Organic Skincare Products Market - Growth, Trends, and Forecasts (2023 - 2028)

Organic Skincare Products Market - Growth, Trends, and Forecasts (2023 - 2028)

The organic skincare products market is projected to register a CAGR of 8.72% over the next five years.

Skincare is an essential part of personal care. It includes everything from correction to prevention in the makeup process. The innovations and developments in the beauty industry promise to deliver improved products with a health-friendly touch. Makeup with skincare benefits has been prevalent in the market for quite a while now. Skin sensitivity and awareness about the harmful effects of chemicals and synthetic products are some factors driving the growth of the organic and natural skincare products market. Most of the consumer base tends to buy products with the terms natural or organic associated with them. They generally do not focus on the ingredients used in the product's manufacturing.

The presence of harmful chemicals in beauty and face creams can cause rashes and allergies because of skin sensitivity issues. Excessive use of makeup daily may cause wrinkles on the skin, and it becomes rough and loses natural hyaluronic acid. These are some factors increasing the preference for organic products containing less harmful chemicals and more benefits from natural ingredients. Although women's skin care products are abundant in the market, the demand for men's skincare products is also gaining traction with growing awareness. Environmental factors, like pollution and UV rays, can damage skin cells and causes acne. Organic products reduce acne and protect the skin from harmful UV rays. Such factors are expected to augment the growth of the organic skincare products market over the next five years.

Parabens are the most widely used preservatives in cosmetics and pharmaceutical products. Consumers are becoming more concerned about avoiding parabens as an ingredient in their skincare products as they have many side effects. They can disrupt hormones in the body and also cause skin irritation. With the growth of organic products, synthetic compounds like propylparaben and butylparaben are not considered safe. If a product is paraben-free, the label will typically show "free from parabens." Labels stating Isopropylparaben and isobutylparaben also indicate the absence of parabens. For the beauty industry, many categories still derive a significant share of sales from products with parabens and other undesirable ingredients. However, those categories are shifting to paraben-free skincare products. In January 2021, Renee Cosmetics launched premium face oils. the product is FDA- approved and claims to be crulty-free, paraben-free, and organic.

Asia-Pacific is one of the most diverse and dynamic markets in the cosmetic industry across the world in terms of many popular categories, such as skin care, sun care, hair care, color cosmetics, deodorants, and fragrances, which are the most commonly used in this region. Hence, the region remains a potential market for organic skincare products worldwide. The Asia-Pacific region is expected to witness the fastest growth during the forecast period. An aging population, increasing awareness of organic products, an increasing number of millennials and more working women are the driving factors for organic skincare in this region. The market players are also encouraging consumers to buy organic products through advertising and promotions. They are expanding their portfolios in the market considering the demand for it. For instance, in June 2022, a leading skin care brand Samisha Organic launched new skin care products in Indian market. The products include moisturizers, foot care creams, face wash, and hair & nail care creams. Also, with increasing investments toward branding and advertising organic skincare products in the region, this market is expected to flourish during the forecast period. Moreover, in Asia-Pacific, China dominates the market studied, followed by Japan, South Korea, and others.

The global organic skincare products market is highly competitive. It comprises regional and international competitors such as The Hain Celestial Group (Avalon Natural Products Inc.)​, L'Oréal SA​, Johnson & Johnson, and others. The major market strategies adopted by the companies are new product launches, agreements/partnerships, expansions, mergers, and acquisitions. Companies are adopting merger and acquisition strategies to utilize their respective key strengths, such as intense R&D activities, distribution network, and the development of new products to enhance the portfolio, capture the untapped markets and drive the organic skincare products market further.

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