Market Overview
Increasing sale of herbal skincare products is driven by rising awareness among the consumers about the benefits gained from application of natural and herbal products in its chemical-free form. High antioxidant content of herbal skincare products makes its application more significant in personal care products due to its anti-ageing properties. Increased medicinal application of herbal skin care products as a treatment for burns and infections has resulted in the growth of the product’s share in the pharmaceutical industry. Increasing disposable income and economy development has influenced the consumers’ spending behavior leading to increased expenditure on quality products with no chemicals. All these factors contribute to increased market share of herbal skin care products globally. The consumption as well as production of herbal skincare products is found to be high in Asia Pacific region and is evaluated to increase at a positive growth rate in various countries of North America, Europe.
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Market Forecast
Globally the herbal skincare products market share as one of the fastest growing skin care product range is estimated to escalate at a higher growth rate which is supported by the rising mass consumer demand for natural and effective products. Rapid urbanization and increased disposable income has led to consumers’ inclination towards purchase of personal care products with organic ingredients which also has a positive impact on this market.
All these factors will contribute to the calculated CAGR of 5.5% of herbal skincare products market during 2017-2023.
Downstream analysis
Consumption of herbal skincare products is growing at a significant rate based on high consumers demand for products containing natural ingredients such as aloe vera which give effective results and prevents skin irritations. Multi-purpose application of herbal skincare products for healing as well as enhancing the skin appearance across has led to its increased consumption globally. As consumers are becoming more beauty conscious globally, face care products tend to hold a major share in the market. Further, based on the form, cream dominates the segment based on easy application and high shelf-life of the product.
Sale of herbal skincare products through supermarkets and hypermarkets is found to be high on a global level. This is due to consumer convenience and preference for one-stop shopping experience. In addition, based on the adoption of advanced technology by the consumers into their daily routine and convenience shopping experience, the sale of Herbal Skincare Products through e-commerce is found to escalate at a positive growth rate.
Competitive analysis-
The major key players in Herbal Skincare Products market are
Weleda AG (Swirtzerland)
The Himalaya Drug Company (India)
Renpure Organics (U.S.)
Tata's Natural Alchemy, LLC (U.S.)
Arbonne International LLC (U.S.)
VLCC Health Care Limited (India)
W. Basics (U.S.)
Herbal Skincare Products manufacturers across various regions follow the strategy of improving their existing product line by adding innovations for their business expansion. Due to consumers get attracted towards the product range leading to its growing sale. In North America, U.S. is among the dominating countries holding a major share in herbal skincare products market and exports the product in various other countries which include Canada, U.K., China, Australia and others.
Regional Analysis
The Global Herbal Skincare Products Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Asia Pacific holds a major market share followed by North America region. Developing economy has resulted in changed consumer’s spending behavior leasing to increased demand for herbal products from the developed countries of regions contributing to the positive growth of herbal skincare products market. U.S., China, U.K., Germany, and Singapore are the major importers of herbal skincare products.
Market Segmentation-
Global Herbal Skincare Products market is segmented by type, form, distribution channel and region
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