Global Natural/Vegan Personal Care Market is Expected to Foresee Significant Growth During the Forecast Period. Asia-Pacific to Witness the Highest Growth
The global Natural/Vegan Personal Care market is expected to grow significantly by 2027 expanding at a reasonable CAGR of around 9% during the forecast period (2021-2027).
A surge in the end user’s disposable income is one of the leading factors that is contributing to the growing market of personal care in India, Malaysia, and Sri Lanka. Rising purchasing power in developing countries such as Australia, EU, Mexico, Brazil, India, Thailand, and China are projected to allow consumers to spend more on their looks and appearance. As per OCED, the household spending in Canada, China, Denmark, European Union, France, and Germany reached to 1,021,459.5, 9,241,095.5, 139,229.8, 10,785,281.3, 1,561,879.9 and 2,288,541.1 US$ million, respectively.
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A lifestyle change, promulgating working women’s and rising fashion consciousness. As per the World Bank, women’s participation in the total labor force globally increased from 38.85% in 2018 to 38.88% in 2019. Also, the attractive marketing strategies and packaging by the companies are acting as a growth catalyst to the industry.
Also, the conception of natural personal care has progressed tremendously due to the strong rise in digital and social media influence. The desire to look good and feel good is raging more than ever in people from all walks of life and the yardstick has just gone higher. Personal care is no more restricted to basic hair care and skincare routines. It is much more diversified and ever-changing, hence providing a great opportunity for the industry. A large part of that business is growing due to an increase in organic and natural product supply of salons and professional artists, and it has further led to growth in the number of consumers preferring professionals for their beauty needs. Whereas consumers earlier would shampoo and condition their hair at home, now they are keener to walk into a salon and get more professional treatment for their hair and skin and that fairly is driving the growth of the industry
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From a demographic perspective, the prime three factors driving this growth increasing disposable income, more women coming into the workforce, and the rising number of social occasions as compared to in the past. Also, numerous companies have earmarked their presence in the natural/ vegan personal care market. With a continued focus on product expansions, investments, business expansion, product launches, and collaborations. They continue to offer a wide range of grooming products as well as color cosmetics that cater to the beauty needs of men folk and women folk. To stimulate the overall adoption of personal care products across countries such as the United States, Canada, UK. France, Germany these players have adopted various strategies to enhance the penetration of beauty products comprising of skin cleansers, moisturizers, face creams, face scrubs, face packs, hair shampoos, conditioners, nail paints, lip shades, fragrances, deodorants, oral care products, shaving kits, bath and shower gels and other men grooming products.
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The global beauty industry (which includes skincare, color cosmetics, haircare, fragrances, and personal care) has been shocked by the COVID-19 crisis. Although, the sales of beauty and personal care products in the first quarter of 2019 were quite weak owing to the widespread closures were witnessed throughout the world. But the beauty and personal care industry has responded positively to the crisis, several leading brands had switched their manufacturing to produce hand sanitizers and cleaning agents and offering free beauty services for frontline response workers. As per Statista, the average monthly value sales of skincare fell to 87 during pre-COVID March, compared to their baseline value of 100 from December 2019 to February 2020 in India. Their value further fell to 48 during Lockdown three and four. The month of June experienced some recovery in value sales.
Based on the Product Type, the market is fragmented into Skin Care, Hair Care, Makeup/ Cosmetics, and Others. The skincare segment grabbed the major market share and dominated the market. Moreover, the market of this segment would proliferate in the forthcoming years owing to Emerging skin diseases such as Eczema, Dry Skin., Psoriasis, Vitiligo, etc. the most common skin diseases were infections and infestations (47.15%) consisting of bacterial infections (58.09%) and scabies (21.54%), followed by eczemas (26.95%), infantile seborrheic dermatitis, scabies, and pityriasis alba.
Based on the End-User, the market is fragmented into Men, Women, and Children. The women segment grabbed the leading market share and dominated the market. A rise in internet penetration, rapid urbanization, and high user of women on e-commerce websites across countries is also leading to the growth of the segment, especially among women. As per a study, in India, only 38% of women use the cell phone.
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Additionally, the report provides detailed initiatives that are being taken in the field of natural/vegan personal care. The market is classified into distinct regions including North America (the U.S, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, and United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and the Rest of APAC), Rest of World has been conducted. Asia Pacific region dominated the market and grabbed major market share in 2020. A rise in disposable income of consumers in countries such as India, China, Japan, etc. coupled with the rising awareness is leading to the growth of the market. However, the North America region is expected to witness a considerable CAGR during the forecast period.
Global Natural/Vegan Personal Care Market Segmentation
Market Insight, by Product Type
- Skin Care
- Hair Care
- Makeup/ Cosmetics
Market Insight, by Sales Channel
- Hypermarket/ Supermarket
- Departmental Store
- Specialty Stores
Market Insight, by End-User
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Aveda Corporation
- Bare Escentuals Beauty, Inc.
- Burt’s Bees Products Company
- Colgate-Palmolive Company
- Colorganics, Inc.
- Estee Lauder, Inc.
- Gabriel Cosmetics, Inc.
- Giovanni Cosmetics Inc.
- Iredale Mineral Cosmetics, Ltd.
- Johnson & Johnson