The Worldwide Sustainable Personal Care Industry is Expected to Reach $129 Billion by 2031 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Sustainable Personal Care Market By Nature, By Type, By Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031” report has been added to ResearchAndMarkets.com’s offering.
The sustainable personal care market was valued at $ 50,791.8 million in 2021, and is estimated to reach $ 129,693.9 million by 2031, registering a CAGR of 9.5% from 2022 to 2031.
Innovation is considered the key business strategy to drive economic growth, but it also plays a major role in tackling social and environmental issues, such as chemical abuse, environmental pollution, and natural resources shortages. Companies, nowadays, are facing growth limits because of various environmental issues. Challenges coming from the sustainable development of society and business imply increasing need for more intelligent innovations. Sustainability-related innovation or sustainable innovation was put forward to address this new wave of business innovation strategy to help understand how new technologies and social practices enable companies to become more sustainable.
Sustainability is an emerging trend in food and beverage, personal care, cosmetics, nutraceuticals, animal feed, and many other industries. Today, consumers are more concerned about the environment like never before, owing to the easing pollution, limited natural resource, and global warming. Thus, natural ingredients and reusable and biodegradable packaging are the key factors that consumers look at before buying any products. Besides, governments, lawmakers, and organizations are promoting sustainability, which leaves a huge impact on the growth of the global sustainable ingredients market.
Sustainable personal care products attach more health concerns than traditional ones. In general, personal care companies usually focus on the benefits and special functions their products can provide for customers, with details on the product ingredients. As a result, customers pay attention to the composition of the product. The personal care industry aims to serve consumers quickly, safely, and efficiently with the most sustainable solutions. Cosmetics manufacturers’ strive to maximize their positive impact and minimize any negative ‘footprint’ on the environment, economy, and society in general. Business strategies are being re-assessed through a sustainability lens to analyze their contribution to this overall impact.
Besides, increase in demand for natural and organic ingredients and products from consumers across the globe due to rise in awareness about health and wellness, well-informed consumers, and increase in knowledge about ingredients used in different products are the key growth drivers of the sustainable personal care market.
Skin care products are used to enhance and maintain the appearance of human skin. There are a variety of products available in the market, such as cleansers, toners, body lotions, oils and serums, and creams with alpha-hydroxy acids, beta-hydroxy acids, and retinol as some of their key ingredients. These products aid in regular replenishment of the dying skin cells and counter the signs of aging, such as wrinkles, fine lines, and age spots while maintaining overall skin health. The global skin care products market is highly diversified as it varies from region to region catering to a wide range of skin types present across the globe.
The improving quality of life, the positive effects of sustainable personal care on self-esteem and social interaction, and the gradual consumer shift toward premium and luxury cosmetic brands are a few factors that are likely to propel the market growth during the forecast period.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the global sustainable personal care market along with the current and future trends to elucidate the imminent investment pockets in the market.
- Current and future trends are outlined in the report to determine the overall market attractiveness and single out profitable trends to gain a stronger foothold in the market.
- The report provides information regarding drivers, restraints, and opportunities with impact analysis.
- A quantitative analysis of the current market and estimation for the same from 2021 to 2031 is provided to showcase the financial competency of the market.
- Porter’s five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
- Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
- Competitive intelligence highlights business practices followed by leading market players across various regions.
Key Market Segments
By Nature
- Organic
- Natural and Green
By Type
- Skin Care
- Hair Care
- Oral Care
- Hygiene Products
- Others
By Sales Channel
- Hypermarkets and Supermarkets
- Specialty Stores
- Online Retail
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- Australia
- South Korea
- India
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- Saudi Arabia
- South Africa
- UAE
- Rest of LAMEA
Key Market Players
- Coty Inc.
- Colgate Palmolive Company
- Estee Lauder Companies Inc.
- Johnson & Johnson
- Kao Corporation
- L’Oreal S.A.
- L’Occitane Group
- The Procter & Gamble Company
- Unilever plc
- weleda uk
For more information about this report visit https://www.researchandmarkets.com/r/gb8cm
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
[email protected]
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
