The products, which possess the desirable physiological properties such as smoothing appearance, healing and conditioning properties are referred as herbal beauty products. Herbal beauty products are formulated using plant extracts, plant roots, and leaves and are free of chemicals. Demand for herbal beauty products is increasing due to its low or no side effects and this is expected to fuel growth of the herbal beauty products market. Furthermore, increasing expenditure of people on beauty and personal care products is also expected to boost growth of the market.
Global Herbal Beauty Products market was valued at US$ 104.9 Billion in 2021 in terms of revenue, exhibiting a CAGR of 4.7% during the forecast period (2022 to 2030).
Drivers
Growing disposable income and changing lifestyle of people across the globe is boosting demand for herbal beauty products. Increasing trend of using natural and organic cosmetics for anti-aging, hair care, and others, in Europe is driving growth of the herbal beauty market in this region. According to the Centre for the Promotion of Imports, Europe accounted for nearly 31% of global organic cosmetics market in 2021. Stringent regulations by government bodies on cosmetic ingredients is another factor fuelling market growth. For instance, according to European Union, cosmetic ingredients are regulated under The Cosmetic Regulation, 76/768/EEC, with an objective to provide safe cosmetic products for human use.
Among regions, Asia Pacific held highest market share in 2021 of global herbal beauty products market and is expected to keep its dominance over the forecast period. Increasing awareness related to herbal beauty products and growing inclination of population towards maintaining aesthetic are expected to be factors driving growth of the herbal beauty products market in this region. According to India Brand Equity Foundation (IBEF), a trust established by the Department of Commerce, Ministry of Commerce and Industry, India, the herbal cosmetic industry is expected to grow at a CAGR of 12% in India during the forecast period. Government of India established a board, Indian System of Medicine and Homeopathy, to encourage production of herbal beauty products in the country.
Figure 1. Global Herbal Beauty Products Market Value Share (%), By Region, 2021
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Market Restraints
Lack of universal directives pertaining to applications of herbal beauty products is expected to restrain market growth during the forecast period. Every country has different directives pertaining to use and applications of herbal beauty products. Key players find it difficult to cope with such country wise regulations, which in turn is discouraging investment in the Herbal Beauty Products industry, thereby restraining market growth.
Herbal Beauty Products Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2021 | Market Size in 2021: | US$ 104.9 Bn |
Historical Data for: | 2017-2021 | Estimated Year: | 2022 |
Forecast Period 2022 to 2030 CAGR: | 4.7% | Forecast Period: | 2022-2030 |
Geographies covered: |
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Segments covered: |
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Companies covered: |
Arbonne International, LLC, Bio Veda Action Research Co., Hemas Holdings PLC, Klienz Herbal Pvt. Ltd., Lotus Herbals Limited, Marc Anthony Cosmetics, Inc., Shahnaz Ayurveda Pvt. Ltd, The Himalaya Drug Company, Vasa Global Cosmetics, and Weleda AG |
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Restraints & Challenges: |
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Market Trends
Growing awareness about organic cosmetics is expected to boost demand for herbal beauty products. Growing demand for herbal beauty products is creating opportunities for herbal beauty products. Several herbal products such as conditioners with plant-based ingredients such as virgin coconut and avocado oil are organic cosmetic products, which are used to rejuvenate weak, thin, and damaged hair follicles.
Figure 2. Global Herbal Beauty Products Market Value Share (%), By End User, 2021
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Among end user segment, the men segment held a dominant position in market in 2021 and is projected to retain its dominance throughout the forecast period. Growing awareness among women in developing & underdeveloped countries about personal hygiene is driving market.
Global Herbal Beauty Products Market - Impact of Coronavirus (COVID-19) Pandemic
Market was negatively impacted by the effect of COVID-19 pandemic. Major manufacturers such as Arbonne International, LLC, Bio Veda Action Research Co., Hemas Holdings PLC, Klienz Herbal Pvt. Ltd., Lotus Herbals Limited, and Marc Anthony Cosmetics in the herbal beauty products market have their manufacturing & supply chain bases across the globe. These players had halted production of herbal beauty products in first and second wave of COVID 19 due to lowered demand, lockdown measures, supply chain bottlenecks, and to protect the safety of their employees.
Recent Developments
Competitive Section
Major players operating in the global herbal beauty products market include Arbonne International, LLC, Bio Veda Action Research Co., Hemas Holdings PLC, Klienz Herbal Pvt. Ltd., Lotus Herbals Limited, Marc Anthony Cosmetics, Inc., Shahnaz Ayurveda Pvt. Ltd, The Himalaya Drug Company, Vasa Global Cosmetics, and Weleda AG
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