Global organic personal care market to grow to $25.1 billion by 2025
According to a new report from Grand View Research, Inc., the global organic personal care market will experience a compound annual growth rate (CAGR) of 9.5% over the next seven years, building on a firmly established market in the US and growing demand in developing economies.
At this rate, the report predicts that the global market for organic personal care will expand to be worth $25.1 billion by 2025.
The US is currently the biggest market for these products, having been valued at $3.5 billion in 2015, a fact that the report links to the adoption of the Montreal Protocol and Kyoto Protocol in the US and Canada pushing personal care manufacturers to develop products using natural products.
Demand for organic personal care products is also growing in countries such as India, China and Brazil, developing markets where demand for organic cosmetics in particular helped pushed the segment to $2 billion in 2015.
Globally, the organic skincare segment is also predicted to see a CAGR of 10% from 2016 to 2025, with the report attributing this growth to the fact that the natural ingredients used are often purported to have sought-after anti-oxidizing properties.
According to the report, factors such as changing consumer attitudes in relation to organic products, increasing levels of disposable income and approval from health and safety regulatory bodies – such as the US Department of Agriculture (USDA) and the FDA in the United States, for example – have helped fuel demand for organic personal care and will continue to push growth in the sector in the coming years.
The study also highlighted the efforts of companies such as The Body Shop, Aveda Corporation, Amway, and Estée Lauder in developing technologies capable of producing cost effective organic products that have helped build an affordable natural personal care offering.
Grand View Research’s Organic Personal Care Market Report 2018-2025 is available to purchase via the ReportLinker website.
Copyright © 2021 FashionNetwork.com All rights reserved.