The global herbal beauty products market size was estimated at USD 88.83 billion in 2023 and is expected to hit USD 144.53 billion by 2033, foreseen to register a growth at a CAGR of 5.03% during the forecast period 2024 to 2033.
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The U.S. herbal beauty products market size reached USD 23.76 billion in 2023 and is anticipated to be worth around USD 40.82 billion by 2033, poised to grow at a CAGR of 5.60% from 2024 to 2033.
As there's a growing demand for green label products and the willingness among the customers to pay premium prices for herbal products market in North America. North America accounted revenue share of around 38.14% in the market in 2023. High amount of disposable income has led to a growth in the market. The awareness of the natural ingredients based products and the benefits that they could put out in the long run are driving the market in North American region.
The Asia Pacific market is also expected to grow at a CAGR of 6.7% from 2024 to 2033 and shoot up due to the green label, skincare, cosmetics and increased sales in the people who are health conscious. There's an inclination for herbal beauty products and this provides an opportunity for various market players. To provide more products to this market segment in order to meet the growing demand of herbal cosmetics range in various nations various companies are launching herbal products.
Herbal beauty products make use of the ingredients that are available in the nature. Most of the ingredients are plant derived ingredients. Various clinical and laboratory studies have shown the importance of natural ingredients in providing the benefits to the skin and hair in humans. But some of these herbal products could be harmful to the skin. People could be prone to allergies and careful attention needs to be paid in understanding what are the ingredients used in such products. A wide range of products are offered by herbal beauty companies to meet the demands of the customers for makeup, hygiene and self care and different types of skin and hair complaints.
There's an increased focus on the looks and appearance. There's an acceptance of herbal products in customers. Herbal products are becoming popular in the consumers as they are natural and chemical free beauty products. Due to the awareness of various side effects of chemicals, there's an increased demand for herbal beauty products. Herbal beauty products are cruelty free cosmetics which are supporting the growth of the market. Various social media applications and beauty blogs are able to efficiently communicate the side effects of chemical cosmetics and the benefits of herbal beauty products that are also very beneficial in the long run thereby increasing the demand for the herbal beauty products. The demand for these herbal beauty products is expected to grow during the forecast period due to more awareness.
Herbal products can be used by the people of any age group and various skin types. There has been an improvement in the lifestyle of the people after the pandemic. There's an awareness regarding the harmful chemicals. In the beauty products and they are ill effects in the long term use have led the market to switch to the herbal beauty products. There's an increase in the demand for herbal ingredients for products that are related to skin acne and hair problems. The prominent market players are focusing on acquiring different firms that deal with the beauty care segment in order to widen the customer base and in order to attract the customers for healthy, whole and natural products.
| Report Coverage | Details |
| Market Size in 2023 | USD 88.83 Billion |
| Market Size by 2033 | USD 144.53 Billion |
| Growth Rate from 2024 to 2033 | CAGR of 5.03% |
| North America Market Share in 2023 | 38.14% |
| Hypermarkets/Supermarkets Segment Market Share in 2023 | 45.30% |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | By Product, By End User, By Distribution Channel, and By Form |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
The skin care segment had the largest market share 40% in 2023 and it is expected to grow even during the forecast. In order to improve the texture of skin, to provide a glow to the skin, reduce acne. In order to remove finelines and slow down the aging process, herbal beauty products are used. The growth of the skin care segment is attributed to an increasing awareness of the benefits of these herbal products. Due to a good amount of disposable income and an increasing demand for cosmetics in the developing as well as the developed nations, the demand for skin and hair care products is expected to drive the segment growth. A leading cosmetics company, VLCC, introduced a range of 15 herbal based sun protection products for all the different types of skin.
The hair care segment is expected to have a good growth 6% during the forecast period. In order to improve the texture and shine of the hair and to promote hair growth these natural or herbal beauty products are used. The demand for various hair care products is expected to drive the overall growth of the market. Herbal hair care products are used to reduce hair fall, clean the scalp and to reduce dandruff in various types of hair.
The women segment had a 75.60% growth till 2023 and it is expected to have a great growth during the forecast period. Increased awareness among the women about personal hygiene and self grooming the market is expected to grow. Women spend a large amount on their skin care during their entire life time. It is extremely high as compared to that of what men spend on their skin and hair. Many manufacturers are launching new products in the market that target the women customers. Many luxury beauty brands are entering the herbal beauty products segment in order to provide natural and chemical free products to the women who are aware of the benefits of these products. There is an increased use of bath and body items and skin care products that will drive the market during the forecast period.
The men segment is expected to grow at a CAGR of 5.9% during the forecast period due to use of conditioners shampoos and oils. Male pattern baldness and the various products that could help in strengthening the hair will help in the growth of the market. There's a demand for anti-aging products and it is gaining good popularity among mens segment.
The hypermarkets/supermarkets segment hit a revenue share of around 45.30% in 2023. The hypermarkets are expected to be the most lucrative source of sales and they are expected to generate high revenue as compared to any other distribution channel. These stores have efficient and trade representatives that are able to provide the competitive advantages of the herbal products. There is an increase of herbal sales through the hypermarkets due to the high quality of services that are provided and the benefits of the products explained by the trained representatives.
Many leading stores are increasing the locations and entering the developing nations to capture the market. After the pandemic, the shopping habits of people have changed. The availability of doorstep delivery, discounts and wide range of products on the online platforms have helped in the growth of the ecommerce segment. Availability of Internet and smartphones have raised the market for ecommerce.
Market Segmentation:
By Product
By End User
By Distribution Channel
By Form
By Geography
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