Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Europe & Asia Pacific Herbal Beauty Product Market 2017–2027
Herbal beauty products are produced from active bio ingredient and enhance the skin of the human. They improve the biological function of skin while providing various beneficial nutrition essential for the skin. Herbal beauty product composed of hair, skin, body care, and color cosmetics that are free from chemicals and other harmful ingredients. These products are ideal for sensitive skin as they are gentle by nature depending on the ingredient used during the production. Furthermore, herbal cosmetic provide excellent soothing effects on the skin along with the essential nutrition required for healthy skin. They are also beneficial for the skin repairing and facilitating the growth of smooth and glowing skin.
Europe & Asia Pacific herbal beauty product market is projected to reach around US$ 2,667.3 million by the end of 2027, in terms of revenue, growing at CAGR of 3.8% during the forecast period (2019-2027).
Growing demand for natural herbal products in Europe and Asia Pacific region is projected to propel the market growth of herbal beauty products. Growing awareness about the health benefits of herbal and natural ingredients across both the region are raising adoption of greener products. Hence, rising awareness regarding the health benefits of herbal beauty products is projected to foster the market growth over the forecast period.
The growing cosmetic industry in the Europe and Asia Pacific region is projected to augment the market growth. According to the Premium Beauty Media, in 2017, the European cosmetics market was valued at 77.6 billion euros, which makes Europe remain the largest market for cosmetic and personal care products in the world. This is expected to accelerate the market growth of herbal beauty products in the Europe and Asia Pacific region.
On the basis of the region, Asia Pacific dominated the Europe & Asia Pacific herbal beauty product market in 2018, accounting for 63.0% share in terms of value, followed by Europe.
Figure 1. Europe & Asia Pacific Herbal Beauty Product Market, Revenue Share (%), By Region, 2018
Herbal beauty products do not contain preservative due to which it has shorter shelf-life and are also highly prone to microbial contamination. Due to this herbal beauty products experience discoloration, instability, product separation, and bad odors. There are limited availability of natural preservatives which can be used to save the herbal beauty products. This factor is expected to hinder the market growth.
The cost of raw materials used to produce herbal beauty products is relatively high as compared to conventional beauty products. This is due to fluctuation in the supply of raw materials which impacts the overall cost of the product. Hence, the high cost of the raw materials is expected to curb the market growth of herbal beauty products over the forecast period.
Continuous product innovation by major players in order to expand their presence is expected to offer enormous growth opportunity to the market of Europe and Asia Pacific herbal beauty products. For instance, in December 2019, Netsurf, one of the leading direct selling companies in India, introduces ‘Rang Dé’, an Herbal Colour Cosmetics range. Rang Dé caters to the new age Indian women who are not only conscious about what their skin inhales but are also kind to the environment.
Regulatory bodies across the Asia Pacific and Europe region are encouraging the manufacturer to use natural and herbal ingredients in skincare products. European Commission stats that regardless of the manufacturing processes or the channels of distribution, cosmetic products placed on the EU market must be safe. The manufacturer is responsible for the safety of their products and must ensure that they undergo an expert scientific safety assessment before they are sold.
Figure 2. Europe & Asia Pacific Herbal Beauty Product Market – Opportunity Analysis
The growing trend of shopping online is expected to accelerate the market share of herbal beauty products. Changing consumer preferences for shopping due to changing lifestyles and changing lifestyles is expected to be a major driving factor for the market. Rising adoption of smartphone and advancement in technology is further anticipated to foster the growth of Europe and Asia Pacific herbal beauty product market.
A growing sense of fashion among consumers and aspire to look good is projected to foster market growth. Moreover, growing male grooming product segments across Europe and Asia Pacific region is also projected to propel the market growth over the forecast period.
Figure 3. Europe & Asia Pacific Herbal Beauty Product Market, Revenue Share (%), By Product Type, in 2018
On the basis of product type in 2018, skin care segment has accounted the largest market share of 46.3% in terms of value, followed by hair care and oral care.
Figure 4. Europe & Asia Pacific Herbal Beauty Product Market – Value Chain Analysis
Key players operating in the Europe & Asia Pacific herbal beauty product market are Bio Veda Action Research Co., VLCC Personal Care Ltd., Surya Brasil, Dabur India Ltd, Himalaya Global Holdings Ltd, Lotus Herbals, Hemas Holdings Plc, Sheahnaz, Herbals Inc., and Herbalife International of America Inc.
Few Recent Developments
Dabur India Limited
- In October 2015, the company launched Vatika Jasmine, which is a non-sticky coconut hair oil, in order to strengthen its presence in the hair oil market. The product was launched by a celebrity and contains coconut oil and jasmine extracts, and silicon oils that impart smoothness to the hair.