According to BlueWeave Consulting, The global herbal beauty products market is worth USD 84 billion and anticipated to grow at a CAGR of 7% during the forecast period 2019 to 2025.
Herbal Beauty Products are increasingly gaining popularity over synthetic products due to lesser side effects, which are expected to drive the growth of Herbal Beauty Products Market. This kind of product possesses desirable physiological properties such as smoothing appearance, healing, and conditioning properties. The key factor driving the herbal beauty products includes the increasing consumer awareness related to the harmful effects of synthetic cosmetics along with growing demand for green-labeled personal and beauty care products. The rising popularity of environmentally sustainable products is also driving the demand for herbal beauty products across the globe.
Moreover, the beauty product companies have been acquiring herbal beauty and personal care brands to expand consumer base that is progressively passionate about clean, green, and herbal products, and hence, the ingredient players are also now acquiring their equivalents with strong natural ingredient businesses. A significant rise in the influence of social media and beauty blogs that are spreading the benefits of herbal beauty products is likely to influence the sales volume of herbal beauty products. In addition, herbal beauty products are suitable for all types of skin, which is also influencing the sales of herbal beauty products such as foundation, eye shadow, and lipstick, which are suitable irrespective of all skin tone. However, the availability of the various types of herbal beauty products with innovative packaging and improving distribution networks are playing a key role in driving market growth over the forecast period.
Skin Care Product Type in Herbal Beauty Products Market to Witness Healthy Growth during the Forecast Period
Among product types, the skin care segment accounted for the highest market share in fast years and is expected to dominate in the coming years attributed to increasing awareness of the use of herbal cosmetics to improve skin, such as slowing the aging process. Furthermore, increasing the demand for skincare and hair care products is expected to drive the growth of this segment. Moreover, the growing awareness about beneficial properties and characteristics of herbal skin care products such as soothing skin and healing ailments is attracting consumers to purchase more herbal beauty products. The growth of the herbal skin care products segment is primarily driven by the growing demand for clean label beauty products, along with an increasing number of health-conscious consumers worldwide. On the other hand, the herbal hair care cosmetics products are witnessing significant growth, especially in products such as shampoos & conditioners, which are expected to fuel the overall market growth.
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Asia-Pacific Region Witness to Be the Fastest Growing Region for Herbal Beauty Products Market during the Forecast Period
In North America, the consumer inclination towards healthier lifestyles and the growing demand for products that have a low impact on the environment are driving the market growth. Additionally, the growing acceptance of vegan lifestyles among millennials is likely to contribute to the growth of the market. In the Asia-Pacific region, to meet consumer expectations, key players are focusing on the environmental dimension of their strategies, by creating sustainable partnerships with local vendors or providing information to their consumers about the origin and quality of their raw materials. This approach is not only for the procurement practices but also for the packaging, which will change the market dynamics of herbal beauty products market in the upcoming years. The availability of raw material and a huge consumer base is influencing the market growth in the Asia-Pacific region. For instance, among Southeast Asian countries, Thailand leads as an original equipment manufacturer (OEM) for international cosmetic brands. Thailand OEM cosmetic manufacturers can produce a premium quality product, including herbal beauty products, which are driving the growth of the herbal beauty products market in the region.
Key Developments in the Global Herbal Beauty Products Market
Apr 2018: Rausch Herbal Beauty Productsenters TR with Dufry at Zurich. Rausch’s range includes specialist hair and body care products, available as collection sets, travel retail assortments, and body care gift boxes.
Jun 2018: Weleda AG Receives First-ever UEBT Certification and Label for Sourcing with Respect. Weleda is one of two leading brands worldwide to be the first to obtain the new UEBT (Union for Ethical Biotrade) certification for sourcing with respect. UEBT is a non-profit organization that provides a globally recognized standard for sustainable sourcing and the use of raw materials.
Global Herbal Beauty Product Market: Competitive Landscape
Key players operating in herbal beauty products market include Weleda AG, Bio Veda Action Research Co., Arbonne International, LLC, Vasa Global Cosmetics, Klienz Herbal Pvt. Ltd., The Himalaya Drug Company, Shahnaz Ayurveda Pvt. Ltd, Lotus Herbals Limited, and Hemas Holdings PLC. Major Key Players are focused on organic and inorganic strategies such as merger & acquisition, and new product launches to enhance their business and product portfolio in the herbal beauty products market.
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