Organic Skincare Market to Enjoy Sales Revenue Growth of 80% By 2028 | Millennials are the Key Target for Players | SkyQuest Technology
Global organic skincare market was valued at USD 9.75 Billion in 2021, and it is expected to reach a value of USD 17.57 Billion by 2028, at a CAGR of 8.78% over the forecast period (2022–2028).
Westford, USA, Dec. 07, 2022 (GLOBE NEWSWIRE) — Organic skincare is one of the fastest growing segments in the global beauty market, with sales increasing by over 20% in the past two year. SkyQuest’s analysis of the organic skincare market reveals that this growth is being driven by a number of factors, including a growing awareness of the benefits of organic ingredients, an increasingly health-conscious consumer base, and a shift towards more natural and sustainable beauty products.
In terms of product types, organic facial skincare is the largest category within the organic skincare market, accounting for almost 60% of total sales. This is followed by organic body care (including hand & body lotions, body oils, and soaps) and organic hair care products. One of the key drivers is a growing awareness of the benefits of organic ingredients. Consumers are becoming increasingly conscious of the potential harmful effects of synthetic chemicals on their health, and are seeking out natural alternatives that are gentle on both their skin and the environment.
SkyQuest’s analysis shows that the demand for organic skincare market is highest in North America and Europe, where consumers are willing to pay premium prices for quality products. In Asia-Pacific, demand is growing at a fastest CAGR but penetration is significantly low due to lower incomes and lack of awareness about organic products. However, this region is expected to experience strong growth in the future as incomes rise and more people become aware of the benefits of organic skincare products and their benefits over traditional products.
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Marketers in organic skincare market should focus on the following four areas to tap into this growing market:
- Transparency: With more and more consumers becoming aware of the harsh chemicals used in many conventional skincare products, they are now turning to organic and natural alternatives that are transparent about their ingredients and manufacturing process.
- Sustainability: Sustainability is another key trend driving the growth of organic skincare. Consumers are increasingly looking for products that are eco-friendly and have a minimal impact on the environment.
- Personalization: With the rise of social media and the popularity of unboxing videos, consumers in the global organic skincare market are now looking for skincare products that are tailored to their specific needs and preferences. This has led to an increase in demand for customized and personalized skincare products.
- Natural ingredients: Consumers are also becoming more aware of the benefits of natural ingredients over synthetic ones. They are therefore more likely to choose organic skincare products that contain natural ingredients such as fruits, vegetables, and essential oils.
However, SkyQuest also notes that there are some challenges that could limit the growth of the organic skincare market. These include the high cost of organic skincare products and the limited availability of these products in certain regions. Overall, the outlook for the market is quite positive and they expect it to continue to grow at a healthy rate in the coming years.
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Millennials are the Key Target for Players in Organic Skincare Market
The rise of social media and online influencers has helped to drive demand for organic skincare. These influencers often promote natural and clean beauty products, which has helped to increase awareness of organic skincare options. Our analysts note that millennials are a key target demographic for organic skincare brands. This generation is more likely to be concerned about environmental issues and their own personal health, making them more likely to purchase organic skincare products.
The report on the global organic skincare market found that the majority of millennial consumers are willing to pay more for organic skincare products, with 64% of respondents saying they would pay up to 20% more. This indicates a strong demand for high-quality organic skincare products. It is also found that the top reasons for purchasing organic skincare products were ‘I believe they are better for my health’ (52%) and ‘I believe they are better for the environment’ (50%). This highlights that many consumers are interested in buying products that have a positive impact on both their own health and the planet.
With the demand for organic skincare products set to continue growing, SkyQuest report provides valuable insights into what consumers are looking for from these products.
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SkyQuest Survey of Organic Skincare Market Reveals, Consumers are Willing to Pay More to Get their hands on Quality Organic Skincare Products
The results are in from SkyQuest’s annual survey of organic skincare market and, as expected, they’re pretty convincing. We conducted a survey across the US, the UK, France, Canada, India, Germany, and Italy. Over 1,800 people participated in the survey. A whopping 97% of respondents said they would recommend organic skincare products to a friend and 96% said they would purchase them again. As for the products themselves, 80% of survey respondents said they were “satisfied” or “very satisfied” with the organic skincare products they used, while just 3% said they were “dissatisfied.” Even more impressive, when asked if they noticed any difference in their skin after using organic skincare products, an overwhelming 92% said yes!
So what’s driving this enthusiasm in global organic skincare market? For starters, it’s the ingredients. People are becoming more aware of the potential dangers of synthetic chemicals and are looking for natural, safe alternatives. Additionally, organic skincare products are often vegan and cruelty-free, which is important to many consumers. Finally, there’s the price. Organic skincare products can be a bit more expensive than their conventional counterparts, but survey respondents indicated that they feel the extra cost is worth it. When asked if they would pay more for an organic skincare product, 71% said yes.
Key Players in the Global Organic Skincare Market
- Shiseido Company Limited (Japan)
- Natura & Co. (Brazil)
- The Estee Lauder Companies (US)
- Yves Rocher (France)
- True Botanicals (US)
- Tata Harper (US)
- The Hain Celestial Group (US)
- Weleda AG (Switzerland)
- Arbonne International (US)
- Purity Cosmetics (100% Pure) (US)
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