Consumer product industry analysts predict that the ASEAN organic cosmetic market is set to reach a value of USD 9,484.4 million by 2033. They anticipate a steady Compound Annual Growth Rate (CAGR) of 5.2% for ASEAN organic cosmetic providers until 2033, starting from a valuation of USD 5,605.4 million in 2023.
The rising demand for vegan and cruelty-free cosmetics mirrors the growing influence of ethical consumerism within the ASEAN organic cosmetics sector. Vegan cosmetics cater to individuals seeking ethical and animal-friendly options, formulated without any ingredients sourced from animals.
What used to be a niche trend is now mainstream clean beauty. To meet the demand for clean beauty products, big cosmetics companies have either ventured into this market or acquired smaller natural brands. As a result of this extensive adoption, clean beauty products have become easier to purchase in central retail sites and are now more accessible for other customers. This trend will significantly impact the ASEAN organic cosmetics market growth over this period.
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The adoption of green packaging materials is increasing in the ASEAN organic cosmetics market. Environmental-conscious customers choose products with packaging that produces little waste and causes minimal environmental damage. Aside from catering to these consumers, brands that place value on sustainable packaging also show a concern for ethical and environmentally responsible conduct in accordance with the prevalent trend of sustainability worldwide
A few ASEAN-based organic cosmetics companies provide customization and personalization options. Customers may now customize items to suit their unique skin types, problems, and preferences. This strategy appeals to people looking for customized skincare solutions while also improving the entire consumer experience. In addition to meeting the particular demands of each customer, personalized products also encourage brand loyalty by establishing a feeling of exclusivity and engagement.
“The ASEAN organic cosmetics industry is positioned for noteworthy expansion in the future years due to the increased customer preference for natural and sustainable beauty products. Organic cosmetics are expected to dramatically increase in popularity and drive revenue growth in the market due to the rising emphasis on wellness, environmental awareness, and the pursuit of healthier lives,” says an FMI analyst.
Key Takeaways from the ASEAN Organic Cosmetics Market Report:
- In 2018, the market size stood at US$ 4,366.9 million.
- In 2022, the market size stood at US$ 5,308.1 million.
- Skin care segment acquired 30% of the ASEAN organic cosmetics market shares in 2023.
- Departmental stores captured 70% of the ASEAN organic cosmetics market shares in 2023.
- Thailand acquired 29.8% of the ASEAN organic cosmetics market shares in 2023.
- Indonesia captured nearly 17.8% of the ASEAN organic cosmetics market shares in 2023.
- Malaysia gained 4% of the ASEAN organic cosmetics market shares in 2023.
Key Companies in the ASEAN Organic Cosmetics Market:
- Innisfree
- The Body Shop (owned by Natura &Co)
- Burt’s Bees (owned by The Clorox Company)
- Human Nature
- Hada Labo (Rohto Pharmaceutical Co., Ltd.)
- Sukin (BWx Limited)
- Neal’s Yard Remedies (Neal’s Yard Remedies Ltd.)
- Dr. Organic (Dr. Organic Ltd.)
- Tata Harper (Tata Harper Skincare, LLC)
- Melvita (L’Occitane Group)
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Recent Developments Observed by FMI:
- The Thai clothing business ‘LYN’ debuted Lyn Beauty in April 2022 as a vegan and cruelty-free substitute.
- In June 2021, Singapore served as the official Southeast Asian launch location for the South Korean marine beauty brand TARA. TARA aims to take on Thailand and Vietnam next to expand its SEA footprint. According to the clean beauty skincare line TARA, a high-performance, results-driven skin care spa experience can be had at home, which draws inspiration from the ocean.
Business Growth Drivers:
- Increasing Consumer Awareness: Growing awareness among consumers regarding the harmful effects of synthetic chemicals in cosmetics is driving the demand for organic cosmetics in the ASEAN region. Consumers are becoming more conscious about the ingredients used in personal care products and are opting for organic alternatives.
- Rising Disposable Income: With the rising disposable income levels in ASEAN countries, consumers are willing to spend more on premium products including organic cosmetics. The expanding middle-class population in countries like Indonesia, Thailand, and Vietnam is contributing significantly to the growth of the organic cosmetics market.
- Government Support and Regulations: Favorable government policies and regulations supporting organic farming and sustainable practices are boosting the organic cosmetics market in the ASEAN region. Governments are promoting organic agriculture and providing incentives to organic cosmetics manufacturers, which is driving market growth.
- Shift Towards Sustainable Lifestyles: There is a growing trend towards sustainability and eco-consciousness among consumers in the ASEAN region. Many consumers are making environmentally friendly choices and opting for products that are cruelty-free, ethically sourced, and packaged using sustainable materials, thereby fueling the demand for organic cosmetics.
- Expansion of Distribution Channels: The expansion of distribution channels such as e-commerce platforms and specialty stores is making organic cosmetics more accessible to consumers in the ASEAN region. This increased availability and convenience of purchasing organic cosmetics are driving market growth.
Industry Restraints:
- Higher Cost of Organic Products: Organic cosmetics often come with a higher price tag compared to conventional cosmetics due to the costlier organic ingredients and production processes involved. This higher cost can act as a barrier for price-sensitive consumers, limiting the mass adoption of organic cosmetics in the ASEAN region.
- Limited Awareness and Education: Despite the increasing awareness, there is still a segment of consumers in the ASEAN region that lacks knowledge about the benefits of organic cosmetics. Limited awareness and education regarding organic certifications, ingredient sourcing, and product efficacy can hinder market growth.
- Supply Chain Challenges: Maintaining a consistent supply of organic ingredients can be challenging due to factors such as weather conditions, crop failures, and limited availability of certified organic raw materials. Supply chain disruptions can impact the production and availability of organic cosmetics in the ASEAN market.
- Competition from Conventional Cosmetics: The organic cosmetics market in the ASEAN region faces stiff competition from conventional cosmetics that dominate the market. Established brands with extensive marketing budgets and widespread distribution networks pose a challenge for organic cosmetics brands, especially in terms of market penetration and brand visibility.
- Regulatory Hurdles: Despite supportive regulations, navigating the complex regulatory landscape for organic cosmetics can be challenging for manufacturers in the ASEAN region. Compliance with various organic certifications and labeling requirements adds to the operational costs and regulatory burdens, which can restrain market growth.
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ASEAN Organic Cosmetics Market Segmentation
By Product Type:
- Skin Care
- Hair Care
- Make Up
- Fragrances
- Toiletries
- Others
By Distribution Channel:
- Departmental Stores
- Franchise Outlet
- Beauty Specialist Salon
- Direct Sales
- Chemist/Pharmacies
- Internet
- Others
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