San Francisco, California (PRWEB) July 17, 2014
The global market for organic personal care is expected to reach USD 15.98 billion by 2020, according to a new study by Grand View Research, Inc. Increasing consumer awareness regarding the benefits offered by organic products is expected to be a key factor in developing market demand over the next six years. Product innovation, especially in the field of herbal extracts, antioxidants and exfoliants is expected to provide consumers with an array of products to choose from. Favorable regulations pertaining to use of organic products and increasing purchasing power in Asia Pacific is expected to serve as growth opportunity for this market over the forecast period.
Skin care was the largest product segment in terms of revenue in 2013, and accounted for over 32% of global revenue, estimated at USD 2.73 billion, growing at a CAGR of 9.8% from 2014 to 2020. Increasing awareness among consumers regarding harmful effects of synthetic products on the body coupled with high appearance consciousness has fuelled the demand for organic skin care products. In addition, frequent product launches and widening of distribution channels is further expected to raise the demand over the forecast period. Hair care was the second largest product segment and accounted for around 25% of market share in terms of revenue in 2013. The market is expected to witness significant growth, at an estimated CAGR of 9.6% from 2014 to 2020.
The report “Organic Personal Care Market Analysis By Products (Skin Care, Hair Care, Oral Care, Cosmetics) And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/organic-personal-care-market.
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Further key findings from the study suggest:
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For the purpose of this study, Grand View Research has segmented the global organic personal care market on the basis of product and region:
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