The global Natural Skin Care Products Market size is expected to reach USD 17.40 Billion by 2028 at a CAGR of 5.5% over the forecast period, according to a latest report by Reports and Data. Key factors driving market revenue growth include increasing customer awareness regarding benefits of natural ingredients in skin care products. Rising environmental concerns, as well as harmful effects of chemicals on skin, has prompted a shift in customer preference towards skin care products that contain more natural ingredients. Skin care has been gaining focus due to climate change and air pollution and resultant effects on skin tone and conditions such as tanning and dry skin among others, and this has been resulting in an increasing number of customers seeking natural ingredients in products they prefer, and for products that are less likely to cause long-term damage to the skin.
In the coming years, growth of the natural skin care products market is expected to increase significantly. This is evident by a recent survey that showed that 75% of consumers prefer to purchase goods that have lower impact on the environment. Consumers are also more willing to pay for all-natural goods, according to 40% of respondents. It was also indicated that despite the higher price tag, customers are willing to pay premium price for items that prioritise wellness.
The Internet and social media platforms have also contributed to growth of the natural skin care products market. Millennials, who spend considerable amount of time on social media platforms are transforming these channels into a consumer base of customised goods, which are often marketed on social media platforms and channels. Many celebrities have launched their own product lines of natural ingredients, and social media influencers have been opening-up avenues for natural skin care product start-ups to leverage emerging opportunities in a rapidly evolving market environment.
Preservatives are normally absent from natural skin care products. As a result, these products usually have a limited shelf life, which is significantly less than items and products that contain preservatives. Natural skin care products are deemed unfit or no longer safe for use once the expiry date has passed. Natural skin care items are typically costlier, but these are not always as successful in terms of sales volume as compared cheaper alternatives. This is a major factor expected to restrain market growth to a certain extent. In addition, shift towards more traditional techniques and natural ingredients and home remedies is another factor expected to impact market growth to a minor extent going ahead.
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Some Key Highlights From the Report:
- The mass segment accounted for significantly larger revenue share among the type segments in the market in 2020. A large number of manufacturers offering natural skincare products, which can be used on a regular basis while keeping product affordability in mind, is a primary factor boosting revenue growth of this segment.
- The facial caresegment accounted for larger revenue share in the market in 2020, which can be attributed to rising preference for complex facial care routines among both men and women.
- Based on end-use, the market is segmented into men, women, and children. The women segment led in terms of revenue share in the market in 2020.
- In 2020, hypermarkets and retain chain segment dominated the other distribution channel segment in terms of revenue share. hypermarkets and retain chains deploy a strategy to provide natural and chemical-free categories to raise consumer interest and encourage a purchase decision from a range of products before buying.
- Europe dominated other regional markets in 2020. Consumers in countries such as the U.K., Italy, France, and Germany are well informed about benefits of natural skin care products, and prefer natural, herbal, and organic care for skincare routines.
- Asia Pacific is expected to register the fastest revenue CAGR as compared to that of other regional markets in the global natural skin care products market over the forecast period. Traditional Asian skin care routines have been gaining rapid popularity in countries across the globe, and the spa tourism trend in countries such as Thailand and others in the region is expected to support growth of the Asia Pacific market over the forecast period.
- Some prominent players in the global natural skin care products market include Procter Gamble, Estee Lauder, Mama Earth, Unilever, Clorox Co., Honest Co., The Body Shop, Loreal, FOM London Skincare, and Bloomtown.
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Segments Covered in the Report
For the purpose of this report, Reports and Data has segmented the global natural skin care product market report on the basis of type, product, end-use, distribution channel, and region:
Type Outlook (Revenue, USD Billion, 2018 - 2028)
Product Outlook (Revenue, USD Billion, 2018 - 2028)
- Facial care
- Body care
End-use Outlook (Revenue, USD Billion, 2018 - 2028)
Distribution Channel Outlook (Revenue, USD Billion, 2018 - 2028)
- Direct Selling
- Hypermarkets Retail Chain
- Specialty Stores
Regional Outlook (Revenue, USD Billion, 2018 - 2028)
- North America
- Asia Pacific
- Central South America
- Middle East Africa (MEA)
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Key questions answered by the report
- Which regional market accounted for the largest revenue share in 2020?
- Which is a major factor expected to drive the growth of the global natural skin care products market?
- Which of the end use segments is projected to account for highest revenue share in the global market during the forecast period?
- What is the expected revenue CAGR for the global market during the forecast period?
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