The global organic skincare products market size is poised to grow by USD 3.2 billion during 2020-2024, progressing at a CAGR of over 7% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Organic Skincare Products Market 2020-2024 (Graphic: Business Wire)
Prolonged use of synthetic cosmetics may cause various health issues such as irritation, hormonal imbalance, and toxicity. However, cosmetic products made of organic ingredients such as plant extracts and natural oils do not leave any harmful impact on the skin. This has resulted in a shift in the preference from synthetic skincare products over organic products among consumers. To capitalize on this growing interest, vendors in the market are introducing a wide range of organic skincare products made of plant-based and organic ingredients such as aloe vera extracts, sea salt, charcoal, shea butter, lanolin, jojoba oilseed, beeswax, and others. Some vendors are also including essential oils such as sandalwood, melaleuca, lavender, chamomile, helichrysum, and frankincense in their products. All these factors are contributing to the growth of the global organic skincare products market.
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The major organic skincare products market growth came from the facial care segment in 2019. This is due to the increased demand for anti-aging products among consumers.
North America was the largest market for organic skincare products in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to the rise in the number of online platforms that offer organic skincare products in the region.
The global organic skincare products market is fragmented. Beiersdorf AG, Johnson & Johnson, L’Oreal SA, Natura &Co., Shiseido Co. Ltd., The Clorox Co., The Estee Lauder Companies Inc., The Procter & Gamble Co., True Botanicals, and Unilever Group are some of the major market participants. To help clients improve their market position, this organic skincare products market forecast report provides a detailed analysis of the market leaders.
As the business impact of COVID-19 spreads, the global organic skincare products market 2020-2024 is expected to have positive. As the pandemic spreads in some regions and plateaus in other regions, we continue to revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/organic-skincare-products-market-industry-analysis
Rising product awareness especially among millennials will be a key market trend
The millennial population is very fashion conscious and keeps themselves updated about new product launches in the market. The emphasis on personal wellbeing, styling, and grooming has also increased among men, which has made them more beauty and image-conscious. This has encouraged many players to offer a varied portfolio of products exclusively for men such as detoxifying clay mask, exfoliating clay mask, and facial cleansing oil. Moreover, the rising disposable income of the millennial population has increased the consumer spend on high-quality skincare products. These factors are positively influencing the growth of the global organic skincare products market.
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Organic Skincare Products Market 2020-2024: Key Highlights
CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will assist organic skincare products market growth during the next five years
Estimation of the organic skincare products market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the organic skincare products market
Analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of organic skincare products market vendors
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Value chain analysis
Market segment analysis
Market size 2019
Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market Segmentation by Product
Comparison by Product
Facial care - Market size and forecast 2019-2024
Body care - Market size and forecast 2019-2024
Others - Market size and forecast 2019-2024
Market opportunity by Product
North America - Market size and forecast 2019-2024
Europe - Market size and forecast 2019-2024
APAC - Market size and forecast 2019-2024
South America - Market size and forecast 2019-2024
MEA - Market size and forecast 2019-2024
Key leading countries
Market opportunity by geography
Drivers, Challenges, and Trends
Volume driver - Demand led growth
Volume driver - Supply led growth
Volume driver - External factors
Volume driver - Demand shift in adjacent markets
Price driver - Inflation
Price driver - Shift from lower to higher priced units
Market positioning of vendors
Johnson & Johnson
Shiseido Co. Ltd.
The Clorox Co.
The Estee Lauder Companies Inc.
The Procter & Gamble Co.
Scope of the report
Currency conversion rates for US$
List of abbreviations
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