Herbal Beauty Products Market Analysis by Product Type (Hair Care, Skin Care, Fragrance, Makeup, Color Cosmetics, and Others); by Form (Solid, Semi-solid, and Liquid); by End-User (Men, and Women); and by Distribution Channel (Offline and Online) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033
Buy Now
The global herbal beauty products market is estimated to garner a revenue of ~USD 132 billion by the end of 2033 by growing at a CAGR of ~8% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 84 billion in the year 2022. The growth of the market is primarily attributed to the worldwide growing concern for physical appearance among people along with the rising demand for beauty products. For instance, it was observed in a study that approximately 51% of 13-year-old girls in United States were unhappy with their appearance. By the time girls were 17 years old, this percentage had increased to almost 82%. Furthermore, during the pandemic lockdown, nearly 1 in every 3 adult women reported being more concerned about their appearance.
Get more information on this report:Download Sample PDF
The market share of herbal beauty products is rising as a result of the increased adoption of herbal beauty products among consumers as they offer various advantages over synthetic products. The growing preference among men and women for budget-friendly and organic beauty products is anticipated to drive the herbal beauty products market over the forecast period.
|
Base Year |
2022 |
|
Forecast Year |
2023-2033 |
|
CAGR |
~8% |
|
Base Year Market Size (2022) |
~ USD 84 Billion |
|
Forecast Year Market Size (2033) |
~ USD 132 Billion |
|
Regional Scope |
|
Worldwide Emerging Influence of Social Media on Physical Appearance – Currently, social media have been playing a vital role in our day-to-day life in the perspective of our fashion sense, personal and beauty care, and even its affecting our way of thinking to understand the ethics of what does a beauty product do to enhance our features as well. Thus, the influence of social media is fueling the growth of the herbal beauty products market as people are more aware of their beauty and body image through social media and they want to use the latest and trending stuff to enhance their looks. For instance, it was observed in some studies, around 87% of women and 66% of men compare themselves to images they see on social media.
Rising Trend of Preferring Natural Ingredients in Beauty Products – For instance, approximately 42% of individuals prefer to purchase those beauty products which have natural ingredients.
Escalating Demand for Cruelty-Free Beauty Products – For instance, as per a 2019 consumer behavior study, nearly 39% of consumers preferred to buy cruelty-free beauty products.
Worldwide Surging Trend of Vegan Cosmetics – For instance, till 2018, approximately 58% of individuals in United Kingdom have adopted vegan buying behavior while buying cosmetics products.
Worldwide Increasing Per Capita Income - According to the World Bank statistics, global annual per capita income increased by 4.8% in 2021 contrasted to 1.5% in 2019.
High Price of Raw Materials of Herbal Beauty Products – owing to the unavailability of raw materials, and the complicated and time-consuming manufacturing process. Herbal beauty products are more expensive and premium-priced than synthetic beauty products.
Increasing Count of Competitors
The global herbal beauty products market is segmented and analyzed for demand and supply by product type into hair care, skincare, fragrance, makeup, color cosmetics, and others. Amongst these, the skin care segment is anticipated to grow at a significant rate backed by the massive preference for herbal skin care products to impart a natural glow to the skin, and to tackle the increasing skin issues such as fine lines, acne, pimples, premature aging, pigmentation issues and so on. For instance, it is found that acne is the most common skin problem affecting nearly 87% of people at some point in their lives.
The North America herbal beauty products market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, backed by the surging awareness regarding the benefits of natural beauty products over chemical products, and increasing tendency in people to splurge more amount for buying expensive herbal skin care products in the region. For instance, as per a consumer survey in 2022, around 59% of American consumers stated that they prefer to pay 36–42% more for “green” versions of their typical cosmetics and personal care items.
Our in-depth analysis of the global herbal beauty products market includes the following segments:
|
By Form |
|
|
By End-User |
|
|
By Distribution Channel |
|
Forest Essentials
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Worldwide emerging influence of social media regarding the physical appearance, escalating demand for cruelty free beauty products, and worldwide increasing per capita income are some major factors driving the growth of the market.
Ans: The market is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2023 – 2033.
Ans: Increasing count of competitors, absence of global guidelines for the use of herbal beauty products, and high price of raw materials are estimated to hamper the market growth.The market in North America is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
Ans: The market in North America is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
Ans: The major players in the market are Himalaya Wellness Company, Hemas Holdings PLC, Weleda, Inc., Marc Anthony Cosmetics Ltd, Arbonne International, LLC, The Estée Lauder Companies, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by product type, form, end-user, distribution channel, and by region.
Ans: The skin care segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Submit Your Request For Proposal (RFP)
