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Natural and Organic Personal Care on Track to $22 Billion by 2024

  • Natural and organic personal care on track to $22 billion by 2024

    by Market Insider

    Monday, 03 Oct. 2016

    Organic and natural personal care is poised to expand significantly across the globe. Going organic in the beauty world can be a significant sourcing, formulation and efficacy challenge, but there are huge rewards for doing so. According to a new analysis from Persistence Market Research the global natural and organic personal care products market will reach a value of $11bn in 2016, representing year-over-year growth of 9.7%. The trend-driven global market is projected to be valued at $21bn by the end of 2024, registering a CAGR of 8.8%. North America is expected to account for 33.5% of the global natural and organic personal care market by the end of 2016, registering a CAGR of 9.7%.
     
    A growing number of distribution channels, including digital, will fuel the expansion, along with rising consumer spending on premium brands and larger marketing and product development investments, according to the report. The increasing popularity of online retail for cosmetics and hair care will also drive growth, with top players including Walgreens, Amazon.com, Drugstore.com, Sephora.com and Vitacost. These retailers have enhanced natural and organic personal care product penetration, consumer reach and have expanded the overall consumer base. The analysis concludes that online sales for natural and organic personal care will total $2bn by the end of 2016. 
     
    Looking ahead, natural and organic skin care products will be boosted by demands for clean label products and rising numbers of health-conscious consumers. The analysis notes:
    • Natural and organic skin care will comprise 30.9% of the overall segment by 2024
    • The hair care segment will be the second largest natural and organic segment
    • Hypermarkets and supermarkets will account for 28.4% of the global retail market in 2016, with a CAGR of 9.6% through 2024
    • Specialty retailers will remain the second largest retail segment for natural and organic personal care
    • North America is expected to account for 33.5% of the global natural and organic personal care market by the end of 2016, registering a CAGR of 9.7%
    • Europe and Asia Pacific are the other top markets for natural and organic personal care products, with Japan, China and India being the major markets in Asia
     
    Source: Persistence Market Research
     

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