Increase in use of sustainable personal care due to increasing awareness regarding environment and reusable ingredients is likely to drive the growth of the global sustainable personal care market. Furthermore, the rise in demand for sustainable personal care in emerging economies further fuels the growth of the market
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 estimated to reach $129.7 billion by 2031, growing at a CAGR of 9.5% from 2022 to 2031.
The sustainable personal care market manufactures cosmetics and personal hygiene goods for consumers. Cosmetics and personal hygiene are two subcategories of personal care. Wet wipes, toothpaste, toilet paper, talcum powder, moisturizer, shaving cream, razors, perfumes, pomade, nail files, makeup, lotion, lipstick, lip gloss, hair clippers, facial tissue, eyeliner, deodorant, cotton pads, cotton swabs, colognes, and cleansing pods are just a few personal care products available in the market. The global personal care industry is quite diverse, and it may be divided into two categories, namely, personal care items and personal care appliances. Personal care appliances have been increasingly popular around the world in recent years, and creative products on the market each year are fueling the demand for a sustainable personal care market.
One of the major drivers of the global sustainable personal care industry is the growing popularity of sustainable skin care products. When it comes to skin care, every consumer looks for new and sustainable ingredients, which 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 globe.
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The sustainable personal care market growth is quickly approaching as compared to the pre-COVID growth rates, due to the economic recovery in most emerging economies, and a stable growth rate is envisaged throughout the forecast period. Unusual situations, on the other hand, depict a bleak picture as a result of the anticipated third and subsequent waves. For decades, sustainable personal care has been used to cure a variety of ailments. There is scientific evidence that it may help with a variety of ailments, including anxiety, sadness, infection, and pain management. Antibacterial, antioxidant, and anti-inflammatory effects are thought to exist in it. These factors are projected to boost sustainable personal care market share after the COVID-19 prediction period.
The sustainable personal care market is segmented on the basis of nature, type, sales channel, and region. On the basis of nature, the market is categorized into organic and natural/green. By type, it is segregated into skin care, hair care, oral care, hygiene products, and others. Depending on sales channel, it is fragmented into hypermarkets/supermarkets, specialty stores, online retail, and others. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, the Netherlands, and the 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).
On the basis of 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 majorly attributed to the increasing demand for pesticide-free, clean label, and natural products from the consumer. Organic sustainable personal care product is made from plant ingredients that have been grown in soil that is free of pesticides, fungicides, herbicides, and synthetic fertilizers, as well as containing no genetically modified organisms (GMOs). These factors are likely to contribute to the sustainable personal care market size through the organic segment during the forecast period.
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By type, the skin care 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. Skin care products, such as serums, moisturizers, exfoliators, body lotions, and eye creams help in maintaining healthy and glowing skin. Besides, sustainable skin care products are made by using natural and organic ingredients having minimum or no side effects on human health or the environment, which is expected to fuel the demand for sustainable personal care during the forecast period.
On the basis of 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 a rise in the number of offers or discounts provided by these sites attract end users, including home consumers and institutions to purchase sustainable personal care through e-commerce platforms. Furthermore, e-commerce platforms have expanded customer reach, resulting in it becoming a major source of revenue for many businesses. Moreover, due to the rapid increase of internet-enabled mobile user bases in emerging nations, the e-commerce sector is likely to expand in the future.
North America dominated the global sustainable personal care market size and is projected to continue this trend during the forecast period. This is majorly attributed to widespread knowledge of sustainable ingredients and products in the region. The demand for sustainable personal care is increasing in the U.S. and Canada, which boosts the regional market growth. However, Asia-Pacific is predicted to have the most promising growth rate, owing to the rapid development of the health & wellness as well as the personal care industries in the region.
The players operating in the market have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market by following the sustainable personal care market trends. The key players profiled in the sustainable personal care market analysis report include, Coty Inc., Colgate Palmolive Company, Estee Lauder Companies Inc., Johnson & Johnson, Kao Corporation, L’Oréal S.A., L’Occitane Group, The Procter & Gamble Company, Unilever Plc, and Weleda.
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Key findings of the study
• The sustainable personal care market size was valued at $ 50,791.8 million in 2021, and is estimated to reach $ 1,29,693.9 million by 2031, registering a CAGR of 9.5% from 2021 to 2031.
• By nature, sustainable personal care market opportunities segments was organic and is estimated to witness the fastest growth, registering a CAGR of 9.8% during the forecast period.
• By type, the skin care segment was valued at $ 25,824.6 million in 2021, and is estimated to reach $64,207.3 million by 2031, registering a CAGR of 9.2% from 2022 to 2031 in the global sustainable personal care market forecast period.
• By sales channel, the hypermarkets/supermarkets segment was valued at $19,266.8 million in 2021, accounting for 37.9% of the global sustainable personal care market share.
• In 2021, the U.S. was the most prominent market in North America, and is projected to reach $ 36,344.5 million by 2031, growing at a CAGR of 9.1% during the forecast period.
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