The United States was the largest market in North America and is expected to reach $36,344.5 million by 2031, growing at a CAGR of 9.1% during the forecast period
POTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, USA, July 23, 2022 /EINPresswire.com/ — The rise in the use of sustainable personal care due to growing environmental awareness and reusable ingredients is likely to drive the growth of the global sustainable personal care market. Additionally, rising demand for sustainable personal care in emerging economies is further fueling the growth of the market
Roshan Deshmukh – Manager
Consumer Goods at Allied Market Research
According to a new report published by Allied Market Research, titled “Sustainable Personal Care Market,” the sustainable personal care market was valued at $50.8 billion in 2021 and is expected to reach $129.7 billion by 2031, with a CAGR of 9.5% from 2022 to 2031. One of the main drivers of the global sustainable personal care industry is the growing popularity of sustainable skin care products. When it comes to skincare, every consumer is looking for new and sustainable ingredients that have a positive impact on health and society. Organic and natural are the emerging trends in the food and beverage and personal care industry across the world.
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Sustainable personal care market growth is rapidly approaching from pre-COVID growth rates, owing to economic recovery in most emerging economies, and a steady growth rate is envisioned throughout the forecast period . Unusual situations, on the other hand, paint a bleak picture due to the anticipated third wave and beyond. For decades, sustainable self-care has been used to cure a variety of ailments. There is scientific evidence that it can help with a variety of ailments, including anxiety, sadness, infections, and pain management. It is believed to contain antibacterial, antioxidant and anti-inflammatory effects. These factors are expected to increase the sustainable personal care market share after the forecast period of COVID-19.
The sustainable personal care market is segmented on the basis of nature, type, sales channel and region. Based on nature, the market is categorized into organic and natural/green. By type, it is separated into skin care, hair care, oral care, hygiene products and others. According to the sales channel, it is fragmented into hypermarkets/supermarkets, specialty stores, online retail, etc. At the regional level, it is analyzed in North America (United States, Canada and Mexico), Europe (Germany, France, United Kingdom, Italy, Spain, Netherlands and rest of Europe), Asia- Pacific (China, Japan, Australia, South Korea, India and Rest of Asia-Pacific) and LAMEA (Brazil, Argentina, Egypt, South Africa, United Arab Emirates and Rest of LAMEA).
Based on nature, the organic segment was valued at $28,323.2 million in 2021 and is expected to reach $74,058.5 million by 2031 at a CAGR of 9.8%. This is mainly attributed to the growing consumer demand for natural, pesticide-free and clean-label products. The organic and sustainable personal care product is made from plant-based ingredients that have been grown in soil that is free of synthetic pesticides, fungicides, herbicides and fertilizers, as well as containing no genetically modified organisms (GMOs) . These factors are likely to contribute to the sustainable size of the personal care market through the organic segment over the forecast period.
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By type, the skincare segment is expected to grow at a CAGR of 9.2% during the forecast period. Skin care products play a crucial role in human behavior. Every individual wants to look attractive by maintaining healthy and glowing skin. Skincare products, such as serums, moisturizers, exfoliators, body lotions, and eye creams, help maintain healthy, glowing skin. Additionally, sustainable skincare products are made from natural and organic ingredients with little or no side effects on human health or the environment, which is expected to fuel the demand for sustainable personal care over the of the forecast period.
Based on sales channels, the online retail segment was valued at $11,984.6 million in 2021 and is expected to reach $32,941.4 million by 2031 at a CAGR of 10.3% . An increase in the adoption of e-commerce portals in developing regions and an increase in the number of offers or discounts offered by these sites attract end users, including home consumers and institutions to purchase personal care sustainability through e-commerce platforms. Additionally, e-commerce platforms have expanded customer reach, making them a major source of revenue for many businesses. Moreover, due to the rapid increase in mobile Internet-connected user bases in emerging countries, the e-commerce sector is likely to grow in the future.
North America led the global sustainable personal care market size and is expected to continue this trend during the forecast period. This is mainly attributed to the widespread awareness of sustainable ingredients and products in the region. The demand for sustainable personal care is increasing in the United States and Canada, which is driving the growth of the regional market. However, Asia-Pacific is expected to have the most promising growth rate, owing to the rapid development of health and wellness as well as personal care industries in the region.
The players operating in the market have adopted product launch and business expansion as the key development strategies to expand market share, increase profitability and stay competitive in the market by following enduring trends in the personal care market . Key players profiled in the Sustainable Personal Care Market analysis report include Coty Inc., Colgate
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