The global organic personal care products market is fragmented with the presence of various international and local manufacturers, states Transparency Market Research in its latest report. There is intense rivalry among players within this market and each is trying to defeat the other by developing improved products at lower cost. Market players are increasingly participating in mergers and acquisitions so as to expand their product portfolio as well as their geographical reach. Some of the leading players in the market are: Estee Lauder, The Hain Celestial Group, Yves Rocher, and The Body Shop. Manufacturers are taking efforts to develop a variety of products through upgradations and innovations so as to attract more customers. Product innovation in the form of packaging and new fragrance or flavor is a common strategy adopted by most players. Small and portable packaging which is travel-friendly is becoming popular and thus manufacturers are providing products in varying sizes. Packaging is used as a means to distinguish products from one brand to another.
According to TMR, the global organic personal care products market will be worth US$15,693.7 mn by 2020. On the basis of product, the market is anticipated to be led by the skincare segment, which includes body care, facial care, and sun care products. The growing demand for organic and natural products as opposed to chemical products which cause side effects is spurring a heightened demand for organic personal skin care products. The expanding distribution channel is aiding the growth of this segment. The second most popular organic personal care product is hair care. With growing geriatric population and increasing cases of dandruff and premature grey hair, this segment will witness a healthy growth over the coming years, said a TMR analyst.
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Japan to Emerge as Attractive Market for Organic Personal Care Products
On the basis of geography, Asia Pacific is likely to emerge as one of the fastest growing regional segment in the coming years. Japan is estimated to emerge as a lucrative market among other countries in this region. The continued faith in everything organic and natural is one of the key factors boosting the growth of the organic personal care products market in this country. High demand is also expected from countries such as China and India in the years to come. North America is currently leading in the market, followed by Europe. The increasing awareness about the benefits of organic products and therefore the entry of several multinational players in manufacturing organic personal care products are driving the markets of North America and Europe.
Growing Popularity of Products with Organic Labels Driving Market’s Growth
The growing awareness about the benefits of natural and organic products is catching up at a rapid pace and this will drive the demand for organic personal care products. Across many nations, various policies and guidelines which are encouraging the manufacturing of organic personal care products are helping the growth of the market. The increasing sales of personal care products that have an organic and natural label is pushing the growth of this market and forcing manufacturers of personal care products to make organic products. The availability of a wide range of products for hair fall management and skincare will spur the growth of the organic personal care products across the globe.