Consumer product industry analysts predict that the ASEAN organic cosmetic market is set to reach a value of USD 9,484.4 million by 2033. They anticipate a steady Compound Annual Growth Rate (CAGR) of 5.2% for ASEAN organic cosmetic providers until 2033, starting from a valuation of USD 5,605.4 million in 2023.
The increasing demand for vegan and cruelty-free cosmetics reflects the growing impact of ethical consumerism within the ASEAN organic cosmetics sector. Vegan cosmetics, which are formulated without any animal-derived ingredients, cater to individuals seeking ethical and animal-friendly options.
What was once a niche trend has now become mainstream clean beauty. To meet the rising demand for clean beauty products, major cosmetics companies have entered this market or acquired smaller natural brands. Consequently, clean beauty products are now more readily available in central retail locations, making them more accessible to a broader range of customers. This trend is expected to significantly drive the growth of the ASEAN organic cosmetics market in the coming years.
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The adoption of green packaging materials is increasing in the ASEAN organic cosmetics market. Environmental-conscious customers choose products with packaging that produces little waste and causes minimal environmental damage. Aside from catering to these consumers, brands that place value on sustainable packaging also show a concern for ethical and environmentally responsible conduct in accordance with the prevalent trend of sustainability worldwide
A few ASEAN-based organic cosmetics companies provide customization and personalization options. Customers may now customize items to suit their unique skin types, problems, and preferences. This strategy appeals to people looking for customized skincare solutions while also improving the entire consumer experience. In addition to meeting the particular demands of each customer, personalized products also encourage brand loyalty by establishing a feeling of exclusivity and engagement.
Key Takeaways from the ASEAN Organic Cosmetics Market Report:
- In 2018, the market size stood at US$ 4,366.9 million.
- In 2022, the market size stood at US$ 5,308.1 million.
- Skin care segment acquired 30% of the ASEAN organic cosmetics market shares in 2023.
- Departmental stores captured 70% of the ASEAN organic cosmetics market shares in 2023.
- Thailand acquired 29.8% of the ASEAN organic cosmetics market shares in 2023.
- Indonesia captured nearly 17.8% of the ASEAN organic cosmetics market shares in 2023.
- Malaysia gained 4% of the ASEAN organic cosmetics market shares in 2023.
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“The ASEAN organic cosmetics industry is positioned for noteworthy expansion in the future years due to the increased customer preference for natural and sustainable beauty products. Organic cosmetics are expected to dramatically increase in popularity and drive revenue growth in the market due to the rising emphasis on wellness, environmental awareness, and the pursuit of healthier lives,” says an FMI analyst.
Key Companies in the ASEAN Organic Cosmetics Market:
- Innisfree
- The Body Shop (owned by Natura &Co)
- Burt’s Bees (owned by The Clorox Company)
- Human Nature
- Hada Labo (Rohto Pharmaceutical Co., Ltd.)
- Sukin (BWx Limited)
- Neal’s Yard Remedies (Neal’s Yard Remedies Ltd.)
- Dr. Organic (Dr. Organic Ltd.)
- Tata Harper (Tata Harper Skincare, LLC)
- Melvita (L’Occitane Group)
Recent Developments Observed by FMI:
- The Thai clothing business ‘LYN’ debuted Lyn Beauty in April 2022 as a vegan and cruelty-free substitute.
- In June 2021, Singapore served as the official Southeast Asian launch location for the South Korean marine beauty brand TARA. TARA aims to take on Thailand and Vietnam next to expand its SEA footprint. According to the clean beauty skincare line TARA, a high-performance, results-driven skin care spa experience can be had at home, which draws inspiration from the ocean.
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ASEAN Organic Cosmetics Market Segmentation
By Product Type:
- Skin Care
- Hair Care
- Make Up
- Fragrances
- Toiletries
- Others
By Distribution Channel:
- Departmental Stores
- Franchise Outlet
- Beauty Specialist Salon
- Direct Sales
- Chemist/Pharmacies
- Internet
- Others
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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 ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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