Natural Skin Care Products Market Size, Share & Trends Analysis Report By Type (Mass, Premium), By Product (Facial Care, Body Care), By End-use, By Distribution Channel, By Region, And Segment Forecasts, 2020 - 2027
Natural Skin Care Product Market Growth & Trends
The global natural skin care products market size is anticipated to reach USD 16.06 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.0% from 2020 to 2027. Increased exposure to chemical beauty products has resulted in rising cases of allergies due to which people are refraining from buying such products and are shifting to natural skincare products.
Large-cap beauty and cosmetic companies are investing in natural products division by acquiring small firms or startups for expanding according to market dynamics. For instance, in 2017, Loreal, a beauty and cosmetics company, acquired a German natural beauty company, Logocos Naturkosmetik AG, which has a certified product range made of plant extracts and natural ingredients. The major offerings of the company are skincare, hygiene, body care, hair care, and color.
Based on type, the mass segment led the market and accounted for 60.5% share of the global revenue in 2019. Customized solution offerings and new product launches in the market place are some of the trending factors expected to boost the segment growth. For instance, Forrest essentials, an Indian brand, offers customization options for a skincare routine, such as skin cream, moisturizers, and night pack, in which a skin quiz is presented and further the products are recommended according to the customized details.
The facial care segment led the market and accounted for 63.9% share of the global revenue in 2019. Growing skin-related concerns including acne issues, dead skin, open pores, and dull skin, mainly among millennial groups, have led to the acceptance of natural skincare products. Many brands have been contributing to this segment's growth and launching products for the same. For instance, in April 2020, Tata Harper, a premium natural skincare brand, launched Water-Lock Moisturizer for the face containing pomegranate enzymes and orange blossom peptides.
The COVID-19 (coronavirus) outbreak is likely to reduce the demand for natural skincare products across the globe. Consumers have become more conscious of their spending habits and tend to avoid premium products, such as organic and natural, which is a major challenge for the market. It is also expected that customers would avoid visiting retail stores and brick and mortar stores post-pandemic as they are conscious about their health and avoid going to crowded places. This might impact the sales of cosmetic products, including natural skincare products.
Based on end-use, the women segment led the market and accounted for 60.0% share of the global revenue in 2019. Women are more conscious of their skin and overall appearance, which leads to a preference for better quality products, which are chemical-free and healthy for their skin. Moreover, the increasing involvement of females in the working population globally has enabled them to spend on natural beauty products due to an increase in disposable income, which is driving the segment.
Europe dominated the market for natural skin care products and accounted for 33.2% share of the global revenue in 2019. Stringent regulations in the region regarding the beauty and cosmetic products, such as NaTrue and COSMOS NATURAL, which define the criteria natural companies must comply with to ensure consumers that their products are genuine organic or natural cosmetics produced, are contributing to the growth of the market.
E-commerce is expected to witness the fastest growth over the forecast period. The rising popularity of e-commerce channels among the manufacturers and high consumer penetration has been driving the sale through this channel. In addition, an increase in the number of natural products private sales websites, such as nykaa.com, mamaearth.com, and wowshampoo.com, has been boosting the segment growth.
Natural Skin Care Product Market Report Highlights
Based on type, the mass segment led the market and accounted for 60.5% share of the global revenue in 2019. Technological advancement pertaining to the online selling of beauty products is contributing to the segment growth. According to Marketing Communication News report 2019, 56% of skincare users are convinced by the use of Augmented Reality, chatbots, and virtual advisors for their final purchase of skincare routine products
Based on end-use, the women segment led the market and accounted for 60.0% share of the global revenue in 2019. The rising importance of natural skin care product purchasing and growing per capita income of women workforce are the key factors fueling the growth for this segment
E-commerce emerged as the fastest distribution channel in 2019 and is expected to retain its pole position throughout the forecast period. The increasing availability of a wide range of natural skincare products of different brands, free delivery, and seasonal discount on e-retailer platforms are among the major reasons driving the segment
Asia Pacific is expected to emerge as the fastest-growing regional market with a CAGR of 5.3% from 2020 to 2027. Factors such as a growing preference for natural skin care products among millennials and increasing disposable income have been boosting the number of first-time buyers in the region, which is expected to drive the market in the region.
Please note: The report will be updated with the latest data and delivered to you within 2-3 business days.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook