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ASEAN ORGANIC COSMETICS MARKET ANALYSIS

ASEAN Organic Cosmetics Market<br>

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ASEAN ORGANIC COSMETICS MARKET ANALYSIS

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. ASEAN ORGANIC COSMETICS MARKET ANALYSIS Aluminum Market Report, by Product Type (Extrusions, Rolled, Castings, Wire & Cable and Others), by Application (Automotive & Transportation, Construction, Packaging, Electrical & Electronics, Consumer Durables, Others), and by Region (North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and Middle east & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

  3. Organic Cosmetics Market: ASEAN Industry 2017–2027 • Definition of Market/Industry: • Organic cosmetic is a preparation of cosmetic products by using naturally farmed ingredients. These ingredients have higher levels of antioxidants and are produced without the use of Genetically Modified Organisms (GM) and synthetic fertilizers. Moreover, organic cosmetics do not contain any synthetic colors, fragrances, and dyes. The manufacturing process is completely transparent and all the ingredients are biodegradable protecting the environment and health of the consumer. • Statistics: • The ASEAN organic cosmetics market is estimated to account for US$ 3,966.6 Mn in terms of value by the end of 2019 • Drivers: • The market growth of ASEN organic cosmetics can be attributed to the high production of organic ingredients due to the wide availability of resources. As per the report published by Foreverest Resources Ltd. in October 2018, the natural and organic personal care market is expected to reach nearly $20 billion by 2022, and the most rapid growth is coming from the Asia Pacific (APAC) region. In 2016, 34% of beauty products launched in APAC nations carried a sustainable or organic claim. • Ongoing urbanization along with the rising number of working women is another major factor expected to propel the market growth of the ASEAN organic cosmetics. Rising disposable income, especially among middle-class people, is another major factor expected to fuel the market growth of organic cosmetics in the region. According to DIPLOMAT MEDIA INC, Asia is expected to Stay World’s Fastest-Growing Region Through 2030. China is expected to post a 6.8 percent rise this year, although easing to 6.6 percent in 2018 and 6.4 percent in 2019 as the authorities “rebalance” the growth model for the world’s second-largest economy. Japan, the world’s third-largest economy, is seen extending its longest expansion in nearly two decades with a 1.5 percent GDP rise in 2017. • Statistics: • Thailand dominated the ASEAN organic cosmetic market in 2018, accounting for 29.3% share in terms of value, followed by Indonesia and Philippines, respectively

  4. Figure 1. ASEAN Organic Cosmetics Value Market Share (%), By Country, 2018 Source: Coherent Market Insights, 2018-19

  5. Market Restraints • Inappropriate certification of organic chemicals in the Asia Pacific region in terms of product acceptability by the consumer is expected to hamper the market growth of organic cosmetics. This factor is expected to hamper the market growth of organic cosmetics. • The high cost of the organic cosmetic product is expected to hinder the market growth. Moreover, the complex manufacturing process of organic cosmetics is further expected to hamper the market growth of organic cosmetics. Also, the packaging of organic cosmetics requires major capital which is projected to curb the market growth of organic cosmetics.

  6. Market Opportunities • The rising number of partnerships between companies, salons, and clinics is expected to propel the market growth over the forecast timeframe. Various clinics and salons for hair treatment are teaming up with companies such as Avon, The Body Shop and others for distributing organic hair care products. Moreover, rising awareness among consumers regarding the organic cosmetic product is further projected to foster market growth over the forecast timeframe. • Growing demand for men's skin products due to rising awareness regarding appearance and hygiene among men is fueling the market growth of organic cosmetics. For instance, according to L’Oréal’s financial report, 60% of young men (aged between 15 and 24 years) claimed to be concerned about acne or oily skin and over 70% of young men in the country use a cleansing lotion. Moreover, the rising demand for natural hair treatment products is further projected to boost the market growth of organic cosmetics.

  7. Figure 2. ASEAN Organic Cosmetics Market, Opportunity Analysis Source: Coherent Market Insights, 2018-19 Statistics: On the basis of product type, skin care organic cosmetic market was valued at US$ 879.5 Mn in 2018 possessing a market share of 24.5% in 2018 by value.

  8. Market Trends/Key Takeaways • The rising trend of spending on personal care by the consumer is expected to boost market growth over the forecast period. Improving living of standards coupled with the rising GDP is another major factor projected to fuel the regional market growth of organic cosmetics. The growing trend of using green ingredients among manufacturers is also expected to offer immense growth opportunities to the market of organic cosmetics. • Expanding retail industry in the ASEAN countries is expected to open new doors of opportunity to the market of organic cosmetics. Moreover, ongoing urbanization, especially in countries such as Singapore, India, Malaysia, and Thailand, will further favor the market growth of organic cosmetics.

  9. Figure 3. ASEAN Organic Cosmetics Market Value Share (%), By Product Type, 2018 Source: Coherent Market Insights, 2018-19

  10. Competitive Section: • Players active in the market of organic cosmetic are Estée Lauder Inc., L’Oréal Group, WELEDA Inc., Groupe L’OCCITANE, and KORRES Group. • Few Recent Developments • Estée Lauder Inc. • On November 18, 2019, The Estée Lauder Companies announced it will acquire Have & Be Co. Ltd., the parent company of Dr.Jart+ and men’s grooming brand Do The Right Thing. • Strategy: • The company is focused on increasing its market presence through product innovation • The company is focused on expanding its global footprint through various mergers and acquisitions • As the market for fragrances and perfumes is anticipated to exhibit double-digit growth in the near future, Estée Lauder is focused towards the acquisition of various perfumes and fragrance companies to enhance its product portfolio in this segment

  11. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst • Buy Now • Reference : https://www.coherentmarketinsights.com/market-insight/asean-organic-cosmetics-market-3152

  12. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

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