Market Research Future published a half cooked research report on Global Herbal Skincare Products Market which is estimated to grow more than 5.5% during the period of 2017-2023
Global Herbal Skincare Products Market Information- By Type (Face Care, Body Care others), By Form (Cream, Gel, Liquid, Powder, others), By Distribution Channel (Supermarket/Hypermarket, Specialty Retailers, Convenience Stores, E-Commerce, others) and By Region Forecast Till 2023
Increasing sale of herbal skincare products is driven by rising awareness among the consumers about the benefits gained from application of natural and herbal products in its chemical-free form. High antioxidant content of herbal skincare products makes its application more significant in personal care products due to its anti-ageing properties.
Increased medicinal application of herbal skin care products as a treatment for burns and infections has resulted in the growth of the product’s share in the pharmaceutical industry. Increasing disposable income and economy development has influenced the consumers’ spending behavior leading to increased expenditure on quality products with no chemicals.
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Globally the herbal skincare products market share as one of the fastest growing skin care product range is estimated to escalate at a higher growth rate which is supported by the rising mass consumer demand for natural and effective products. Rapid urbanization and increased disposable income has led to consumers’ inclination towards purchase of personal care products with organic ingredients which also has a positive impact on this market.
All these factors will contribute to the calculated CAGR of 5.5% of herbal skincare products market during 2017-2023.
Consumption of herbal skincare products is growing at a significant rate based on high consumers demand for products containing natural ingredients such as aloe vera which give effective results and prevents skin irritations. Multi-purpose application of herbal skincare products for healing as well as enhancing the skin appearance across has led to its increased consumption globally.
As consumers are becoming more beauty conscious globally, face care products tend to hold a major share in the market. Further, based on the form, cream dominates the segment based on easy application and high shelf-life of the product.
Sale of herbal skincare products through supermarkets and hypermarkets is found to be high on a global level. This is due to consumer convenience and preference for one-stop shopping experience.
In addition, based on the adoption of advanced technology by the consumers into their daily routine and convenience shopping experience, the sale of Herbal Skincare Products through e-commerce is found to escalate at a positive growth rate.
The major key players in Herbal Skincare Products market are
- Weleda AG (Swirtzerland)
- The Himalaya Drug Company (India)
- Renpure Organics (U.S.)
- Tata's Natural Alchemy, LLC (U.S.)
- Arbonne International LLC (U.S.)
- VLCC Health Care Limited (India)
- W. Basics (U.S.)
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Herbal Skincare Products manufacturers across various regions follow the strategy of improving their existing product line by adding innovations for their business expansion. Due to consumers get attracted towards the product range leading to its growing sale.
In North America, U.S. is among the dominating countries holding a major share in herbal skincare products market and exports the product in various other countries which include Canada, U.K., China, Australia and others.
The Global Herbal Skincare Products Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Asia Pacific holds a major market share followed by North America region.
Developing economy has resulted in changed consumer’s spending behavior leasing to increased demand for herbal products from the developed countries of regions contributing to the positive growth of herbal skincare products market. U.S., China, U.K., Germany, and Singapore are the major importers of herbal skincare products.
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Adoption of chemical-free products by the consumers is considered to be one of the major drivers for this market. Increased awareness about the harmful effects of synthetic cosmetics on the skin has raised the bar for quality in the skincare domain and in turn, the market share for herbal skincare products on a global level.
Mass market penetration is leading to introduction of new products and their retail across various regions. High focus on Research and Development has led to innovations and in the product line which has fueled up the market share of herbal skincare products in global market.
High benefits obtained from herbal products is also supporting the sale of herbal skincare products globally.
Among the various type of herbal skincare products, face care products are evaluated to hold a major share as wide range of products are available in this category attracting consumers towards the product line. Cream based herbal skincare products hold a dominant share based on convenience usage and easy storage properties.
Based on the distribution channel, sale through supermarkets and hypermarkets retailers is found to hold a major share owing to one-stop purchase and easy availability of the desired product through the channel.
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