TAGS: Sustainability / Natural Cosmetics
According to Future Market Insights (FMI) there is expected increase of 6.1% in the herbal beauty products market, as the focus on advancements in products and customer-centric approaches are expected to influence players to adopt unique marketing strategies and develop novel products.
Adoption of Beauty & Grooming Products
The inclination of consumers towards a healthy lifestyle and the increasing demand for herbal beauty products are expected to drive the market over the forecast period. Also, the trend of veganism among the millennials will encourage them to
shift towards green beauty products. This trend will continue fueling the demand for herbal beauty products.
The products adoption due to popular media portrayal of lumbersexuals and metrosexuals is expected to drive the growth of herbal beauty products. Changing attitudes of men towards body care and beauty products and their benefits have led players to develop novel products, specifically for men.
“Players currently operating in the market are focusing on innovations to expand their portfolio. Some are even targeting specific skin problems to carve a niche amidst soaring competition. Meanwhile, leading brands are expanding their availability across e-commerce platforms to gain competitive edge,” said by an analyst.
Based on consumer orientation, the global herbal beauty products market is segmented into adults and kids. The adult segment is estimated to account for the largest share by 2021 end.
China will emerge as a highly lucrative market for herbal beauty products in East Asia. The U.S. will record the highest sales of herbal beauty products in North America.
COVID-19 Impact on Herbal Beauty Products Market
The outbreak of the novel coronavirus pandemic has changed the face of the herbal beauty products market and impacted buying habits of customers. Disruptions in supply chain dampened sales, more people gave some time to personal and skincare as they remained indoors during extended period of lockdown.
An increasing number of consumers utilized their time looking for home remedies on social media platforms like YouTube and Instagram to nurture their skin. Focus on beauty consistently rose. Consequently, restrictions were lifted, sales in the herbal beauty products market recovered.
Source: Future Market Insights (FMI).