Published Date : 09 Dec 2022
The global herbal beauty products market size accounted for USD 87.74 billion in 2022 and is expected to touch around USD 130.2 billion by 2030, representing an impressive CAGR of 5.06% from 2022 to 2030.
During the pandemic of COVID-19, the demand for herbal products had increased to a great extent. This has proved to be a boon for the herbal beauty products market. The increase in demand for beauty products with lesser side effects and better quality has led to an increase in the market of herbal beauty products. Owing to the increasing awareness among people regarding the harmful chemical added in beauty products has led to an increase in the demand for herbal beauty products. These factors are anticipated to benefit the growth of the herbal beauty products market across the globe during the upcoming years.
Report Highlights
On the basis of the product insights the Skin Care segment had the largest revenue in recent years and it will dominate in the forecast. Awareness about the benefits of herbal beauty products and the improvement of the skin with the use of these will lead the market growth. There's a growing demand for herbal beauty products for clear skin, removal of fine lines, and slowing down the aging process. The Hair Care segment is also expected to grow during the forecast. Significant growth in the purchase of shampoos and conditioners is expected to drive the overall market. Natural pure plant extracts are used in the manufacturing of these shampoos which ensures hair growth and significantly reduces hair loss.
On the basis of the end user, the women segment is expected to have the largest market share in the forecast. Increased awareness regarding personal hygiene and. Increased disposable income has led to the growth of this market. Many manufacturers are focusing on launching products based on the women segment. On the basis of the distribution channel, the hypermarkets are expected to see good growth.
Herbal Beauty Products Market Report Scope
| Report Coverage | Details |
| Market Size In 2022 | USD 87.74 Billion |
| Market Size By 2030 | USD 130.2 Billion |
| Growth Rate from 2022 to 2030 | CAGR of 5.06% |
| Base Year | 2022 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | By Product, By End User, By Distribution Channel, By Form |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, Middle East and Africa |
Regional Snapshots
The region of Asia Pacific has proved to be the fastest-growing market. On the other hand, Europe has proved to be the largest market existing for herbal beauty products. The market size of herbal beauty products in these regions is expected to show growth at a CAGR of around 6%. The other regions responsible for the growth of the market are North America, South America, Middle East, and Africa.
Market Dynamics
Drivers
The increasing preference for chemical-free beauty products along with the increasing popularity of sustainable products obtained from the environment is driving the demand worldwide. The increasing need for cruelty-free cosmetics is also proving to be a great support to the market growth. The awareness spread through Beauty blogs and social media is helping to communicate the benefits that influence the sales of such products. An increase in the number of chronic skin diseases and hair diseases caused due to the side effects of chemically made beauty products has proved to be a driving force for increasing the market size of herbal beauty products.
Restraints
The herbal tag does not always mean that it is harmless. The products that are sold under the tag of being herbal products may not always be 100% natural. These products also happen to be quite expensive due to the advanced technology required in the manufacturing of these products. The desired shelf life of herbal beauty products is less as compared to the of other products. The aesthetic appeal of herbal products may not be as good as the other synthetic products.
Opportunities
The increasing demand for vegan products has also proved beneficial for herbal beauty products. The increasing popularity of traditional Chinese ingredients has also led to a rise in demand for natural beauty products. With the growing demand of organic products, companies are developing beauty products with exotic ingredients. The face mask which also provides healing and anti-aging effects to the skin have a great demand in the market. Contents such as argan oil serum, vitamin C, and green tea extract are gaining high demand from consumers. The major brands are focusing on marketing strategies by creating partnerships with local manufacturers for increasing production to meet the growing demands from the customers.
Challenges
Adverse drug reactions or contamination of the product are the major challenges of the herbal cosmetics market. Many factors that affect the cultivation of herbs, like the atmospheric humidity, altitude, rainfall, temperature, light, and soil need to be apt for the cultivation of a great herb. Variations in these factors could lead to an alteration in the constituents of the herbs, which would in turn challenge the formulation of the beauty products. quality of herbs for the production of beauty products is another challenge for the growth of this market. There should be satisfactory standards set by the certification agencies in order to ensure the quality of the final product.
Recent Developments
In November 2021, Delhi-based AIMIL pharma which is the fragrance and flavor development center in Canada has introduced beauty products with the Union government support for the utilization of Ayurveda in food and beauty products. The product Ayouthveda has been prepared with herbs that are used in medicines.
Key Market Players
Segments Covered in the report
By Product
By End User
By Distribution Channel
By Form
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