Skin care is fastest growing segment fueling the growth of ASEAN Organic Cosmetics Market

 

Asean Organic Cosmetics Market 

The global Asean Organic Cosmetics Market is estimated to be valued at US$ 4583.84 Mn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Overview:

The Asean Organic Cosmetics Market comprises products such as skin care, hair care, fragrances, and other personal care products. Organic cosmetic products are manufactured using plant-based ingredients and natural extracts which are gentle on skin as compared to their chemical-based counterparts. These products are free from toxic chemicals and are suitable for all skin types.

 

Market key trends:

One of the key trends witnessed in the Asean Organic Cosmetics Market is the rising preference for multi-benefit organic products among consumers. Organic personal care brands are focusing on launching multi-benefit products that offer benefits such as anti-aging, brightening, hydration etc. For instance, organic moisturizers are being fortified with active ingredients like hyaluronic acid, vitamin C and plant extracts that hydrate the skin along with reducing signs of aging. This trend is expected to continue as consumers want products that solve multiple skin concerns in a natural way.

Segment Analysis

The ASEAN organic cosmetics market is segmented by product type into skin care, hair care, makeup cosmetics, and others. The skin care segment dominated the market in 2022 and is expected to continue its dominance during the forecast period. This is due to rising consumer awareness about the harmful effects of chemical ingredients present in conventional cosmetic products and growing preference for organic skin care products that have natural formulations and are free from harmful chemicals.

 

Key Takeaways

The Global ASEAN organic cosmetics market Size reached a valuation of US$ 4583.84 Mn in 2023. The market is expected to witness high growth, exhibiting a CAGR of 7.8% over the forecast period of 2023 to 2030 due to increasing health consciousness among consumers and growing demand for chemical-free, natural, and sustainable personal care products.

 

Regional analysis:

The skin care segment dominated the market in 2022 and is expected to continue its dominance during the forecast period. This is due to rising consumer awareness about the harmful effects of chemical ingredients present in conventional cosmetic products and growing preference for organic skin care products that have natural formulations and are free from harmful chemicals. Thailand dominates the ASEAN organic cosmetics market and is expected to grow at the fastest rate during the forecast period. This is attributed to strong domestic demand, high purchasing power, and increasing influence of western beauty trends.

 

Key players:

Key players operating in the ASEAN organic cosmetics market are Estée Lauder Inc., L’Oréal Group, WELEDA Inc., Groupe L’OCCITANE, and KORRES Group. Estée Lauder Inc. specializes in premium skincare, makeup, fragrance, and hair care products. L’Oréal Group offers a wide range of organic haircare, skincare, and cosmetic products across its brands such as Kiehl's, Urban Decay, and Maybelline New York.

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https://www.dailyprbulletin.com/asean-organic-cosmetics-market-size-share-growth-outlook-2023/

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