Organic Cosmetics Market : Contrasting Historical Outlook (2017-2022) with Future Forecasts (2023-2033) | FMI

The Organic Cosmetics Market is anticipated to be worth US$ 19.6 Billion. The market is expected to increase at a 5.1% CAGR from US$ 20.5 Billion in 2023 to US$ 33.7 Billion in 2033. The organic cosmetics market was expected to grow at a 3.7% CAGR between 2017 and 2022. Global use of organic cosmetics increased in 2017, as governments in many countries took measures to promote and support the use of organic cosmetics.

Natural claims have sparked the sustainability quotient in addition to being significant product purchase drivers when paired with product efficacy claims and brand identity.

The packaging trends in the personal care sector have evolved to incorporate more secure, natural formulas, and practical packaging. Natural solutions are being employed more and more in product packaging as a result of the excellent response they are receiving from the product industry. The businesses’ marketing techniques call attention to profitable container designs while also advocating natural solutions.

Customers now demand total transparency from cosmetics producers regarding their sourcing practises, goods, ingredients, and environmental practises. As the requirement to prove their social and environmental credentials develops, more cosmetics companies and manufacturers are searching for ways to redefine their own brands through sustainability-focused items, services, and customer experiences.

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Key Takeaways from the Organic Cosmetics Market Study

• FMI in its latest study has forecast the market to rise at a CAGR of 5.0% between 2021 and 2031
• The U.S. will emerge as a key market, accounting for nearly 80% of organic cosmetics market in North America
• Growth in the U.K. will remain moderate. FMI forecasts the market to record nearly 1.9% Y-o-Y growth in 2021
• While Germany and France too will continue exhibiting demand for organic cosmetics, Italy is expected to emerge as a lucrative pocket in Europe
• Japan, China, and South Korea will emerge as key markets for organic cosmetics in East Asia. Of these, Japan is likely to dominate

Impact of COVID-19 & 2020 Market Analysis

Additionally, the general shift in consumer spending from discretionary to essential goods has had a negative impact on market growth. The way that firms operate globally is changing as a result of e-commerce. In actuality, e-involvement commerce has expanded throughout all industries as a result of the Covid-19 epidemic and lockdown.

The current pandemic outbreak has created a variety of challenges for both the supply side and the demand side. The temporary regulation that regional governments adopted to limit mobility has seriously harmed supply chains.

The population segment that is not accustomed to online buying has also accepted it because it is the only option. There are many chances for companies and online services to work together to boost customer engagement.

Who is winning?

Estee Lauder, L’Oréal Group, WELEDA Inc., Groupe L’OCCITANE, and KORRES Group are a few notable companies in the organic cosmetics business. The Himalaya Drug Company, Babylist Inc., The Clorox Company, The Honest Company, Avalon Organics, and KORA Organics are a few examples.

To acquire a competitive advantage over other market participants, players are aggressively investing in order to encourage and support product development. The creation of an innovative product portfolio and portfolio expansion is the most popular strategy among the major businesses. Innovation is the instrument used to entice and persuade consumers to purchase a particular product category. By highlighting a product’s USP, which typically varies from one brand to another, it aids in separating one product from another.

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