A brand-new study named “ASEAN Organic Cosmetics Market Analysis and Opportunity Assessment, 2014–2020″ has been made available by Future Market Insights. The report projects that the market for organic cosmetics will reach US$ 66.1 billion by 2020, growing at a CAGR of 10.4% during the forecast period. On the other hand, the ASEAN organic cosmetics market is anticipated to grow at a CAGR of 9.5 percent to reach US $ 4,410.9 Mn during the forecast period.
The attraction for natural nourishment and aggressive product branding, as well as rising consumer propensity to spend on personal hygiene, which is linked to health awareness programmes by regional governments, will all help fuel expansion of the worldwide organic cosmetics market throughout the forecast period.
The desire for specialised products from consumers as well as a strong cross-border supply of labour and capital are the main drivers of the ASEAN organic cosmetics business.
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The application, distribution channel, and countries in the ASEAN area are the three key segments covered in the report on the ASEAN organic cosmetics market. The market is further divided into skin care, hair care, makeup, fragrances, toiletries, and others based on application. By 2020, hair care is anticipated to hold a 28.2 percent market share. However, it is predicted that the skin care market would grow at a strong CAGR of about 9.7% over the course of the forecast year.
On the basis of distribution channel, the sub-segmentation comprises department stores, franchise outlets, beauty specialist salons, direct sales, chemist/pharmacies/drugstores, onlineselling and others. Among all the aforementioned distribution channels, the beauty specialist salons sub-segment is expected to dominate the market, accounting for 23% of the total revenue by 2020. However, franchise outlets is anticipated to demonstrate the fastest CAGR of 10.3% as compared to other distribution channels during the forecast period. Additionally, influx of new entrants is predicted to fuel growth of department stores as a favourable distribution channel for organic cosmetics, thereby accounting for 18.7% market share by 2020.
Key countries considered inthis report include Thailand, Singapore, Malaysia, Indonesia, Philippines and Vietnam.Singapore represents the most lucrative market, followed by Malaysia.Singapore is expected to contribute 8.2% market share to the overall ASEAN organic cosmetics market in the near future.Growth of the market in Singapore is supported by the robust travel & tourism industry, and increasing consumer awarenessof products with natural ingredients through various media channels.
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Assessing the various factors driving this market, FMI analyst SonalShekhar said, “Increasing consumer awareness regarding benefits of greener products, rising disposable income andincreasing investments by local companies are expected to fuel the demand for organic cosmetics in ASEAN.”
Key players profiled in this report include Estee Lauder Companies, Inc.,L’Oreal S.A.,WeledaInc., Groupe L’OCCITANE and W.S. Badger Company, Inc.
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on the basis of distribution channel:
- Departmental Stores
- Franchise Outlet
- Beauty Specialist Salon
- Direct Sales
- Chemist/ Pharmacies
- Internet
- Others
on the basis of product type:
- Skin Care
- Hair Care
- Make Up
- Fragrances
- Toileteries
- Others
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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