This latest study by Fact.MR places the global plant-based skincare products market at US$ 789.75 million in 2023 and projects it to secure a valuation of US$ 1.62 billion by the end of 2033. Worldwide demand for plant-based skincare products is estimated to exhibit an increase at a healthy 7.5% CAGR over the next ten years, thereby providing an absolute dollar growth of US$ 837.95 million.
Skincare items that are entirely constructed of plant-derived ingredients and free of synthetic or animal-based components are known as “plant-based.” Future market growth for plant-based skincare products is predicted to be driven by growing consumer knowledge of the advantages of using plant-based products and changing consumer preferences around the globe. It is also anticipated that sales of plant-based face products would increase over the next few years due to growing knowledge of the negative consequences of chemical-based treatments, such as skin irritability, allergies, and breakouts.
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Why are Plant-based Skincare Products Gaining Traction?
Demand for plant-based skincare products is expected to show an escalation over the assessment period. This is attributed to rise in awareness about chemical-free products and the latest beauty trend of using natural and vegan skincare products.
Nowadays, women are concerned about their appearance and desire glowing and healthy skin. Working women are giving preference to plant-based skincare products to prevent allergies, breakouts, and skin irritation caused by chemicalized skincare products. This is expected to contribute to growth in demand for natural skincare products and promote the use of chemical-free beauty products across the globe.
Alongside, rising awareness among men related to skin nourishment and personal grooming is expected to contribute to demand for plant-based skincare products, which is anticipated to result in higher market growth through 2031.
Competitive Landscape:
Top-tier plant-based skincare product manufacturers are focusing on launching new product ranges that allow them to increase their revenue generation capacity and stay relevant in the competitive marketplace.
- In January 2022, Kosas Cosmetics, a leading clean skincare brand, announced the launch of its first skincare product launch. The new Plump + Juicy Vegan Collagen Spray-On Serum was launched and had vegan collagen and probiotic serum to give the skin a plump and soothing look.
Key Companies Profiled:
- The Body Shop
- FOM London Skincare
- Estee Lauder
- Procter & Gamble Co.
- Clorox Co.
- L’Oréal S.A.
- Honest Co.
- Botanic Organic LLC
- Eminence Organic Skincare
- Unilever
- Mama Earth
Key Segments of Plant-based Skincare Products Industry Research:
· By Product Type :
- Creams & Lotions
- Scrub Exfoliators
- Cleansers & Toners
- Essential Oils
- Balms & Butter
- Serums & Masks
- Makeup Removers
- Other Products
· By Customer Orientation :
- Women
- Men
- Kids
- Unisex
· By Nature :
- Organic
- Conventional
· By Sales Channel :
- Hypermarkets/Supermarkets
- Departmental Stores
- Convenience Stores
- Mono-brand Stores
- Specialist Retailers
- Drug Stores
- Online Retailers
- Direct Selling
· By Packaging :
- Pumps & Dispensers
- Compact Cases
- Jars
- Pencils & Sticks
- Tubes
- Sachets
- Others
· By End Use :
- Personal
- Commercial
· By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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How will be insights and market estimations provided in the Fact.MR report on the Demand of Plant-based Skincare Products make a difference?
- The study takes a closer look at the major economic turmoil, with a focus on the recent COVID-19 pandemic disruptions
- The assessment of key growth dynamics highlights the attractiveness of new automation technologies and offers readers insight on the prospect of these during the forecast period
- The study tries to offer a balance perspective of the opportunities in mature and the most lackluster markets
- Provides scrutiny of the industry trends that have shaped recent government policies
- Provides an account of major breakthroughs in all segments that might change the course of the market considerably
- Provides an incisive analysis of socio-political milieu in which the key markets operate, and how will that influence the lucrativeness of the overall Plant-based Skincare Products Market
- Analyzes how collaborations and partnerships among players from different industries shape the key growth dynamics in the near future
- Evaluates the role of various stages of funding on new growth avenues in key regional markets
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