The organic personal care product market is projected to be worth $27.08 billion by 2024, according to this report by Hexa Research. The market is shifting from the use petrochemical-derived-ingredients to organic formulations.
The skincare segment holds the larger revenue share of the market, followed by other segments such as hair care and oral care. The Body Shop's certified organic skincare line, Nutriganics, is shown above.
What's driving market growth? There is a rise in the awareness of ingredients in personal care products. Also driving growth is an improved standard of living coupled with rising disposable income of the middle-class population in emerging countries, India and China.
More consumers will be interested in purchasing organic products over the coming years, the report states, and "an increasing penetration of these products coupled with product availability and the strengthening of distribution channels is expected to benefit the market."
North America commands the highest share in the organic personal care product market, followed by Europe and the Asia Pacific. The fastest growth rate is expected in the Asia Pacific, due to the increasing consumption of personal care products in countries such as China and India.
Photo: The Body Shop's certified organic skincare line, Nutriganics