The worldwide organic personal care market generated over USD 8.3 billion in 2014. It is anticipated to grow at around 9 percent CAGR during 2016 to 2024 (forecast period). The market will produce sales worth USD 15.8 billion by 2024. This significant expansion may be ascribed to awareness regarding eco-friendly products that don’t have petrochemicals, parabens, and aluminium salts.
Novel organic products have grown. Also, manufacturers & sellers consider innovative means of ‘demand generation.’ Both these factors can drive market demand in the near future. Organic products are made from plant roots, essential oils, herbs, & flowers coupled with naturally-available emulsifiers, humectants, additives, & surfactants.
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This market has greatly evolved across the globe. Sales trainings for ‘consumer education’ regarding superior ‘beauty products’ should propel market revenues. Client awareness about personal health is also likely to add market growth till 2024. Enhanced living standards and increased disposable earnings of the employed ‘middle-class’ populace across developing Asian Pacific nations may propel the market in the forecast period.
However, discrepancies in ‘feedstock supply’ would hinder the market. Technological advancements and research & developments in processing & cost-efficient manufacturing were the key drivers of organic personal care market in the recent years. Research on developing customized & sophisticated products can open market prospects.
The market is split by products and geographies. Products comprise skin care, hair care, oral care, and others. Skin care led in terms of demand and surpassed USD 2.5 billion in 2013. Hair is estimated to grow at nearly 9.8 percent CAGR during 2014 to 2020. Oral care captured 13 percent shares in 2013 and should undergo high growth. Its shares could be attributed to escalating gum diseases.
The geographies are Asia Pacific, North America, Europe, and rest of the world. North America reigned in the recent past and has regional prospects in Mexico. Europe and Asia Pacific followed North America and were pushed by customer inclination and advanced products. The worldwide organic personal care market is mainly characterized by product innovations.
Some of its players are L’Oreal; The Body Shop; Aveda Corp.; and Amway. Few companies have introduced ayurvedic substances; like clove, tulsi, lemon, neem, etc.