The global organic personal care products market is envisaged in a report by Transparency Market Research (TMR) to hold a fragmented characteristic because of the presence of a number of local and international players. Development of enhanced products at affordable cost could be highly adopted as a go-to strategy to gain an upper hand over other players of the market. Players are expected to involve themselves in intense rivalry while looking to take a commanding position of the market. The Body Shop, Yves Rocher, Hain Celestial Group, and Estée Lauder are some of the leading companies of the industry.
TMR has foretold the global organic personal care products market to be valued at a US$15.6 bn by the end of 2020. By product, organic skin care could showcase its dominance on the market in the coming years. On the basis of region, North America is envisioned to take hold of a larger share of the market in the near future.
Benefits of Organic and Natural Products Open the Door to Manufacturers
Demand for organic personal care products is anticipated to gain momentum in growth due to rising awareness about the benefits of using organic and natural products. Growth of the international organic personal care products market could be helped with the implementation of various guidelines and policies that promote manufacturing across different countries.
Personal care product manufactures are being largely encouraged to introduce organic offerings due to their spurring sales rate. Personal care products bearing a natural or organic label could be extensively sold in the global market. Demand in the world organic personal care products market is foreseen to increase on the back of the availability of a vast array of skin care and hair loss management products. Introduction of new flavors and product innovation on the part of packaging could expand the scope of growth in the market.
Exorbitant Cost of Manufacturing Natural and Organic Products Taxes Players
Fluctuating supply of raw materials is predicted to hamper the rise of the international organic personal care products market. Manufacturers could be challenged with expensive manufacturing cost putting brakes on their growth in the market. Other factors that are projected to dampen the demand for organic personal care products include labor-intensive production processes, product certification processes involving high cost, and short shelf life of some products.
However, awareness about harmful effects of chemical ingredients used in personal care products is prognosticated to increase consumer preference for natural and organic ingredients, thus auguring well for the global market. The demand for organic hair care products could swell with rising incidence of premature grey hair and dandruff problems and growing geriatric population. Europe and North America are witnessing the entry of scores of multinational companies. Asia Pacific is also showing healthy growth owing to continued consumer faith in natural and organic products.