ID: MRFR/CR/2516-HCR | February 2021 | Region: Global | 110 pages
The Herbal Skincare Products Market is projected to grow with a significant growth rate of 5.6% from 2019 to 2024 and reach a market value of USD 2.31 billion by the end of 2024. The growing lifestyle changes and bad eating habits have a bad impact on the skin.
herbal skincare products market has a wide application and have been recognized for their ability to enhance the skin appearance when applied regularly. Mainly, these products are known to be alcohol-based and also include a series of other ingredients like chemical peels, cleansers, alongside other beneficial ingredients. But skincare products are specific and hence, can cause damage if used in any alternate sense or on any other skin type. The organized and the retail sectors are expanding their operations and hence, including a chain of skincare products belonging to various brands for the convenience of the target audience and also ensuring easy availability of the same.
Covid 19 Analysis of Herbal Skincare Products Market
The novel coronavirus has been posing various kinds of health concerns for people worldwide since it came into existence. Because of this, people are taking many tips and tricks to improve their health and immunity to protect them from the disease and its fatal effects. Also, staying at home during the lockdown, people are treating this as a newfound opportunity to improve their skin quality and reduce the bad effects that have been caused by excessive sunlight exposure, pollution, lack of sunscreen usage, and irregular skincare practices amongst others.
Owing to these trends and the growing interest of people to opt for various skin care products, the government is investing in the development and availability of these products on a large scale. Also, the prominent players of the market have a major role to play in helping the market grow as per the predicted rate of growth and reach the estimated market valuation during the forecast period. They are catering to various skin concerns and are aiming to develop products under a budget to support mass product affordability.
Herbal Skincare Products Market Dynamics
Owing to the rise of environmental issues like the rising carbon footprint, rising congestion, and pollution are increasing the harmful UV rays of this skin. This is likely to damage the skin of the target audience on a large scale that will act as a major growth driver for the market for the period.
One of the major factors that are restraining the herbal skincare products market t to grow as per the predicted figures during the forecast period is the growth in counterfeit products by the private labels. The prominent players need to resolve this issue if they wish to help the market grow as per the prediction.
The technological advancements in the skincare industry along with dermatologists closely monitoring to develop products that suit a larger audience is what favors the most for the market growth during the ongoing forecast period. Also, the players are targeting the growing degree of health consciousness amongst the global audience. There is a trend of maintaining physical appearance and skincare which is pushing the customers to largely invest and attain these products belonging to high-end brands.
The herbal skincare products market has divided all across the globe based on type, category, form, distribution channel, and region.
Based on the Type
The market has been divided all across the globe based on the type into moisturizer, sunscreen, toner, exfoliator, cleanser, and many others.
Based on the Category
The herbal skincare products market has been divided all across the globe based on the category into a conventional category and organic category.
Based on the Form
The herbal skincare products market has been divided all across the globe based on the form into liquid form, powder form, cream form, and many others.
Based on the Distribution Channel
The herbal skincare products market has been divided all across the globe based on the distribution channel into non-store-based distribution channels and store-based distribution channels. The store-based distribution channels are further sub-divided into specialty stores, convenience stores, hypermarkets, and supermarkets.
Based on the Region
The market has been divided all across the globe based on the region into the North American region, European region, Asia-Pacific region, Latin American region, and the Middle East and African region.
The herbal skincare products market has been divided all across the globe baser on the region into North American region, European region, Asia-Pacific region, Latin American region, and the Middle East and African region. The largest market share in the herbal skincare products market is held by the Asia-Pacific region as it has various highly populated countries like China and India. Also, the presence of other Asia-Pacific countries like New Zealand, Japan, and Australia drives the market demand towards this region. Moreover, the increasing personal disposable income also acts as a contributing factor. Asia-Pacific region is anticipated to grow at a higher CAGR of 39.17%.
The second-largest market share in the herbal skincare products market is held by the European region owing to increasing urbanization and modernization in this region. Also, the presence of countries like Spain, Italy, France, Germany, and the UK drives the market demand to this region.
The third-largest market share all across the globe is held by the North American region owing to the presence of countries like Mexico, the US, and Canada. Also, the presence of various major key players in this region drives the market demand in this region. Increasing concern among people regarding skincare creates more market demand.
The least market share is observed in the Latin American region and the Middle East and African region owing to low personal disposable income coupled with low infrastructure facilities restrict the market growth in these regions. Moreover, a lack of awareness regarding the availability of products also hampers the market growth.
The most prominent major key players in the herbal skincare products market all across the globe are mentioned below:
These major key players use various strategies to sustain their market position in the herbal skincare products market in the global market by going for mergers, and acquisitions, by collaborating, setting up a new joint venture, establishing a partnership, developing a new production process, developing a new product line, innovation in the existing product, and many others to expand their customer base in the untapped market of the herbal skincare products all across the globe.
This global herbal skincare products market research report consists of the following elements mentioned below:
This market research report contains factors that drive the growth of the herbal skincare products market in the global market along with the factors that restrict its growth in the global market. The technical analysis for the growth estimation during the forecasted period is mentioned. The impact of COVID 19 on the sales revenue of the herbal skincare products market all across the globe is mentioned. The future growth rate in the herbal skincare products market during the forecasted period is estimated and mentioned.
Frequently Asked Questions (FAQ) :
Herbal skincare products market can rise at 5.6% CAGR by 2027.
By 2027, the herbal skincare products market can worth USD 2.31 Bn.
Guangzhou Landier Biotechnology Co., Ltd (China), Mario Badescu Skin Care, Inc. (US), and Lotus Herbals Pvt. Ltd (India) are some well-established herbal skincare products market players.
Environmental factors to support the herbal skincare products market.
Europe herbal skincare products market revenue to rise at decent pace in the review period.