Sales of natural and organic cosmetics are soaring globally with revenues projected to approach $7 billion this year. New research by Organic Monitor finds that North America and Europe are the two engines of growth, comprising the bulk of the $1 billion sales increase this year.
The major drivers of market growth are the mainstreaming of natural and organic cosmetics, inward investment and growing consumer demand for green products, according to the business research and consulting company that specializes in the global organic and related product industries. Investment is also coming from large cosmetic companies as they either acquire dedicated natural and organic cosmetic companies or launch certified products.
New product development has become a key feature of the natural cosmetics market, reports Organic Monitor. By adopting private standards like Ecocert and Soil Association, cosmetic manufacturers are forced to innovate through product formulations. Companies are experimenting with natural preservatives, surfactants and colorants as they move away from synthetic chemicals.More info: www.organicmonitor.com.