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
The ASEAN organic cosmetics market comprises natural and organic skin care, hair care, cosmetic and beauty products that are free from synthetic chemicals, dyes, and preservatives. Organic cosmetics are plant-derived and certifies to be containing at least 95% of organic ingredients. These products provide natural nourishment and care for the skin with antioxidant-rich ingredients sourced from plants, fruits and herbs. Organic personal care products market is gaining prominence in the ASEAN region due to rising awareness about usage of toxic chemicals present in conventional cosmetic products.
Market Dynamics
The ASEAN organic cosmetics market is primarily driven by rising consumer inclination towards natural and organic personal care products due to increasing health concerns. Heavy metals, carcinogenic chemicals, and preservatives used in conventional cosmetics can cause various health issues such as skin allergies, hormonal imbalances, and reproductive harm. Growing awareness about harmful impacts of synthetic chemicals present in conventional cosmetics is compelling consumers to shift to organic variants. For example, parabens which are commonly used preservatives in cosmetic and personal care products can disrupt hormones and linked to breast cancer. This is increasing the demand for paraben-free organic cosmetics. In addition, rapid growth of online beauty and personal care portals in ASEAN countries is making organic products easily accessible to consumers, thus fostering market growth over the forecast period.
Segment Analysis
The ASEAN organic cosmetics market is dominated by the skincare segment which accounts for over 50% share. Skincare products within organic cosmetics such as organic face creams, cleansers, toners and serums are highly popular among consumers in the region. The segment witnesses high demand due to growing awareness about risks of chemical ingredients present in conventional skincare products and health benefits of organic variants. Moreover, rising pollution levels in urban areas have led to a surge in problems like acne, aging signs and dryness which is boosting adoption of natural and organic skincare cosmetics.
PEST Analysis
Political: Liberal import and export policies of ASEAN countries have ensured smooth trade flows within the region fostering market growth. Some nations have also implemented policies promoting organic farming and products.
Economic: High disposable incomes, growing middle class and rapid urbanization along with changing lifestyles have increased consumer spending on personal care and cosmetic products.
Social: Rising health and environment consciousness among consumers especially younger demographics have increased demand for organic, natural and sustainable personal care options.
Technological: Advanced extraction methods allow formulating organic cosmetics with potent active ingredients maintaining efficacy and shelf-life. Online retail channels coupled with digital marketing help expand the customer base.
Key Takeaways
The Asean Organic Cosmetics Market Size is expected to witness high growth, exhibiting a CAGR of 7.8% over the forecast period, due to increasing health consciousness among consumers. The market size for 2023 is estimated at US$ 4583.84 Mn.
Regional analysis indicates Indonesia as the fastest growing market for organic cosmetics in ASEAN on account of large population, growing middle class and high influx of foreign companies. Exports from Indonesia are also contributing to its prominent position. Singapore commands the largest market share currently owing to high consumer spending ability and expatriate population.
Key players operating in the ASEAN organic cosmetics market are WELEDA Inc., Groupe L€TMOCCITANE, and KORRES Group. WELEDA Inc. ranks among the top organic personal care brands globally and has a strong presence across Southeast Asian countries. Groupe L€TMOCCITANE’s portfolio includes organic skincare, hair, and bath products sourced from its own certified farms. KORRES Group is a pioneer in natural and organic beauty products specializing in skincare and body care categories.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
