The world organic personal care and cosmetic products market is expected to reach $19.8 billion by 2022, registering a CAGR of 10.2% from 2016 to 2022, according to a new report published by Allied Market Research.
The report, titled Organic Personal Care and Cosmetic Products Market – Global Opportunities and Forecasts, 2015-2022, claims that “increasing interest towards beauty and personal care coupled with growing health awareness” are key drivers.
It says that the fact that organic personal care and cosmetics products are made from plant extracts and natural ingredients, as well as containing minimal or low amounts of synthetic ingredients, means products within this sector are perceived as being safer and more beneficial than conventional personal care and cosmetic products. Furthermore, encouragement from global government organizations to use organic ingredients over synthetic in cosmetic products is helping to supplement the market growth.
North America was reported to be the largest market, accounting for approximately 35% of the global market revenue, followed by Europe in 2015, with Germany, France and United Kingdom consolidating most of the market share. Asia Pacific is estimated to register the highest CAGR of 11.1% during 2016-2022. Skincare, hair care and cosmetics collectively accounted for nearly four-fifths of the global organic personal care and cosmetic products market in 2015.
The next wave of research and development, says the report, will be focused on the introduction of innovative products to continue to drive growth.
The report cited the key players in the global market included L’Occitane en Provence, L’Oreal International, Arbonne International, LLC, Burt’s Bees, Estee Lauder Companies, Amway Corporation, Oriflame Cosmetics SA, Yves Rocher, Weleda and Aubrey Organics.