Organic Cosmetics Market is Estimated to Grow at a 5.1% CAGR by 2033 | FMI

The organic cosmetics market is expected to be valued at US$ 19.6 billion in 2022. From US$ 20.5 billion in 2023 to US$ 33.7 billion in 2033, the market is predicted to grow at a 5.1% CAGR. Natural claims have sparked the sustainability quotient in addition to being significant product purchase drivers when paired with product efficacy claims and brand identity.

The packaging trends in the personal care sector have evolved to incorporate more secure, natural formulas, and practical packaging. Natural solutions are being employed more and more in product packaging as a result of the excellent response they are receiving from the product industry. The businesses’ marketing techniques call attention to profitable container designs while also advocating natural solutions.

Customers now demand total transparency from cosmetics producers regarding their sourcing practises, goods, ingredients, and environmental practises. As the requirement to prove their social and environmental credentials develops, more cosmetics companies and manufacturers are searching for ways to redefine their own brands through sustainability-focused items, services, and customer experiences.

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Key Takeaways from the Organic Cosmetics Market Study

• FMI in its latest study has forecast the market to rise at a CAGR of 5.0% between 2021 and 2031
• The U.S. will emerge as a key market, accounting for nearly 80% of organic cosmetics market in North America
• Growth in the U.K. will remain moderate. FMI forecasts the market to record nearly 1.9% Y-o-Y growth in 2021
• While Germany and France too will continue exhibiting demand for organic cosmetics, Italy is expected to emerge as a lucrative pocket in Europe
• Japan, China, and South Korea will emerge as key markets for organic cosmetics in East Asia. Of these, Japan is likely to dominate

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Who is winning?

Estee Lauder, L’Oréal Group, WELEDA Inc., Groupe L’OCCITANE, and KORRES Group are a few notable companies in the organic cosmetics business. The Himalaya Drug Company, Babylist Inc., The Clorox Company, The Honest Company, Avalon Organics, and KORA Organics are a few examples.

To acquire a competitive advantage over other market participants, players are aggressively investing in order to encourage and support product development. The creation of an innovative product portfolio and portfolio expansion is the most popular strategy among the major businesses. Innovation is the instrument used to entice and persuade consumers to purchase a particular product category. By highlighting a product’s USP, which typically varies from one brand to another, it aids in separating one product from another.

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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