Lead Acid Battery market valuation will top US$ 90.5 Bn by 2031

The lead-acid battery market valuation is expected to reach US$ 54.3 Bn in 2021. Future Market Insights (FMI) analysis has forecast the lead-acid battery sales to increase at 5.2% CAGR between 2021 and 2031. According to the study, the overall market valuation will top US$ 90.5 Bn by 2031. As per FMI, the demand for AGM batteries is expected to increase at a high pace, exhibiting a 6.2% CAGR in 2021.

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The inclination of consumers towards a healthy lifestyle and the increasing demand for herbal beauty products are expected to drive the market over the forecast period. Also, the trend of veganism among millennials will encourage them to shift towards green beauty products. This trend will continue fueling the demand for herbal beauty products.

Furthermore, the adoption of beauty and grooming products due to popular media portrayal of lumbersexuals and metrosexuals is expected to drive the growth of herbal beauty products. Additionally, changing attitudes of men towards body care and beauty products and their benefits have led players to develop novel products, specifically for men.

For instance,  Kama Ayurveda an Indian-based beauty company offers a wide range of natural and herbal men’s products specially made for the new age man who works hard to d groom and maintain their skin.

Increasing focus on advancements in herbal beauty products and customer-centric approaches are expected to influence players to adopt unique marketing strategies and develop novel products which in turn, is expected to drive the herbal beauty products market.

Key Takeaways from the Herbal Beauty Products Market Study
  • Based on consumer orientation, the global herbal beauty products market is segmented into adults and kids. The adult segment is estimated to account for the largest share by 2021 end.
  • China will emerge as a highly lucrative market for herbal beauty products in East Asia.
  • The U.S. will record the highest sales of herbal beauty products in North America.
  • Backed by the presence of well-established beauty industry, the sales of herbal beauty products will pick up pace in the I.K.
  • Supermarkets are expected to remain the preferred distribution channel for herbal beauty products. However, sales via online platforms are expected to catch up soon.

 “Players currently operating in the market are focusing on innovations to expand their portolfio. Some are even targeting specific skin problems to carve a niche amidst soaring competition. Meanwhile, leading brands are expanding their availability across e-commerce platforms to gain competitive edge, said a FMI analyst.

The outbreak of the novel coronavirus pandemic has changed the face of the herbal beauty products market and has impacted the buying habits of customers. While disruptions in the supply chain dampened sales, studies suggest more people gave some time to personal and skin care as they remained indoors during an extended period of lockdown.

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An increasing number of consumers utilized their time looking for home remedies on social media platforms like YouTube and Instagram to nurture their skin. Focus on beauty consistently rose. Consequently, restrictions were lifted, sales in the herbal beauty products market recovered.

By Segmentation:

By Product Type:

  • Flooded Battery
  • AGM Battery
  • Gel Battery

By Application:

  • Transportation
    • Passenger Cars
    • LCV
    • HCV
    • Two-wheelers
    • Others
  • Motive Industrial
  • Stationary Industrial
  • Commercial
  • Residential
  • Grid Storage
  • Others

By Sales Channel:

  • OEM
  • Aftermarket

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • The Middle East and Africa (MEA)

For any queries linked with the report, ask an analyst

Competitive Analysis:

A few key players in the herbal beauty products market are Surya Brasil Organic Beauty Products, Weleda AG, INIKA, Lotus Herbals Limited, Bio Veda Action Research Co. (Biotique), Guangzhou, Liwei Cosmetics Co Ltd., Dr. Hauschka, VLCC Healthcare Ltd., Hemas Holdings PLC, Herb labo Co. Ltd, The Himalaya Drug Company, Shahnaz Ayurveda Pvt. Ltd, GROWN ALCHEMIST, Shenzhen Panni E-Business Co. Ltd., and Arbonne International LLC among others.

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