New York, USA, Aug. 21, 2023 (GLOBE NEWSWIRE) -- Clean Beauty Market Overview
Market Research Future (MRFR) 's report highlights “Clean Beauty Market Information By Product Type, Form, Consumer Group, End User, Distribution Channel, and Region - Forecast till 2032"; the market will achieve USD 34.8 Billion in 2032 at a 14.62% CAGR.
Market Synopsis
The increasing number of working women in various age groups and areas has led to an increase in the use of clean beauty, which has in turn led to an increase in sales and ultimately contributed to the expansion of the market. For instance, 57.4% of all women participated in the work force in 2019, according to the U.S. Bureau of work Statistics.
This was an improvement from the 57.1% who participated in 2018, but it was still 2.6% points behind the peak of 60.0 percent in 1999. In contrast, the rate of men participating in the labour force in 2019 was 69.2%, barely changing from the year before and 17.4 percentage points below its all-time high of 86.6% in 1948. The employment market saw major shift as a result of the huge rise in women's labour force participation throughout the second half of the 20th century. Women's overall labour market involvement increased dramatically from the 1960s through the 1980s before declining in the 1990s. Women's involvement in the labour force began to gradually decline at the beginning of the twenty-first century, and it most recently reached a low of 56.7 percent in 2015.
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Report Scope:
| Report Attribute | Details |
| Market Size 2032 | USD 34.8 Billion |
| CAGR | 14.62% (2023-2032) |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, Form, Consumer Group, End User, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The growing women working population across different age groups from different regions has increased |
Key Companies in the Clean Beauty market includes –
- L'Oreal S.A
- Clean Cosmetics
- Estée Lauder
- Inika Organic Australia
- Avon
- The Honest Company, Inc.
- Zuii Organic
- RMS Beauty
- Juice Beauty
- Ere Perez
Women's participation in the labour market has undergone some important changes over time. In the labour force between the ages of 25 and 64, the proportion of women who had a college degree doubled from 1970 to 2019, whilst the percentage of males with a college degree hardly grew. Women, for example, have become substantially more likely to pursue higher education. Nowadays, women are more likely than men to hold year-round full-time jobs. Today, there are significantly more women with children working.
Women's wages have also grown through time as a proportion of men's earnings: in 1979, women working full-time earned 62 percent of what men earned; in 2019, that proportion jumped to 82 percent.
The baby-boom generation—those who were born between 1946 and 1964—have only recently begun to retire in considerable numbers, which has resulted in a fall in their labour market participation rate over the past eight to ten years. As a result, the number of women working has increased, which will further raise demand for clean cosmetic products.
Segmentation
Based on product type, the Clean Beauty Market is segmented into face care, skincare, lip care, fragrances, hair care, nail care, and dental care.
Powder, liquid, and gel are included in the segmentation of the clean beauty market based on form. In terms of revenue from the Clean Beauty Market in 2022, the powder category held the biggest share.
Gen X, Gen Z, millennials, and baby boomers are all included in the Clean Beauty Market segmentation based on consumer group.
Men, women, and children are all included in the end user segmentation of the clean beauty market. In terms of revenue from the Clean Beauty Market in 2022, the women's market held the lion's share.
According to distribution channel, the Clean Beauty Market is segmented into supermarkets and hypermarkets, convenience stores, specialty shops, internet retailers, and others.
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Regional Insights
The market is divided into North America, Europe, Asia-Pacific, and the Rest of the World based on region. In 2032, the North Clean Beauty market was worth USD 8.42 billion, and during the research period, it is anticipated to grow at a CAGR of 11.24%.
During the projected period, North America is anticipated to account for the greatest market share in the clean beauty sector. This is largely due to the region's leading companies' increasing innovation rates.
The second-largest market share in 2022 belongs to the Clean Beauty market in Europe. This is mostly due to the growing number of promotional activities taking place in the area to assist the clean beauty market in the next years. As a result, the objective of Clean Beauty in London, a unique professional event, is to motivate and bring together suppliers and cosmetics manufacturers in order to collaboratively create tomorrow's clean beauty trends. The whole beauty sector, including skincare, makeup, haircare, body care, and toiletries, has been transformed by the powerful and previously unheard-of phenomenon of clean beauty.
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Ingredients, production processes, formulas, and packaging have all been impacted. To compete in a booming market with numerous intricate requirements, it had become essential to be able to bring the entire beauty community together around this concept. Additionally, the UK Clean Beauty market had the quickest rate of growth in the Europe region, and the Germany Clean Beauty market had the largest market share.
From 2023 to 2032, the Asia-Pacific Clean Beauty Market is anticipated to expand at a CAGR of 10.21%. Its market growth will be aided by customers' growing desires for clean products among men, women, and children. Additionally, a large number of foreign businesses have expanded in the Asian market. Additionally, the Asia-Pacific region's Clean Beauty market in Japan was expanding at the fastest rate, while the Clean Beauty market in China had the greatest market share.
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USD 34.8 billion by 2032
