products but also modifying their existing beauty care lines. Additionally, the growing demand for herbal beauty products in the U.S. is also because consumers are now better aware of the benefits of herbal products. Thus, the herbal beauty products market in the U.S. is propelling market growth in North America.
Apart from China and America, India, too, is predicted to register sustained growth in the herbal beauty product market. Favorable economic policies such as exemptions in direct tax and increasing FDI in retail e-commerce are expected to induce MNCs to increase their investment in the fast-moving consumer goods sector which in turn will likely have a positive impact on the herbal beauty products market in the county. Further, factors like rapid urbanization and increased disposable incomes will positively influence the herbal beauty product market in this region.
As per the latest study by FMI, based on product type, the skin care segment in the herbal beauty products market has been marked as the segment likely to experience the highest growth over the period of observation. The skin care segment is expected to remain dominant throughout the forecast period. Rising consumer preference for herbal ingredients to avoid skin and acne problems will likely supplement the market growth during the forecast period.
In the product type section, the makeup segment is estimated to witness a surge in demand all over the world during the forecast period. The growing makeup trend coupled with the influence exerted by social media has opened up new avenues for the herbal makeup products segment. Various key market players are also focusing on either developing this line of products or upgrading their existing product lines.
On the basis of distribution channels, the supermarket segment is estimated to account for the highest share while accounting for a considerably high CAGR through 2031.
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Global Herbal Beauty Products Market by Category
By Product Type:
- Skin Care
- Face Cleanser
- Face Wash
- Sun Protection
- Night Creams & Gels
- Others (Masks, Cream)
- Hair Care
- Hair Oils
- Shampoos
- Hair Conditioners
- Others (Hair Serum, Mask, Color)
- Bath & Body Care
- Body Scrub
- Body Lotion
- Soap
- Others
- Makeup
- Fragrance
By Consumer Orientation:
- Adults
- Kids
By Sales Channel:
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Multi-brand Stores
- Online Retailing
- Beauty salons
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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