The Asia Pacific herbal beauty products market is projected to grow at a CAGR of 5.2% during the forecast period 2020-2025
Key Highlights
- Consumer preference is shifting towards organic as well as herbal products, owing to increasing awareness regarding the adverse effects of chemicals on health as well as the environment. Consumers are inclined towards product formulated with botanical extracts such as essential oils, antioxidants, and natural coloring snd fragrance additives.
- The herbal beauty products market in the Asia Pacific is projected to expand at a considerable pace during the forecast period due to a rise in awareness regarding the advantages of herbal ingredients, rise in per capita income, and rapid urbanization. Countries such as India, Vietnam, Indonesia, the Philippines, and Malaysia are shifting from chemical-based cosmetic products to herbal skincare products.
- Additionally, players operating in the market are developing and launching new products to meet consumer demand, which is diversified based on geography and culture. For instance, in April 2019, a new product range of Herbal Essences was launched in India. The products offered are formulated with natural ingredients derived from strawberry, aloe vera, green tea, cucumber, and others.
- However, factors such as the limited supply of raw material used to prepare cosmetics and higher cost of herbal beauty products are likely to hamper the herbal beauty products market.
Key Market Trends
Rising Demand for Hair Care Products in the Region
Shampoo, conditioner, hair oil, hair gels, hair masks, and other hair care products such as masks, leave-in conditioners are considered under the scope of the study, among which shampoos segment in the Asia Pacific region is projected to experience solid growth in current value terms over the forecast period, reflecting the category’s high level of maturity, affordable prices, and innovation in the male beauty/grooming category. This large demand for the segment is primarily owing to the use of herbs and flowers have potent effects that are in high demand, thus performing well in the Asia-Pacific region. Ingredients such as coconut oil, sunflower oil, jojoba oil, olive oil, Heena, and neem are used to manufacture herbal hair care products. Moreover, herbal beauty products are suitable for all types of hair products which is influencing the sales of herbal beauty products.
India to Hold the Major Share in the Asia Pacific Region
This has led to increases awareness regarding appearance and looks among all the age groups, from Gen Z to baby boomers, and thereby have increased the spending on personal care products. This is a major factor fueling the growth of the market in the region. The key players in the country are focusing on the environmental dimension of their strategies by creating sustainable partnerships with local vendors or providing information to their consumers about the origin and quality of their raw materials to meet consumer expectations. For instance, Natura & Co., beauty products company, acquired Avon Produts, Inc. The acquisition is expected to strengthen Natura's presence in the beauty products industry including herbal products.
Competitive Landscape
The Asia Pacific herbal beauty products market is competitive in nature having a large number of domestic and multinational players competing for market share. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Key players dominating the regional market include Shanghai Jahwa United Co. Ltd, Shahnaz Husain Group, Lotus Light Enterprises, Inc., Jovees, and Herbline, among others.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
Methodology
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