LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global organic skincare products market to grow at a CAGR of over 10% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global organic skincare products market for 2016-2020. The report lists organic face creams and body lotions as the two primary product segments in the market.
Synthetic chemicals are used for the extraction of natural ingredients to prepare natural personal care products, whereas organic personal care products are produced without the use of synthetic chemicals. Consumers are increasingly preferring organic products over those labeled "natural."
Organic skin care products tend to have a shorter shelf life as they do not contain preservatives, and generally last less than a year. Manufacturers are investing in the development of product formulations that allow longer shelf lives in order to meet customer expectations. For instance, Zkin Organics has formulated a unique product by blending five natural ingredients that last for 18 months without airless pump technology.
Technavio consumer and retail analysts highlight the following three factors that are contributing to the growth of the global organic skincare products market:
- Demand for chemical free products
- Demand for multifunctional organic skin care products
- New formulations in organic skin care products
Demand for chemical free products
Consumers are paying more attention to ingredients in skin care products, preferring natural and organic ones over those that contain chemicals or ingredients that could cause harmful side effects.
According to Brijesh Kumar Choubey, a lead analyst at Technavio for cosmetics and toiletry research, “The growing aging population has led to high demand for natural and organic anti-aging creams, moisturizers, and body lotions, and this is likely to continue during the next five years.” Consumers perceive natural and organic products to be safe and of high quality. Oils from natural sources such as argan, marula, almond, and coconut are popular ingredients used in organic skin care products. In 2014, Oriflame launched a natural care moisturizing cream with aloe vera extracts to moisturize the skin.
As organic products have few harmful effects, many large companies are launching natural and organic products to gain greater market shares. For instance, Burt's Bees has launched renewal face care products made up of natural and organic ingredients to reduce wrinkles and lines. The growing demand for the use of natural and organic skin care products is encouraging new manufacturers to enter the market.
Demand for multifunctional organic skin care products
There is significant demand for multifunctional products because of the convenience they offer in terms of time and function. Personal care and beauty products that offer multiple benefits are popular in the market today, especially among consumers who have busy schedules and are cost conscious, and therefore opt for streamlined solutions. True Natural BB cream and Lavera Beauty Balm are examples of such products which act as serums, moisturizers, primers, foundations, and sunscreens to give consumers a youthful, bright, and even skin tone. Products containing both hydrating ingredients and antioxidants are popular among consumers.
New formulations in organic skin care products
Brand image and customer loyalty are the cornerstones of the organic skin care market. While consumers stick to familiar brands, they also seek variety in terms of product offerings. Manufacturers invest considerably to augment their R&D capabilities and focus on broadening their product portfolios. Continuous product innovation constitutes one of the major growth drivers of any market. For instance, the Bobbi Brown brand focuses on product innovations and has gathered rave reviews in terms of innovation in recent times. The Bobbi Brown Intensive Skin Serum Foundation SPF 40 provides natural-looking make-up coverage and results in healthy and beautiful skin.
Beiersdorf worked with the Swiss Institute of Technology in Zurich and in 2015 revealed how skin cells protect themselves from the stress caused by environmental influences naturally. The company is trying to use this insight to develop skin care products that prevent skin sensitivity and aging caused by environmental influences by fortifying the recognized natural skin function. “New product launches will successfully garner consumer interest and drive the growth of the market during the forecast period,” says Brijesh.
Top vendor offerings:
| Company | Brands | |
| Beiersdorf | La Prairie, Florena, Nivea | |
| Estée Lauder | Aveda | |
| L'Oréal | The Body Shop, Kiehl’s | |
| Shiseido |
Bare Escentuals |
|
| The Clorox Company | Burt's Bees | |
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Source: Technavio |
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