As consumers display heightened
awareness for a well-groomed and pleasing appearance, the cosmetics market has
been a key beneficiary of this trend. At the same time, they are wary about the
chemicals contained in cosmetics and the resultant detrimental effects of such
ingredients. It is this white space that natural and organic cosmetic products
address. This growing demand for cosmetics that are proven to be safe has
forced manufacturers to offer organic and natural products to differentiate
their offerings in an extremely stiff competitive environment.
The global organic cosmetics market is
driven by factors that include consumer inclination towards personal hygiene
due to health awareness programmes by regional governments and aggressive
campaigns for natural nourishment products. Therefore, the demand for organic
cosmetics products is rising across regions such as North America, ASEAN, GCC,
and Asia Pacific. The ASEAN market has exhibited significant growth in the
recent past.
According to FMI report, the global organic
cosmetics market accounted for US$ 34 Bn in 2014, and is expected to reach US$
66.1 Bn by 2020, exhibiting a CAGR of 10.4% between 2014 and 2020. The ASEAN
organic cosmetics market, on the other hand, was valued at US$ 2,415 Mn in 2014.
This market is anticipated to account for US$ 4,419 Mn by 2020, reflecting a
CAGR of 9.5% during the forecast period.
Browse Full: "ASEAN Organic Cosmetics Market Analysis & Opportunity Assessment, 2014 - 2020" Report at http://www.futuremarketinsights.com/reports/details/asean-organic-cosmetics-market
FDI
Support for Retail Industry in ASEAN Will Drive the ASEAN Organic Cosmetics
Market
Some of the factors driving the ASEAN
organic cosmetics market are: Increasing investments in retail industry by
international players, FDI support in ASEAN retail market, increased organic ingredients
harvesting, growing demand for specialized products, and cross-border supply of
capital and labour. Moreover, increasing health and skin problems resulting
from the tropical climate and pollution in this region will drive the ASEAN
organic cosmetics market in the near future.
However, high prices of specialized
products will potentially restrict the acceptance of organic cosmetic products among
the medium class population. Nevertheless, availability of natural ingredients and
cheap cost of labor in ASEAN will entice international players to set up their
manufacturing plants in countries such as Thailand and Philippines. This will
help to offer organic cosmetics at an affordable price.
The ASEAN organic cosmetics market is
mainly segmented on three fronts: Application, distribution channels, and
countries.
On the basis of application, the ASEAN
organic cosmetics market is segmented as: Hair care, skin care, makeup,
toiletries, fragrances, and others. Among all the aforementioned segments, hair
care segment is projected to hold a 28.2% revenue share of the market by 2020.
However, the skin care segment is expected to exhibit a significant growth rate
of 9.7% during the forecast period.
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Beauty
salons to dominate the ASEAN organic cosmetics market with a 23% share
Website: Future Market Insights
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