(MENAFN- GlobeNewsWire - Nasdaq) NEWARK, Del, , Sept. 25, 2023 (GLOBE NEWSWIRE) -- The ASEAN organic cosmetics market size is anticipated to exceed US $ 5,605.4 M illion in 2023 and is likely to attain a valuation of US $ 9,484.4 M illion by 2033. The ASEAN organic cosmetics market share is projected to thrive at a CAGR of 5.2% from 2023 to 2033.
Clean beauty, once seen as a niche trend, is now widely accepted. Recognizing the need for clean beauty products , larger cosmetic corporations have either entered the market or bought smaller, clean beauty brands. Due to this widespread adoption, clean beauty products are now more widely available in central retail locations, increasing their accessibility to a broader spectrum of customers. This trend will largely influence the ASEAN organic cosmetics market growth in the coming years.
The usage of eco-friendly and sustainable packaging materials is rising in the ASEAN organic cosmetics market. Customers who care about the environment look for goods with packaging that minimizes waste and has little environmental impact. In addition to appealing to these customers, brands that prioritize sustainable packaging also demonstrate a commitment to ethical and environmentally beneficial behavior, in line with the growing emphasis on sustainability across the globe.
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A few ASEAN-based organic cosmetics companies provide customization and personalization options. Customers may now customize items to suit their unique skin types, problems, and preferences. This strategy appeals to people looking for customized skincare solutions while also improving the entire consumer experience. In addition to meeting the particular demands of each customer, personalized products also encourage brand loyalty by establishing a feeling of exclusivity and engagement.
Key Takeaways from the ASEAN Organic Cosmetics Market Report:
In 2018, the market size stood at US$ 4,366.9 million. In 2022, the market size stood at US$ 5,308.1 million. Skin care segment acquired 28.30% of the ASEAN organic cosmetics market shares in 2023. Departmental stores captured 26.70% of the ASEAN organic cosmetics market shares in 2023. Thailand acquired 29.0% of the ASEAN organic cosmetics market shares in 2023. Indonesia captured nearly 17.8% of the ASEAN organic cosmetics market shares in 2023. Malaysia gained 15.4% of the ASEAN organic cosmetics market shares in 2023.
Key Companies in the ASEAN Organic Cosmetics Market:
Innisfree The Body Shop (owned by Natura &Co) Burt's Bees (owned by The Clorox Company) Human Nature Hada Labo (Rohto Pharmaceutical Co., Ltd.) Sukin (BWx Limited) Neal's Yard Remedies (Neal's Yard Remedies Ltd.) Dr. Organic (Dr. Organic Ltd.) Tata Harper (Tata Harper Skincare, LLC) Melvita (L'Occitane Group)
Recent Developments Observed by FMI:
The Thai clothing business 'LYN' debuted Lyn Beauty in April 2022 as a vegan and cruelty-free substitute. In June 2021, Singapore served as the official Southeast Asian launch location for the South Korean marine beauty brand TARA. TARA aims to take on Thailand and Vietnam next to expand its SEA footprint. According to the clean beauty skincare line TARA, a high-performance, results-driven skincare spa experience can be had at home, which draws inspiration from the ocean.
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Note from the Analysts:
"The ASEAN organic cosmetics industry is positioned for noteworthy expansion in the future years due to the increased customer preference for natural and sustainable beauty products. Organic cosmetics are expected to dramatically increase in popularity and drive revenue growth in the market due to the rising emphasis on wellness, environmental awareness, and the pursuit of healthier lives,” says an FMI analyst.
ASEAN Organic Cosmetics Market Segmentation
By Product Type:
Skin Care Hair Care Make Up Fragrances Toiletries Others
By Distribution Channel:
Departmental Stores Franchise Outlet Beauty Specialist Salon Direct Sales Chemist/Pharmacies Internet Others
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Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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Organic Cosmetics Market Size : In 2022, the organic cosmetics market is anticipated to be worth US$ 19.6 Billion. The market is expected to increase at a 5.1% CAGR from US$ 20.5 billion in 2023 to US$ 33.7 billion in 2033.
Premium Cosmetics Market Share : The global premium cosmetics market leads to an estimated CAGR of 6.14% in the global market during the forecast period and registers a revenue valued at US$ 116.23 Billion in 2023 and is expected to cross US$ 210.92 Billion by 2033.
Cosmetic Pigments Market Demand : The cosmetic pigments market size is estimated to be US$ 12.98 Billion in 2023 and is expected to reach roughly US$ 24.24 Billion by 2033, registering a CAGR of 6.45% from 2023 to 2033.
Cosmetic Oil Market Trends: The cosmetic oil market is anticipated to expand its roots at a steady CAGR of 12.21% during the forecast period. The market is likely to hold a revenue of US$ 10.9 billion in 2023 while it is anticipated to cross a value of US$ 34.49 billion by 2033.
Halal Cosmetics Market Analysis : The global halal cosmetics market is anticipated to generate revenues of US$ 42.65 billion in 2023. Demand for halal cosmetics is projected to develop at a CAGR of 11.6% and reach US$ 127.8 billion by 2033.
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