Global Organic Personal Care Market Is Expected To Reach USD 15.98 Billion By 2020
The global market for organic personal care is expected to reach USD 15.98 billion by 2020, according to a new study by Grand View Research, Inc. Increasing consumer awareness regarding the benefits offered by organic products is expected to be a key factor in developing market demand over the next six years. Product innovation, especially in the field of herbal extracts, antioxidants and exfoliants is expected to provide consumers with an array of products to choose from. Favorable regulations pertaining to use of organic products and increasing purchasing power in Asia Pacific is expected to serve as growth opportunity for this market over the forecast period.
Skin care was the largest product segment in terms of revenue in 2013, and accounted for over 32% of global revenue, estimated at USD 2.73 billion, growing at a CAGR of 9.8% from 2014 to 2020. Increasing awareness among consumers regarding harmful effects of synthetic products on the body coupled with high appearance consciousness has fuelled the demand for organic skin care products. In addition, frequent product launches and widening of distribution channels is further expected to raise the demand over the forecast period. Hair care was the second largest product segment and accounted for around 25% of market share in terms of revenue in 2013. The market is expected to witness significant growth, at an estimated CAGR of 9.6% from 2014 to 2020.
The report “Organic Personal Care Market Analysis By Products (Skin Care, Hair Care, Oral Care, Cosmetics) And Segment Forecasts To 2020,” is available now to Grand View Research customers directly at http://www.grandviewresearch.com/industry-analysis/organic-personal-care-market
Further key findings from the study suggest:
• In terms of revenue, North America dominated the global market accounting for over 35% of total market revenue, valued at USD 2.95 billion in 2013. The market is expected to witness swift growth at an estimated CAGR of 9.8% from 2014 to 2020 due to easy availability of products provided by various multinational and domestic companies.
• In Europe, Germany and France accounted for over 30% of market demand in 2013 and are expected to witness rapid growth, at an estimated CAGR of 10.0% and 9.6% from 2014 to 2020, respectively owing to increase in affluent population and awareness of benefits related to organic products.
Request For The Sample Of This Study @ http://www.grandviewresearch.com/industry-analysis/organic-personal-care-market/sample
For the purpose of this study, Grand View Research has segmented the global organic personal care market on the basis of product and region:
• Organic Personal Care Product Outlook (Revenue, USD Million, 2012 - 2020)
• Skin Care
• Hair Care
• Oral Care
• Other Products
About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/
Corporate Sales Specialist, USA
Grand View Research, Inc
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.