Organic cosmetic is a preparation of cosmetic products by using naturally farmed ingredients. These ingredients have higher levels of antioxidants and are produced without the use of genetically modified organisms (GM) and synthetic fertilizers. Moreover, organic cosmetics do not contain any synthetic colors, fragrances, and dyes. The manufacturing process is completely transparent and all the ingredients are biodegradable protecting the environment and health of the consumer.
Asean organic cosmetics market was valued at US$ 3,944.5 Million in 2021 in terms of revenue, exhibiting a CAGR of 7.8% during the forecast period (2022 to 2030).
Drivers
The market growth of ASEN organic cosmetics can be attributed to the high production of organic ingredients due to the wide availability of resources. As per the report published by Foreverest Resources Ltd. in October 2018, the natural and organic personal care market is expected to reach nearly $20 billion by 2022, and the most rapid growth is coming from the Asia Pacific (APAC) region. In 2020, 34% of beauty products launched in APAC nations carried a sustainable or organic claim.
Market Restraints
Inappropriate certification of organic chemicals in the Asia Pacific region in terms of product acceptability by the consumer is expected to hamper the market growth of organic cosmetics. The high cost of the organic cosmetic product and the complex manufacturing process of organic cosmetics is further expected to hamper the market growth of organic cosmetics. Moreover, the packaging of organic cosmetics requires major capital which is projected to curb the market growth of organic cosmetics.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 3,944.5 Mn |
| Historical Data for: | 2017-2020 | Estimated Year | 2022 |
| Forecast Period 2022 to 2030 CAGR: | 7.8% | Forecast Period: | 2022-2030 |
| Geographies covered : |
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| Segments covered: |
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| Companies covered: |
Estée Lauder Inc., L’Oréal Group, WELEDA Inc., Groupe L’OCCITANE, and KORRES Group |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Market Trends
The rising trend of spending on personal care by the consumer is expected to boost market growth over the forecast period. Improving living of standards coupled with the rising GDP and the growing trend of using green ingredients among manufacturers is also expected to offer immense growth opportunities to the market of organic cosmetics. Expanding retail industry in the ASEAN countries and ongoing urbanization, especially in countries such as Singapore, India, Malaysia, and Thailand, will further favor the market growth of organic cosmetics.
Figure 1. Global Asean Organic Cosmetics Market Value Share (%), By Product Type, 2021
On the basis of product type, skin care organic cosmetic market was valued at US$ 879.5 Mn in 2021 possessing a market share of 24.5% in 2021 by value.
Figure 2. Global Asean Organic Cosmetics Market Value Share (%), By Distribution Channel, 2021
Among product type, Franchise Outlet segment held a major market share of 40% in 2021 and is expected to retain its dominance throughout the forecast period
Recent Developments
Competitive Section
Major players operating in the Asean organic cosmetics market include Estée Lauder Inc., L’Oréal Group, WELEDA Inc., Groupe L’OCCITANE, and KORRES Group.
Organic cosmetics, originated from ingredients which are certified as organic by numerous certifying institutions operating throughout the globe. These ingredients possess high level of antioxidants and are formed without the use of synthetic fertilizers and Genetically Modified Organisms (GMO). Additionally, organic cosmetics does not contain any fragrances, synthetic colors, and dyes. Organic cosmetics are manufactured to provide increased benefits such as reducing the risk of harsh skin, irritations and allergies. Organic cosmetics does not have any side effects over human body.
Market Dynamics
Based on product type, organic cosmetics market is segregated into skin care, hair care, make-up, fragrances, toiletries and others. Wherein, hair care accounted for the largest market share in terms of the revenue in 2021, and contributed for 28.3% in the same year. The major applications of organic cosmetics in hair care include hair oils, shampoos, etc.
Among country, Thailand accounted for the largest revenue share in 2021 and contributed for the revenue share of 29.3% in 2021. The regional growth is driven by increasing per capita expenditure and rising disposable income in Thailand. Additionally, Singapore region is also predicted to record fastest growth in terms of revenue during the forecast period (2022 to 2030).
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section
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