Herbal Beauty Products Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Herbal Beauty Products Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The global herbal beauty products market is expected to register a CAGR of 6.5% during the forecast period (2022 - 2027).

During the COVID-19 period, the demand for consumer goods was halted by limited supply, followed by suppressed production of non-essential products during the lockdown. The scenario brought a definite restraining impact on the beauty products market, which was greatly offset by increased consumers’ preference for at-home, self-care rituals, especially among millennials. The inclination toward enhanced appearance and looks combined with increased adoption of herbal products among consumers are some of the factors that are anticipated to benefit the expansion of the herbal beauty products market across the global market in the forecast period.

There is an increasing demand for herbal beauty products, owing to the rising consumer awareness regarding the harmful effects of the chemical added to the beauty products. Moreover, beauty companies have been acquiring herbal beauty and personal care brands to expand the consumer base who are progressively passionate about clean, green, and herbal products.

The growing preference for chemical-free products, along with the rising popularity of environmentally-sustainable products, is driving the demand for herbal beauty products across the world. The increased demand for chemical-free hair and skin products, along with growing awareness about cruelty-free cosmetics products, is supporting the market growth. The significant rise in the influence of social media and beauty blogs that are communicating the benefits of herbal beauty products is likely to influence sales of herbal beauty products. Moreover, herbal beauty products are suitable for all types of skin, which is influencing the sales of herbal beauty products such as foundation, eye shadow, and lipstick which are appropriate irrespective of skin tone. The availability of the various types of herbal beauty products and improving distribution networks are playing a key role in driving the market growth.

The consumer inclination toward healthier lifestyles and the growing demand for products that have a low impact on the environment are driving the market growth. Furthermore, the growing acceptance of vegan lifestyles among millennials is likely to contribute to the growth of the market. Also, the increasing popularity of traditional Chinese ingredients in skincare products is also aiding the market growth among domestic consumers. Natural ingredients have become the top priority and concern in China. With the growing popularity of organic products, players are developing products with exotic ingredients. For example, facial masks that contain snail cream from China are gaining extreme popularity. Face masks that incorporate healing and anti-aging properties and organic ingredients, such as argan oil serum, green tea extract, and Vitamin C, are also gaining popularity. The key players are focusing on the environmental dimension of their strategies by creating sustainable partnerships with local vendors or providing information to their consumers about the origin and quality of their raw materials to meet consumer expectations. This approach is not only for the procurement practices but also for the packaging, which will change the market dynamics of the herbal beauty products market in the upcoming years.

The herbal beauty products market is fragmented with the presence of numerous players competing for major position in the market. The key players are adopting various strategies such as expansion, mergers and acquisitions, partnerships, and new product development to meet the growing demand. Some prominent players in the market are Arbonne International LLC, Weleda AG, Dr. Hauschka, Herbline, and Grown Alchemist.

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