DUBLIN--(BUSINESS WIRE)--The "Global Clean Beauty Market: Analysis By Product Type (Skin Care, Hair Care, Cosmetics, Fragrances, and Others), By Distribution Channel (Speciality Stores, Hypermarkets & Supermarkets, Online, and Others), By Region Size And Trends With Impact Of COVID-19 And Forecast up to 2028" report has been added to ResearchAndMarkets.com's offering.
The global clean beauty market was valued at US$7.22 billion in 2022. The market value is expected to reach US$14.36 billion by 2028.
Clean beauty means that the product is non-toxic, free of harmful ingredients, and has all the ingredients mentioned in the labeling. Clean beauty doesn't shy away from synthetic (or lab-created) ingredients - as long as those synthetic ingredients are safe.
Consumers are paying close attention to the ingredients in products, which is driving strong demand for clean beauty products. Over the past couple of years, consumers have spent more time focusing on skincare versus makeup which has driven increased awareness of ingredients in products.
The higher up on the clean spectrum, the higher the growth. Moreover, younger consumers are slightly more inclined to purchase only clean products. The market is expected to grow at a CAGR of approx. 12% during the forecasted period of 2023-2028.
Market Dynamics
Drivers
- Surging Gen Z and Millennial Population
- Increasing Social Media Influence and Digital Ad Spending
- Increasing Consumer Awareness towards Natural Products
- Growing E-commerce
- Increasing Disposable Income
- Favorable Government Regulations and Initiatives
Challenges
- Absence of a Regulatory Body or Industry-wide Standards
- Threat From Counterfeit Beauty Products
Market Trends
- Growing Integration of AR, VR, and AI in Beauty Industry
- Growing Product Innovations
- Product Personalization
- Rising Demand for Eco-Friendly Products
- Search Engine Marketing
- Brand Collaboration/ Partnership
- Increasing Focus on Sustainable Packaging
- Blue Beauty
- Increasing Demand for Cleanical Products
Companies Mentioned
- Estee Lauder Companies Inc.
- e.l.f. Beauty, Inc.
- The Honest Company, Inc.
- LVMH (Sephora)
- Natura & Co (Avon Products, Inc.)
- Credo Beauty
- Orveon (BareMinerals)
- Beautycounter
- Ilia Beauty
- Ere Perez
- RMS Beauty
- NakedPoppy
Market Segmentation Analysis:
- By Product Type: The report provides the bifurcation of the market into five product types: Skin Care, Hair Care, Cosmetics, Fragrances, and Others. Skincare held the major share of the market, whereas cosmetics is expected to be the fastest-growing segment in the forthcoming years. The skin care market's growth is supported by the growing knowledge of the harmful effects of chemicals and synthetic products. Furthermore, the growing e-commerce sector is expected to enhance market growth even more.
- The growth in clean cosmetics products accrued to rising disposable income and an increasing population. Moreover, rising financial independence among women and beauty consciousness among men are other significant factors contributing to product demand. Furthermore, the influence of clean cosmetics products with the help of social media is anticipated to further fuel the product demand during forecasted years.
- By Distribution Channel: The report further provides the analysis based on distribution channel: Speciality Stores, Hypermarkets & Supermarkets, Online, and Others. Specialty stores held the highest share of the market, whereas online is expected to be the fastest-growing segment in the forecasted period. Moreover, specialty retail stores such as Sephora and Ulta are becoming more popular with consumers of luxury beauty and cosmetics products. Also, specialty stores are popular as they let the consumer shop the way they want to shop, across brands.
- People's shopping power has been significantly affected by the internet distribution channel, which provides benefits such as doorstep delivery, simple payment options, substantial savings, and the availability of a wide range of products on a single platform. This may generate tremendous opportunities to fuel the global clean beauty market during the projection period.
- By Region: The report provides insight into the clean beauty market based on the regions namely, Asia Pacific, Europe, North America, and Rest of the World. Asia Pacific held the major share of the clean beauty market in 2022. It is also expected to be the fastest-growing region in the forthcoming years. Given the increase in conscious consumers, brands are now being held accountable for their claims while also making an effort to cater to the shifting demand for clean beauty products. And this trend gives the power back to the consumers along with the brand to build a more sustainable environment. The concept of clean beauty is picking up in India. The demand for products that suit Indian skin types and hair, a need that largely remained unfulfilled by international brands, is increasing and providing the opportunity for local companies.
- As sustainability continues to take center stage with beauty brands, trends like refill and reuse and dissolvable or zero waste beauty are gaining traction in Europe. As the clean beauty industry continues to grow, it is expected that future innovations would transcend only using clean ingredients and focus on managing the waste that had generated over the years.
For more information about this report visit https://www.researchandmarkets.com/r/6kbqdw-clean?w=4
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