12.07.23
According to a recent report from Fact.MR, a market research and competitive intelligence firm, the natural skincare products market is anticipated to reach a market value of $13.4 billion by 2032, with an estimated compound annual growth rate of 6.5% from 2022, driven primarily by the rising consciousness regarding the harmful effects of chemical-based products on the skin.
An additional driving force for the industry's expansion is the increasing prevalence of acne-prone skin among both men and women. Moreover, the substantial endorsements of natural skin care products are expected to significantly contribute to market growth.
Furthermore, the burgeoning trend of Instagram challenges is anticipated to further elevate the demand for these products, thereby positively impacting the market.
An additional driving force for the industry's expansion is the increasing prevalence of acne-prone skin among both men and women. Moreover, the substantial endorsements of natural skin care products are expected to significantly contribute to market growth.
Furthermore, the burgeoning trend of Instagram challenges is anticipated to further elevate the demand for these products, thereby positively impacting the market.
Competitive Landscape
Here are a few noteworthy recent developments among the key players:- In January 2022, Procter & Gamble disclosed that it will buy Tula Skincare. It is the third acquisition by the player in the span of 3 three months.
- In January 2022, The Body Shop rolled out its sustainable Body Butter. The new Body Butter has been registered by The Vegan Society. It is composed with 95% ingredients of natural origin.
- In June 2023, Bee Rx, a new line of natural, clean-label cosmetic skincare products, launched in Canada.
- In October 2023, Georgia May Jagger, British-American fashion model and designer (and the daughter of Rolling Stones front man Mick Jagger), launched an organic skincare brand, May Botanicals.