Definition of Market/Industry: Organic cosmetics are free of synthetic ingredients and are produced from the natural components of plants and flowers that do not have any side-effects. Organic cosmetic is manufactured to provide more benefits and reduce the risk of harsh skin, allergies, and irritations. All the natural ingredients used in organic cosmetics are certified organic by one of the best certifying institutions around the globe. Organic cosmetics are best for the environment as well as the health of humans as it is safe and does not have any side-effects. Statistics: The ASEAN organic cosmetic market is estimated to account for US$ 3,966.6 Mn in terms of value by the end of 2019 Drivers: Rising open trade across all industries in the Asia Pacific region due to liberalization and growing investment by the government is expected to open a huge scope for international trade. According to the United Nations publication, China is a leading driver of trade and investment in Asia and the Pacific region. In 2017, 34 percent of the global exports from the region were from China, and 28 percent of the imports in the region were shipped to China. Market Opportunities Growing demand for specialized products such as anti-aging, sunscreens, skin whitening creams and lotions is projected to bolster the market growth of organic cosmetics over the forecast period. Moreover, increasing demand for premium products due to increasing disposable income of the middle-class population is further expected to propel the market growth of the organic cosmetic. Market Restraints The limited shelf life of the organic product as they do not contain any synthetically prepared preservative is projected to hinder the market growth of the organic cosmetic. Moreover, the lack of brand awareness among consumers and low profitability for international players in the ASEAN region is further expected to restrain market growth. Market Trends Rising cross-border supply chain in ASEAN region, the total value of goods are mainly exported to North America, including Mexico, Canada, and the U.S. Moreover, ASEAN region has extended support for free trade contracts with countries such as Japan, South Korea, India, China, New Zealand, and Australia. This factor is projected to augment the market growth of organic cosmetics over the forecast timeframe. Expanding distribution channels by the manufacturer in order to enhance their presence and the increasing visibility of their brand via various stores, online channels, beauty salons, and departmental stores are projected to foster the market growth of organic cosmetics. Growing demand for customized products due rising number of people suffering from various skin problems especially in Thailand and Malaysia is further expected to foster the market growth of organic cosmetics. For instance, L'Oreal is innovating customized products according to various types of skin. Competitive Section: Company Names Major players active in the market are Estée Lauder Inc., L’Oréal Group, WELEDA Inc., Groupe L’OCCITANE, and KORRES Group Few Recent Developments L’Oréal Group
Segmentation By Product Type
By Distribution Channel
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