The cosmetics industry will see a growing number of brands, both existing and new entrants, racing for organic certificates in the coming years. Soaring environmental challenges and a stronger emphasis on sustainability will continue to help the sector gain momentum.
DUBAI, UAE / ACCESSWIRE / February 22, 2021 / Future Market Insights: FMI states in its recent study on the organic cosmetics market that the market will record a CAGR of 5.0% through 2031. Demand for organic cosmetics is anticipated to continue surging particularly on due to the growing adoption of veganism.
'Key players are adopting various strategies to survive in the highly competitive environment. With an aim to create brand name and survive in the competitive environment, these companies are focusing on innovations to be ahead of consumer wants and needs.' says the FMI analyst.
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Organic cosmetics Market - Important Highlights
- Skin care is the bestselling category according to the report and is predicted to see a remarkable development over the projected era.
- According to sales channel, In the organic cosmetics market, sales from retail stores and hypermarkets/supermarkets also account for a large share.
- While in its infancy, the male cosmetics industry is anticipated to see a variety of major beauty and fashion brands.
- North America led by the US is estimated to be one of the leading markets for organic cosmetics during the estimated time.
Organic cosmetics Market - Drivers
- Soaring environmental challenges and a stronger emphasis on sustainability will continue to help the sector gain momentum.
- organic consumer products also have lesser side effects which is driving the growth of the market.
- support from strong local companies is one of the main factors that is fueling the market demand globally.
- Favorable government policies and guidelines around the world pertaining to the usage of natural ingredients is encouraging the organic cosmetics market growth.
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Organic cosmetics Market - Restraints
- High manufacturing cost is anticipated to be a major constraint for the market.
- The market's development is constrained by the short shelf life of organic cosmetics and the availability of innovative beauty treatments.
COVID-19 Impact on Organic cosmetics Market
Due to the compulsory closure of the brick and mortar, the outbreak of covid-19 has resulted in supply chain delays, ultimately having a detrimental effect on cosmetics and personal care goods, including organic skin care products. However, the outbreak of covid-19 has contributed to shifting consumer tastes and is proactively searching for clean branded goods, which in turn is projected to drive their growth at a faster pace throughout the forecast timeframe. In order to increase sales of their cosmetics and personal care goods at least during the near term, or before the pandemic stops, main players must endorse the online channels/door distribution choices. Nevertheless, the drop in in-store revenue is not balanced by increased online sales.
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The organic cosmetics market players are leaning towards expansion of different production facilities besides opting for strategic collaborations to attain competitive edge. Garnier, for example, launched a new organic range in 2019 to increase revenue. It has launched a new collection of skin care to help meet customers' shifting tastes. Some of the key manufacturers are Estee Lauder, L'Oréal Group, WELEDA Inc., Groupe L' OCCITANE, KORRES Group, The Clorox Company, The Honest company, Himalaya Drug Company.
Table Of Content
1. Executive Summary
1.1. Global Market Overview
1.2. Summary of Key Statistics
1.3. Summary of Key Findings
1.4. Product Evolution Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.1.1. Trend of Growing Consciousness About Grooming Among Consumers
3.1.2. Product Premiumization
3.1.3. Consumers Selecting for At-home Services, Using e-Commerce
3.1.4. Rise in Cosmetics Trial Ups Consumption
3.1.5. Changing Retail landscape
3.1.6. Globalization Impacting Lifestyles
3.1.7. Packaging, A Key To Brand Differentiation For Cosmetics
3.2. Product Innovation Trends
3.2.1. Companies Increasingly Spending on R&D and Stepping Up Innovation
3.2.2. Growing Consumer Interest in Multifunctional Products
3.2.3. Prominent Players are Now Diversifying Into other Profitable Segments
3.2.4. Evolution in Product Design
3.3. Evolution of Cosmetics Industry
3.3.1. Key Developments Roadmap
3.3.2. Product Launches
3.3.3. Acquisition & Mergers
3.4. Future Prospects of Cosmetics Industry
3.4.1. Factors Fuelling Growth
3.4.2. Influx of Brands
3.4.3. Increasing Demand of Herbal/ Natural Products
3.4.4. Innovative Distribution & Marketing Strategies
4. Impact of Covid-19 on The World, and Economies
4.1. Covid-19 The Situation Now
4.2. The Effects of National Lockdown on Various Countries
4.3. Scenarios For The Economic Impact of The Covid-19 Crisis
4.4. Industries Affected By Coronavirus Outbreak Worldwide
4.5. Projected Recovery for Hardest Hit Sectors
4.6. Coronavirus Impact on The World of Work
4.7. Impact of Covid-19 on Manufacturing Industry
4.8. Manufacturing Purchasing Managers Index, 2020
4.9. Impact of Covid-19 on Supply Chain Worldwide
4.10. Planning & Managing During Covid-19 Pandemic
4.11. Upcoming Pointers Business Leaders Should Focus On
5. The Massive Impact of the Crisis
5.1. An economic and labor market shock impacting the production, consumption and investments
5.2. Impact of declining global growth on unemployment based on three scenarios, world and income groups
5.3. Countries in action: How have countries been responding?
5.4. The Economic Impact of the COVID-19 Outbreak on Developing Asia
5.5. Impact of COVID-19 on the Gross Domestic Product of Selected Economies
5.6. Current Economic Projection - GDP/GVA and probable impact
5.7. Comparison of SAARs and market recovery, comparison to 2008 financial crisis and market recovery and forecast comparison for recovery of COVID 19
5.7.1. Cluster Wise Comparison of all Key Countries (USA, Italy, Spain, Germany, France, UK, China, India, South Korea, Japan, Iran etc.)
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About the Study
The study offers readers a comprehensive assessment of the organic cosmetics market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of product type (skin care, hair care, makeup, body care), end user( me, women, unisex, baby) sales channell (Hypermarkets/Supermarkets, Convenience Stores, Specialty Stores, Direct Selling, Departmental Stores, Online Retailing and others) and across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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