Shifting Paradigms: Natural Cosmetics Market to Exceed US$ 79.6...

Shifting Paradigms: Natural Cosmetics Market to Exceed US$ 79.6 Billion by 2033

Posted 2024-03-11 11:16:24

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As per newly released data by Future Market Insights (FMI), the natural cosmetics market is estimated to reach at US$ 48.4 Billion in 2023 and is projected to reach US$ 79.6 Billion by 2033. The market is expected to grow at a CAGR of 5.1% from 2023 to 2033.

Companies operating in the natural cosmetics market are aiming at unique and focused differentiating strategies to expand their business landscape and to address the demand of an expanding pool of consumers.

The demand for natural cosmetics will continue to grow as consumers become more health-conscious and environmentally aware. Hence, surging demand for organic and plant-based products along with greater availability of natural cosmetic products on mainstream retail channels will fuel the growth of the natural cosmetics market in the upcoming years.

In 2021, Global Bioenergies announced the introduction of a new cosmetic ingredient that is naturally sourced isododecane, which can now be used in the large products of skincare and haircare.

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The future of the natural cosmetics market looks quite promising primarily due to the growing awareness of the harmful effects of synthetic ingredients. Consumers are becoming increasingly aware of potential health risks associated with synthetic ingredients usually found in cosmetics such as parabens, phthalates, and synthetic fragrances.

With personal care and beauty products gaining prominence over the past few years, concerns regarding the ingredients play an active role in the sales of cosmetic products which, in turn, augurs well for the natural cosmetics market. Prevailing environmental consciousness also has a positive impact on the market growth of natural cosmetics. This is because many consumers are seeking products that are sustainably produced and have less of an impact on the environment.

During the forecast period, the natural cosmetics market will be driven by the increasing availability and accessibility of natural cosmetic products. With the continuous growth of the market, many companies are entering the market and making natural cosmetic products more widely available to consumers. The availability of these products in mainstream retail also augurs well for overall market growth.

In addition, advancements in technology and formulations also aid the expansion of the natural cosmetics market size. The natural cosmetics industry is constantly innovating and developing new formulations that are more effective and can compete with conventional cosmetics in terms of performance. Overall, the natural cosmetics market is expected to continue to grow as consumers become more health and environmentally conscious and demand for natural and organic products continues to rise.

Key Takeaways:

Increasing use of plant-based ingredients as well as constant innovation and new product development will strengthen prospects for the natural cosmetics market.
In China, the natural cosmetics market is driven by the surging awareness of the adverse effects of synthetic ingredients in cosmetic products.
In 2022, the natural cosmetics market in the US accounted for 82.3% share of the North American market, and robust growth is predicted for the market in the forthcoming years.
Based on type, the skincare segments account for a sizeable portion of the natural cosmetics market share.
By consumer orientation, women will continue to dominate the market during the assessment period.

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