LONDON--(BUSINESS WIRE)--Future Market Insights (FMI), in its recent report titled, “ASEAN Organic Cosmetics – Market Analysis and Opportunity Assessment, 2014 – 2020”, reveals that the global organic cosmetics market is estimated to grow at a double-digit CAGR of 10.4% during the forecast period. The ASEAN organic cosmetics market accounted for US$ 2,564.7 Mn in 2014, and is expected to reach US$ 4,410.9 Mn by 2020.
Major factors driving market growth include rapid urbanisation, rising disposable income and growing preference of consumers towards healthy and hygienic products. Moreover, increasing awareness about natural products and inclination of the male consumer segment towards their outlook and appearance is also expected to fuel the demand for organic cosmetic products in the ASEAN region.
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By application, the organic hair care segment is expected to contribute US$ 1,243.1 Mn in terms of revenue to the overall ASEAN organic cosmetics market, accounting for 28.2% of the total market by 2020.
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On the basis of distribution channel, the beauty specialist salons segment was the preferred mode of distribution, accounting for US$ 601.1 Mn in 2014. This trend is expected to continue over the forecast period, followed by departmental store and franchise outlet. Beauty specialist salons sub-segment is the major contributor to growth of the organic cosmetics market in ASEAN and is projected to increase at a significant CAGR of 9.1% during 2014 and 2020.
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Key players profiled include Estee Lauder Companies, Inc, L'Oreal S.A., Weleda Inc., GroupeL’OCCITANE and W.S. Badger Company Inc.
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Future Market Insights (FMI) is a leading market intelligence and consulting firm delivering syndicated research reports, custom research reports and consulting services. Our research services cover global as well as regional emerging markets such as GCC, ASEAN and BRICS. Our offerings cover a broad spectrum of industries including Chemicals, Materials, Energy, Technology, Healthcare and Retail.