12.10.23
The natural skincare products market is anticipated to reach a market value of $13.4 billion by 2032, with an estimated growth rate of 6.5% from 2022, per leading market research firm Fact.MR.
The rising consciousness regarding the harmful effects of chemical-based products on the skin is the primary driver behind the increasing demand for natural skincare alternatives, analysts say.
An additional driving force for the industry's expansion is the increasing prevalence of acne-prone skin among both men and women. Moreover, the substantial endorsements of natural skin care products are expected to significantly contribute to market growth.
The burgeoning trend of Instagram challenges is anticipated to further elevate the demand for these products, thereby positively impacting the market.
Key Takeaways
Global natural skin care product will hold a market value of $7.14 billion in 2022. Europe is anticipated to secure the largest market share of about 33%. APAC is projected to grow at a CAGR of 6% during the forecast period. Based on product type, facial care segment to accumulate 71% market revenue. The demand for body care products will incline at a CAGR of 6% from 2022-2032.
Mass natural skin care products will yield nearly 70% of global market revenue in 2022.
“The increasing awareness about the adverse impact of using a chemical-based skin care product is the key factor boosting demand for natural skin care products at a global level,” said a Fact.MR analyst.
Competitive Landscape
Market players employ diverse strategies to broaden the market scope. Among these strategies are partnerships, acquisitions and collaborations – all geared toward amplifying their global presence.
In January 2022, HAPPI Top Company Procter & Gamble disclosed it will buy Tula Skincare. It is the third acquisition by the player in the span of three months. The terms have not yet been made public.
In November 2021, Victoria’s Secret, a renowned player for offering women luxe inner wears, rolled out its first e-beauty commerce store in India.
In January 2022, The Body Shop rolled out its sustainable Body Butter. The new Body Butter has been registered by The Vegan Society. It is composed with 95% ingredients of natural origin.