by The global ASEAN Organic Cosmetics Market is estimated to be valued at US$ 4583.84 Mn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Organic cosmetics are prepared from natural plant and mineral derivatives without involvement of any synthetic and chemical ingredients. The ingredients used for preparation are certified by regional organic certification bodies. Organic cosmetics provide advantages like non-toxic, environment friendly and natural moisturizing effect on skin. Rising consumers demand for chemical-free personal care products is fueling the market growth.
Market key trends:
One of the key driving factor for ASEAN organic cosmetics market is rising awareness regarding use of chemical-based cosmetic products. There is a growing consumer preference for organic and natural cosmetic products due to increasing environmental consciousness. Consumers are more concerned about the composition of personal care products and their effects. Thus, they are willing to pay premium prices for organic cosmetic products that are natural and chemical-free. This rising trend of using chemical-free personal care and cosmetic products is expected to continue during the forecast period. One of the key trends in the ASEAN organic cosmetics market is the rising awareness about health issues and environmental hazards caused due to use of synthetic chemicals in cosmetics products. There is a growing consumer preference for natural and organic personal care products that are free from harmful chemicals. Moreover, increasing disposable incomes and expanding middle class population have also boosted the demand for premium organic cosmetic brands in the ASEAN region.
SWOT Analysis
Strength: ASEAN region has a large young consumer base that is inclined towards the use of natural ingredients in cosmetic products for their perceived health benefits.
Weakness: High price of organic cosmetic products compared to conventional products restricts its demand among price sensitive consumers.
Opportunity: Increasing online retail penetration for cosmetic products offers an avenue to expand the market outreach.
Threats: Strict regulatory frameworks and certification process increases the entry barriers for new players. Substantial marketing investments are required to boost consumer awareness.
Key Takeaways
The Global ASEAN organic cosmetics market Size is expected to witness high growth, exhibiting CAGR of 7.8% over the forecast period 2023 to 2030, due to increasing health consciousness among consumers. The market size for ASEAN organic cosmetics was valued at US$ 4583.84 Mn in 2023.
Regional analysis: Indonesia and Malaysia are the fastest growing markets for organic cosmetics in the ASEAN region. Indonesia accounts for largest share due to rising middle class expenditure on personal care products. Thailand is also emerging as major producer and exporter of organic cosmetics.
Key players operating in the ASEAN organic cosmetics market are Estée Lauder Inc., L’Oréal Group, WELEDA Inc., Groupe L’OCCITANE, and KORRES Group.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
