The U.S. Tea-based Skin Care Products Market is set to become a lucrative investment destination in North America, with an anticipated sales growth of 7.2% CAGR during the forecast period. Projections suggest that the total sales in the U.S. market will reach an impressive valuation of US$ 138.6 Million by 2032.
The increasing expenditure on skincare and personal care products in the country, coupled with a rising preference for natural and organic skincare solutions, will be key drivers for the growing demand for tea-based skin care products in the years to come.
Benefiting from the presence of renowned global beauty brands and a rise in skin-related allergies and disorders, the market will continue to experience upward sales momentum throughout the forecast period. In 2022, the U.S. tea-based skin care products market is expected to present an attractive absolute dollar opportunity, amounting to US$ 69.2 Million.
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Overview Tea-based Skin Care Products
The market for green tea-based skin care products is anticipated to reach US$ 536.4 Million in 2022 and display an astounding 8.7% CAGR from 2022 to 2032. This is because consumers are becoming more conscious of natural personal care products, and manufacturers want to switch out conventional substances with natural alternatives.
Therefore, with increasing demand for natural cosmetics due to their long-term health benefits, the green tea-based skin care products are growing attaining popularity over the forecast period. Tea is produce from the Camellia sinensis plant- a small evergreen shrub native to East Asia region. Green tea has various essential elements such as polyphenols, tannins, protein, minerals, amino acids, carbohydrates, and others.
Using green tea as an ingredient in skin care products provide various health benefits such as potent free radical scavengers, strong antioxidant herbs, acne management, dermatological benefits, and many more. Projected to rise at a CAGR of ~8.7% between 2022 and 2032, Future Market Insights foresees stable growth for the market.
“Prominent players in the global tea-based skin care market can gain significant profits by introducing novel tea-compounds into their beauty care offering. Companies can also be shifting their focus towards sustainable raw materials and replacing synthetic chemicals with natural ingredients.” says an FMI analyst.
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Key Takeaways from the Study
According to the report, various prominent players are rapidly expanding their market footprint through various strategic partnership with major regional distributors and players. This is also intended to expand their product portfolio by adding new naturally derived skin care products.
Currently key players are significantly investing in research and development activities to boost manufacturing capabilities and to have a competitive edge among their competitors.
Companies are incorporating green tea in their skin care products in extract form. Additionally, they are developing their own green tea extracts to ensure high quality, purity, concentration, and others.
The East Asia region is expected to retain its dominant position in the global tea-based skin care products market, due to high production of tea in the world and people in the region consider it as a remedy which was discovered thousands of years ago in China.
Among tea type, the green tea segment is expected to exhibit a comparatively higher CAGR in the global tea-based skin care products market in the near future, as it has high antioxidants benefits when applied topically. It also reduces oxidative stress and neutralise free radicals.
The rapidly growing trend of beauty supplements to enhance the radiance, smoothness of the skin, and reduce problems related to aging. Therefore, to boost the overall appearance consumers are including such products into their daily routine. Manufactures are also improving their formulas to introduce novel beauty supplements.
The tea is one of the excellent beauty improving ingredient used in supplements and skin care products which has a positive impact on the market. Consuming tea-based supplements in right amount provides various beauty benefits such as healing properties, skin disorder treatment, improving metabolism, and many more.
In skin care products the tea is used in various forms such as extract, camellia seed oil, leaf powder, and others. However, the effectiveness of tea as an ingredient is depend on many factors such as concentration level, tea quality, processing method, etc. This above mention factors is boosting the demand for tea-based skin care products market over the forecast period.
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Who is winning?
Some of the key players operating in the tea-based skin care products market are Laboratories du Palais Royal, AmorePacific Corporation, Organic Tea Cosmetics Holdings Co Ltd., Avon Products, Inc., L’Oréal S.A., Natura & Co., Unilever, Purity Cosmetics Inc., Schmidt’s Naturals, ArtNaturals, SkinYoga, The VLCC Group, ARTDECO cosmetic GmbH, Burt’s Bees, Inc., Korres Natural Products Company, Kendo Holdings Inc., Dr. Bronner’s, Avalon Natural Products, Inc., Elizabeth Arden, Inc., BCL SPA, and others.
Several prominent market players are entering into strategic partnership with various stakeholders to expand their product portfolio, market footprint, and enter into luxury business segment. Besides this, mergers and acquisitions often allows them to gain competitive advantage.
In June 2019, Unilever acquired Tatcha LLC to increase its product offering in skin care products based on a green tea ingredient.
In 2018, Innisfree established its first store in NYC’s Union Square, USA. This helped company to improve its customer base in North America through expanding product offering and attracting new customers through various innovative products and promotional strategies.
Tea-based Skin Care Products Market by Category
Product Type:
- Creams & Lotions
- Serums
- Face Packs/Masks
- Cleansers
- Other Skincare Products
Tea Type:
- Black Tea
- Green Tea
- Others
Skin Type:
- Dry
- Combination
- Normal
- Sensitive
- Oily
Sales Channel:
- Direct Selling
- Specialty Outlets
- Supermarkets/Hypermarkets
- Convenience Stores
- Beauty Stores
- E-Retailers
- Other Sales Channel
Region:
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia Pacific excluding China & Japan
- Japan
- China
- Middle East & Africa
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