SAN JOSE, Calif., June 11, 2018 (GLOBE NEWSWIRE) -- According to the latest report published by Credence Research, Inc. “Global Natural and Organic Personal Care Market - Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global natural and organic market accounted for US$ 11,504.9 Mn in 2017, expanding at a CAGR of 11.1% from 2018 to 2026.
Market Insights
The global natural and organic personal care market was pegged at US$ 11504.9 Mn in 2017 growing with a CAGR of 11.1% during the forecast period from 2018 to 2026. Natural and organic personal care products contain certified organic ingredients and are basically derived from natural ingredients and plant extracts. Varying climatic conditions followed by shorter life cycles of organic and personal care products, and dynamic attributes of personal care manufacturers to keep pace with growing market demand; manufacturers are focusing on launching, marketing and presentation of innovative natural and personal care products that in turn is expected to propel the market demand during the forecast period.
Rising number of natural and organic personal care products with herbal extracts and antioxidant properties is also fueling the growth of this market. The market is projected to grow at a consistent rate owing to the increase in shelf space and retail stores globally. Moreover, increasing number of aging female population followed by increased purchasing power of women aged twenty-five and above is also expected to drive the demand for various anti-aging products that includes moisturizers, creams, and anti-hair fall products. However, owing to fluctuating price of raw materials, cost–intensive product certification process followed by labor intensive production processes, these products are premium priced and are costlier than synthetic personal care products which in turn is expected to restrain the growth of natural and organic personal care market during the forecast period.
The overall natural and organic personal care market is segmented based on product type, distribution channel and geography. In 2017, in terms of product type, hair care segment dominated the global natural and organic personal care market with around 30 % value share and projected to maintain its dominant position throughout the forecast period. Trend shows that manufacturers are focusing on using organic ingredients in hair care products that includes coconut, marula, argan, and almond among others owing to the rising awareness of consumers related to the wide usage of harmful chemicals used in hair care products. This factor expected to drive the demand for hair care segment during the forecast period. By distribution channel, hypermarket/supermarket held the largest market share in 2017. Distribution through hypermarket and supermarket is a key success factor in natural and organic personal care market. The manufacturers are shifting to mainstream mass retailers that includes hypermarkets and supermarkets from niche distribution channel due to the increasing consumer demand for natural and organic personal care products. Hypermarkets such as Target Brands, Inc. and Walmart Stores, Inc. followed by supermarkets that includes Safeway Inc. and Loblaw Companies Limited are focusing on expanding their product portfolio and introducing innovative natural and organic personal care products in their current product portfolio. All these factors are expected to boost the demand for hypermarket /supermarket segment during the forecast period.
By geography, North America held the largest share in the global natural and organic personal care market followed by Europe and Asia Pacific. Consumers’ expanding interest in wellness that includes self-care and nutrition is the prime factor augmenting the demand for this market. In addition, presence of large conglomerates in this region that includes Procter and Gamble and the Estée Lauder Companies Inc., among others is also acting as a driving factor in the growth of natural and organic personal care market in this region. In 2017, Asia Pacific was the fastest growing region owing to the increasing demand and consumption of natural and organic hair care and skin care products in India and China. In addition, smart phone penetration followed by ecommerce is also boosting the demand for this market as consumers in this region are more inclined towards buying personal care products via ecommerce by using their smart phones.
Key market players in the global natural and organic personal care market include Loreal SA, Kao Corporation, Kiehl’s, Jonhson and Jonhson Consumer Inc., The Hain Celestial Group, Natura Cosméticos S.A., Estée Lauder Companies Inc and Procter and Gamble among others.
Browse Full Report With TOC, Figures And Tables @ http://www.credenceresearch.com/report/natural-and-organic-personal-care-market
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