The herbal beauty products market is estimated to grow at a CAGR of ~8% by 2033, garnering a revenue of ~US$132 billion by the end of 2033.
NEW YORK, NY, United States, Jan. 4, 2023 /EINpresswire.com/ — Key Insights into the Global Herbal Beauty Products Market
During the forecast period of 2023-2033, the global herbal beauty products market is expected to reach an estimated value of around US$132 billion by 2033, expanding at a CAGR of around 8%. The market will further generate approximately US$84 billion in revenue in 2022. A major factor driving the growth of the herbal beauty products market across the globe is the growing interest in physical appearance along with the increasing influence of social media on appearance.
Market Definition of Herbal Beauty Products
Natural elements found in nature are used in herbal beauty products. The majority of the ingredients are of plant origin. Numerous clinical and laboratory studies have demonstrated the importance of using natural substances to benefit human skin and hair. We use natural herbs such as aloe vera, almonds, avocado, carrots, castor beans, clay, cocoa, coconut oil, cornmeal and cucumber to create herbal beauty products instead of chemicals.
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Global Herbal Beauty Products Market: Growth Drivers
The growth of the global herbal beauty products market can be largely attributed to growing concerns about appearance among people around the world. We found that 51% were dissatisfied with their appearance. This number increased to about 82% by the time the girl turned 17. Additionally, nearly one in three of her adult women reported feeling self-conscious during the pandemic lockdown. In addition, social media has become an integral part of our daily lives in terms of our eating habits, fashion sense, personal care, and even how we think about the ethics of how beauty products improve our appearance. As a result, the market for herbal beauty products is growing due to the influence of social media. Through social media, people are becoming more conscious of their appearance and body image, wanting to take advantage of the latest hot products to make them more beautiful. For example, according to one study, 66% of men and 87% of women compare themselves to photos on social media.
The global herbal beauty products market is also estimated to grow mainly due to:
Growing preference for natural ingredients in beauty products
Growing demand for cruelty-free beauty products
Rapid increase in vegan cosmetics
Global Herbal Beauty Products Market: Restraining Factors
These herbal products can damage the skin in some cases.People may be prone to allergies. Therefore, it is important to pay close attention to the components used in such items. Hence, this factor is expected to be a major impediment to the growth of the global herbal beauty products market during the forecast period.
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Global Herbal Beauty Products Market Segmentation
By product type (hair care, skin care, fragrance, makeup, color cosmetics, others)
The skin care segment is expected to grow rapidly due to widespread demand for herbal skin care products to give the skin a natural glow and to address growing skin problems such as fine lines, acne, breakouts, premature aging and pigmentation disorders. will be , and so on. For example, approximately 87% of people have acne at some point in their lives, making it the most common skin condition.
By shape (solid, semi-solid, liquid)
By end user (male, female)
By distribution channel [Offline (General Departmental Stores, Supermarket, Drug Stores, and Brand), and Online]
By region
The North American herbal beauty products market is expected to hold the largest market share by the end of 2033 among all other regional markets. Growing awareness of the benefits of natural beauty products, rising disposable incomes, and a growing tendency to splurge more money to purchase herbal skin products.For example, according to a consumer poll conducted in 2022 , 59% of American consumers say they are willing to spend up to 36% to 42% more on “green” versions of their regular cosmetics and personal care products.
The global herbal beauty products market research report includes market size, market revenue, year-on-year growth rate, and market share in North America (United States and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia Pacific (China, India, Japan, Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium), Netherlands and Luxembourg, NORDIC (Finland, Sweden, Norway , Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, rest of Middle East and Africa).
Leading market players in the global herbal beauty products market
Key players in the global herbal beauty products market include Himalaya Wellness Company, Hemas Holdings PLC, Weleda, Marc Anthony Cosmetics, Albon International, LLC, The Estée Lauder Companies, Grown Alchemist, Forest Essentials, Versa Cosmetics Pvt. Limited, Khadi Natural, etc.
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