Natural/Vegan Personal Care Market: Current Analysis and Forecast (2021-2027)
Emphasis on Product Type (Skin Care, Hair Care, Cosmetics/ Makeup, Others); End-User (Men, Women, Children); Distribution Channels (Supermarkets & Hypermarkets, Departmental Stores, E-Commerce, Specialty Stores, Other); Region/Country
The Global Natural/Vegan Personal Care is Expected to Display an Elevated CAGR of ~9% over 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 Natural/Vegan Personal Care, globally. 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. Also, the rising purchasing power is leading to the growing investment in natural and organic products such as skin care, hair care, and cosmetics.
As the beauty and personal care industry has evolved eventually, the global natural/ vegan beauty and personal care market has displayed both international and local players making a sudden influx with new product launches catering to consumer specifications. Economies of scale have become easier to reach, market barriers have been reduced and data is supporting highly efficient advertising spending. Through popular social media platforms headed by the likes of Instagram, the awareness of advanced beauty products has exploded tremendously. Although these products are heavy prices, they deliver increased value in terms of efficacy, safety, and consumer experience. An upper shift in the socioeconomic status of the global population leading to more spending money, aspirational demand, consumerism perpetuated by the increased availability of media content, and increased wallet output are some factors invigorating the preference for organic and natural beauty and personal care products
Consumer Preference about Hair, Skin and Cosmetics, India, 2019
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, etc. are some of the prominent players operating in the Natural/Vegan Personal Care market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst Product Type, Skin Care segment holds the major share”
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. The segment captured XX% market share in 2020. The segment is witnessing an uptick owing to the rising number of skin diseases such as Eczema, Dry Skin., Psoriasis, Vitiligo, etc., among consumers. As per the National Library of Medicine, 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
“Amongst End-User Type, Women segment holds the major share”
Based on the end-users the market is fragmented into men, women, and kids. The women segment grabbed the major market share and dominated the market. The key factors attributed to the growing share of the segment. A rise in internet penetration, rapid urbanization, and high user of women of e-commerce websites across countries is also leading to the growth of the segment especially among women
“Amongst Sales Channel, Hypermarkets & Supermarkets segment holds the major share”
Based on the sales channel, the market is fragmented into E-commerce, Hypermarket/ Supermarket, Departmental stores, Specialty Stores, and Others. The supermarkets and hypermarkets segment grabbed the major market share and dominated the market. The key factors attributed to the growing share of the segment are the availability of numerous brands under one roof, expanding supermarkets and hypermarket chains, etc.
“Asia Pacific represents one of the largest markets of Natural/Vegan Personal Care market”
For a better understanding of the market dynamics of the Natural/Vegan Personal Care market, a detailed analysis was conducted for different regions across the globe including North America, Europe, Asia Pacific, and the Rest of the world. The Asia Pacific dominated the market and generated the leading revenue share in 2020 owing to the availability of Natural/Vegan Personal Care manufacturers in abundance and new launches are some of the factors that are contributing to the growth of the market.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
Customization Options:
The Natural/Vegan Personal Care Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Natural/Vegan Personal Care Market were the three major steps undertaken to create and analyze the demand for Natural/Vegan Personal Care across major regions. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Natural/Vegan Personal Care market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/ bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the Natural/Vegan Personal Care through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Natural/Vegan Personal Care market, we conducted a detailed secondary analysis to gather historical market insights and share for product type, end-user, and distribution channel for major regions. Major segments included in the report are product type and distribution channels. Further region and country-level analyses were conducted to evaluate the overall adoption of Natural/Vegan Personal Care across the globe.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Natural/Vegan Personal Care. Further, we conducted factor analysis using dependent and independent variables such as the rise in disposable income, rising awareness regarding natural products, etc., A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Natural/Vegan Personal Care industry across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Natural/Vegan Personal Care market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. bottom-up/ top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of Natural/Vegan Personal Care across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Natural/Vegan Personal Care market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Natural/Vegan Personal Care market. Data was split into several segments sub-segments post studying various parameters and trends in the areas of product type, end-user, and distribution channel of the Natural/Vegan Personal Care market.
Main Objective of the Natural/Vegan Personal Care Market Study
The current & future market trends of Natural/Vegan Personal Care were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Natural/Vegan Personal Care in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product type, end-user, and distribution channel
- Define and analysis of the regulatory framework for the Natural/Vegan Personal Care industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Natural/Vegan Personal Care market for the major countries
- The major region studied in the report includes North America, Europe, Asia- Pacific, and the Rest of the World.
- Company profiles of the Natural/Vegan Personal Care market and the growth strategies adopted by the market players to sustain in the fast-growing market
Deep dive regional level analysis of the industry
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November 7, 2024
