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Global natural cosmetics market is set to reach US$ 54.5 billion by 2027

From an estimated market size of US$ 34.5 billion in 2018, global sales of natural cosmetics are expected to reach US$ 54.5 billion by 2027, at a CAGR [1] of 5.2%. According to Future Market Insights (FMI) [2], the growth is fueled by growing consumer concerns regarding the side effects of chemicals in cosmetics and toiletries, the dissemination of knowledge regarding benefits of natural ingredients and increasing ethical consumerism.

Europe will remain the largest consumer of natural cosmetics. Photo: © ksena2you / shutterstock.com

Europe will remain the largest consumer of natural cosmetics. Photo: © ksena2you / shutterstock.com

Consumer preference for organic and natural products is no more limited to the food and beverages landscape. According to Future Market Insights, sales of natural cosmetics is likely to account for over two-third of the global revenues in 2019.

The market research firm revealed that in addition to the growing popularity of natural skin care products, which are set to grow at over 5% in 2019 over the previous year, consumer preference for natural hair care products is growing even faster. Plant-based hair care products are witnessing popularity among an increasingly growing consumer demographic.

According to FMI, global sales of natural cosmetics are expected to reach US$ 54.5 billion by 2027, at a CAGR [1] of 5.2%

According to FMI, global sales of natural cosmetics are expected to reach US$ 54.5 billion by 2027, at a CAGR [1] of 5.2%

Skincare and hair care products have witnessed significant evolution in formulations wherein plant-based and organic products are trending in the cosmetics and personal care industry. A combination of hair care and skin care products accounted for over half the natural cosmetics market revenues in 2018 and the status-quo will continue in the coming years,” says FMI.

Natural cosmetics sales in Europe continue to surge

FMI opines that Europe will be the largest consumer of natural cosmetics and APEJ [3] and North America are expected to follow suit.

Europe’s love for natural plant-based ingredients combined with the region’s efforts to promote sustainability is fueling the demand for natural products.

Footnotes

[1] CAGR: Compound Annual Growth Rate

[2] Natural Cosmetics Market: Products Comprising Nutritional Ingredients Gaining Traction in China: Global Industry Analysis 2013 - 2017 and Opportunity Assessment 2018 - 2027, Future Market Insights, 170 Pages, January 01, 2019

[3] Asia-Pacific Excluding Japan

© 2019 - Premium Beauty News - www.premiumbeautynews.com
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