9 Min Read |
The most popular skincare and beauty products no longer rely on synthetic ingredients.
Across a vast array of different industries, consumers want to know where ingredients or materials for products are sourced; how theyâre made; who theyâre made by; and whether they will support or damage their health in the long term. Beauty products are placed directly on the skin â so a broad interest in holistic health has triggered a new consumer interest on ingredients and processes.
The demand for organic cosmetic products is strong. In 2015, Grand View Research announced that the global organic beauty market was likely to reach $15.98 billion by 2020 and $48.04 billion by 2025, as demand for organic skincare, haircare and colour cosmetics drives consumers to look for natural and organic labels.
Then in 2016,Â market analysis released by Persistence Market ResearchÂ showed that with the year-on-year growth in organic beauty, the global market should be worth just under $22bn by 2024, Â suggesting approximate growth of 8-10% per year. The current natural and organic beauty market is estimated to reach the value of US$ 11,057.1 Mn in 2016, which means that industry analysts expect the marketâs valueÂ to doubleÂ within the next 8 years.
However, growth more than doubled. According to London-based analysts…
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Updated July 2021