by The global ASEAN Organic Cosmetics Market is estimated to be valued at US$ 4,583.84 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 produced without the use of toxic chemicals and synthetic preservatives or colours. They use natural ingredients which are gentler on skin. The market is driven by rising health concerns and increasing awareness about benefits of organic products.
Market key trends
Growing preference for chemical-free and natural personal care products is driving the market growth. Rising millennial population is another key factor boosting the demand for organic cosmetics. Also, increasing internet penetration and impact of social media is positively impacting the organic cosmetics industry. Various awareness campaigns by organic brands are educating people about harmful effects of synthetic chemicals. This is encouraging consumers to switch to organic cosmetics for safer and natural skincare options.
SWOT Analysis
Strength: Asean organic cosmetics market is eco-friendly and chemical-free, meeting rising consumer demand for natural products. The region has a young demographic profile with rising disposable incomes favoring premium organic products.
Weakness: High price of organic ingredients and lack of proper certification increases overall cost of organic cosmetics. awareness about benefits of organic products still remains relatively low in some ASEAN countries.
Opportunity: Growing health and wellness trend promotes use of organic and natural ingredients. Increasing internet penetration enables easy access to organic brands. Governments support for organic farming can help reduce supply challenges.
Threats: Conventional players adopting greenwashing tactics may confuse consumers. Low entry barriers allow small local brands to capture market share. Economic slowdowns and supply chain disruptions affect discretionary spending.
Key Takeaways
The global Asean Organic Cosmetics Market Size is expected to witness high growth, exhibiting CAGR of 7.8% over the forecast period, due to increasing awareness about health hazards of chemical-based cosmetics and growing premiumization. The market size for 2023 is estimated to reach US$ 4583.84 Mn.
Regional analysis
Southeast Asia contributes over 35% market share led by Indonesia, Thailand and Vietnam. Rapid urbanization, burgeoning middle class and rising living standards supports increasing demand for premium organic personal care products in these nations. Indonesia is the fastest growing market in the region propelled by government initiatives for organic farming.
Key players operating in the Asean organic cosmetics market include WELEDA Inc., Groupe L€TMOCCITANE, and KORRES Group. WELEDA Inc leads with around 15% value share with strong distribution network across Southeast Asia. Groupe Lâ€TM OCCITANE is another major player focusing on premium organic skincare and haircare ranges sourced from Mediterranean regions. KORRES Group has a prominent position in organic bath and body category.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
