The world’s demand for organic skin products is going up as more and more people become increasingly aware of environmental issues and health effects. Future Market Insights, a research firm, took note, and looked into the market to see where it would go, and noted that the global market would continue to grow and grow over the next couple of years.
According to their latest research, the global natural cosmetics market will hit US$ 54.5 billion in value by 2027, from the last recorded value of US$34.5 billion in 2018. They note that the market’s value will go up to their thanks to growing consumer concerns over the side effects of the chemicals found in cosmetics and toiletries, as well as the greater access to knowledge of the benefits of natural ingredients, on top of the world’s increasing ethical consumerism.
Future Market Insights also looked at other markets, noting how consumer preference for organic and natural products is also growing in the food and beverages market. They say that the natural cosmetics segment will likely comprised two-third of the cosmetics market’s global revenues by the end of 2019.
The market research firm also noted that how consumer preference for natural hair care products is growing in an increasing rate. Plant-based hair care products are becoming more and more popular, with the report saying that organic skin products and hair care products have been improving in formulation in the past years, and they’re trending in the market now, with the combination of these two segments accounting for more than half of the natural cosmetics market’s revenues, and they think that the status-quo will only be maintained within the foreseeable future.
The FMI looked at the market by region, and forecasted that the region that’ll be the largest consumer for natural cosmetics in the world will be Europe, with North America to follow in 2nd place. The firm notes that the region’s infatuation with natural, plant-based ingredients, combined with the regional efforts to promote and develop sustainability is fuelling growing demand for natural products, not just for cosmetics, but for other products as well.