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Market Overview:
Skincare products mostly focus on locking the moisture inside the skin to stop dehydration. Herbal skincare products are more trusted as they have minimal side-effects and better impact on the skin. The source lies in nature, which makes these products more reliable and the global herbal skincare product market is currently looking at a CAGR of 5.6% during the forecast period of 2019 to 2024. Market Research Future (MRFR) further claims in their report that USD 2.31 billion market valuation by the end of 2024 for the global herbal skincare product market would be quite achievable.
Environmental factors are expected to play a crucial role. With pollution level on the rise, people are more relying on nature-based products and this can give the herbal skincare product market substantial impetus. On the other hand, people are becoming aware of the benefits that such products have on offer. Various countries from the Asia Pacific region are cultivating such natural resources to promote the market better.
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Industry Update
In June 2019, Lotus Herbal, a prominent competitor of L’Oreal and Dabur, revealed their intention for acquisitions and expansion plans. This can boost the regional market dynamics.
Segmentation:
MRFR tried to analyze the global herbal skincare products market by segmenting it into type, form, category, and distribution channel. This segmentation has its focus set on the details of factors and growth rate to get better insights.
Based on the type, the global herbal skincare products market can be segmented into cleanser, exfoliator, toner, sunscreen, moisturizer, and others. The moisturizer segment is gaining substantial traction and is all set to record growth with notable CAGR in the coming years.
Based on the form, the Global Herbal Skincare Products Market comprises cream, powder, liquid, and others. The cream segment has good market coverage and is predicted to grow with substantial revenue during the forecast period.
Based on the category, the global herbal skincare products market consists organic and conventional. The organic segment is gaining fast recognition and is picking up speed in terms of sales.
Based on the distribution channel, the global herbal skincare products market can be segmented into store-based and non-store-based. The store-based segment can be sub-segmented into supermarkets & hypermarkets, conventional stores, and specialty stores. The supermarkets & hypermarkets segment is scoring big.
Competitive Landscape:
Prominent companies taking part in the global herbal skincare products market are The Himalaya Drug Company (India), Weleda AG (Switzerland), Lotus Herbals Pvt. Ltd (India), Koco Life, LLC (US), S.W. Basics (US), Mario Badescu Skin Care, Inc. (US), Yves Rocher Amérique du Nord Inc. (US), Eminence Organic Skin Care (Canada), Guangzhou Landier Biotechnology Co., Ltd (China), and Khadi Natural Healthcare (India). MRFR, in their report on the market, included and profiled these companies for a better understanding of the global market and its trends that can impact the outcomes of the coming years.
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Regional Analysis:
North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW) are four regions in which the global herbal skincare products market can be segmented. This attempt of a region-specific analysis of the global market by MRFR has its focus on uncovering potential regions with supportive demographic qualities.
The APAC market is playing a pivotal role in taking the global market ahead. It had a market share of almost 39.17% in 2018 and is expected to continue its dominance with the fastest CAGR during the forecast period. Several factors, such as advancements in the skin care industry, improving organized retail sector, and surge in awareness for herbal and natural cosmetics are expected to provide enough grounds to the regional players to plan their expansion. India, China, and several other Southeast Asian countries are contributing remarkably. This is possible due to the cultivation of herbs.
Europe and North America have started realizing the potential of these products. The health benefits are something that cannot be ignored. Also, the markets are opening due to the growing awareness among the population regarding the products.
Contact Info:
Name: Abhishek Sawant
Email: Send Email
Organization: Market Research Future
Address: Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune - 411028
Phone: +16468459312
Website: https://www.marketresearchfuture.com/reports/herbal-skincare-products-market-3792
Release ID: 88919700
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