Plant-based Skincare Products Market

Plant-based Skincare Products Market Outlook

Demand for plant-based skincare products is expected to reach a value of US$ 683.4 Mn in 2021. As per Fact.MR, overall plant-based skincare products market value is expected to increase more than 2X by 2031, rising at a CAGR of 7.5% over the said period. Even though online sales of plant-based skincare products account for just over 11%, this segment is slated to surge at around 10% CAGR through 2031.

Base Year Value (2020A)	US$ 640 Mn
Projected Year Value (2031F)	US$ 1.4 Bn
Value CAGR (2021-2031)	7.5%
Collective Value Share (U.S., U.K., Germany): Top 3 Countries	54.7%

Why are Plant-based Skincare Products Gaining Traction?

Demand for plant-based skincare products is expected to show an escalation over the assessment period. This is attributed to rise in awareness about chemical-free products and the latest beauty trend of using natural and vegan skincare products.

Nowadays, women are concerned about their appearance and desire glowing and healthy skin. Working women are giving preference to plant-based skincare products to prevent allergies, breakouts, and skin irritation caused by chemicalized skincare products. This is expected to contribute to growth in demand for natural skincare products and promote the use of chemical-free beauty products across the globe.

Alongside, rising awareness among men related to skin nourishment and personal grooming is expected to contribute to demand for plant-based skincare products, which is anticipated to result in higher market growth through 2031.

Is High Competition among Manufacturers Restricting New Entrants in the Market?

Plant-based skincare products help in restoring glow and shine of the skin. Different types of plant-based skincare creams and lotions and other hair and facial masks provide nutrition to the skin without any harmful effects. This is the main reason that convinces manufacturers to switch to natural and safe ingredients for making skincare products.

Key market participants are concentrating on product development and innovation efforts to produce new and distinctive plant-based skincare products.

Some of these are mentioned below:

• Armani Beauty launched a new line in 2019, which included environmentally responsible men’s daily grooming products such as toners, face wash, and moisturizers manufactured with biodegradable and natural formulations, ensuring that 99% of ingredients are obtained from nature.
• Allure came up with the Nature in a Jar Collection, which consists of two body care products - a shower oil 'The Nourishing In-Shower Oil', which is vegan and gluten-free, and a body lotion 'Cream-to-Water Body Lotion with Cactus Fruit Extract'.
• Burt Bees, an eco-friendly and natural personal care brand of Clorox Co., introduced a line of natural cosmetics such as body lotions, face wash, cleansers, shower gels, body oils, and body scrubs made from natural ingredients.

Country-wise Insights

Why is Europe an Important Market for Plant-based Skincare Products?

Europe’s value share contribution to overall market revenue is dominant on a global level. This is attributed to strong production footprint of all key market participants in the overall value chain process in the region.

Europe holds the second-largest market share of 25.8% in the global market in 2021, which is expected to show robust market growth till 2031 at a CAGR of 6.8%.

Will Sales of Plant-based Skincare Products Increase across the U.S.?

The United States is one of the major players contributing to sales of plant-based skincare products in the North American plant-based skincare products market. Consumers are increasingly choosing products that are helpful in restoring the glow and shine of their skin.

Demand for plant-based skincare products is estimated to be valued at US$ 293.5 Mn in 2021 in the U.S. Alongside, the U.S. holds the largest market share of 91.9% in the North American market, and is anticipated to progress rapidly at a CAGR of 5.4% through 2031.

What Allows China to Lead the East Asia Market for Plant-based Skincare Products?

In East Asia, manufacturers of plant-based skincare products in China have led to an increase in its value share contribution and have made it a leading player amongst all other countries in the region. This is attributed to rising adoption of organic and natural beauty care products and need to keep up with daily grooming trends in the market.

China holds the largest market share of 41.6% in the regional market in 2021, and is expected to experience high growth at a CAGR of 7.7% over the assessment period. The market is South Korea is expected to witness lucrative growth at a CAGR of 12.3%.

Category-wise Insights

How Much Revenue is Generated through Sales of Organic Skincare Products?

Sale of organic skincare products account for 14.5% market share in 2021, and are projected to increase at a CAGR of 9.7% over the next ten years. Sales of conventional skincare products are expected to gain a market share of 82.4% by 2031-end, and expected to surge at a faster CAGR of 7.1%.

How are Online Sales of Plant-based Skincare Products Impacting the Overall Market?

According to Fact.MR, online sales account for 11.6% market share and are projected to increase at a CAGR of 9.9% over the forecasted period. Growing role of e-Commerce in emerging countries such as India, Brazil, Russia, and China is catering to high growth of online sales of plant-based skincare products.

Competitive Landscape

Consumers have become more beauty conscious and have increased their spending on skincare products. They are gradually adopting natural beauty care products due to changes in lifestyle and growing emphasis on external beauty, ensuring prevention from allergies and other skin problems.

Consumers are seeking organic products that can be applied on the face and remain all day long, and yet have no side effects on the skin or body. This has convinced manufacturers to provide large varieties of plant-based products that address the need and requirements of customers and offer products that enhance customer loyalty.

For instance-

• Procter & Gamble Co. acquired a New Zealand-based Skincare Company called Snowberry in 2018. The company is known for offering skincare products such as cleansers, exfoliators, moisturizers, toners, and brighteners, focusing on anti-aging and helping in exfoliating skin, and are purely made from natural ingredients
• L'Oréal entered a partnership with Clue, is a period tracking app. This Reason behind this was to help consumers understand the relationship between the menstrual cycle and skin health.

Plant-based Skincare Products Industry Report Scope

Forecast Period	2021-2031
Historical Data Available for	2016-2020
Market Analysis	Value in US$ Mn
Key Regions Covered	North America Latin America Europe South Asia East Asia Oceania Middle East Africa
Key Countries Covered	U.S. Canada Mexico Brazil Mexico Argentina Germany France Italy Spain Russia BENELUX U.K Nordic Spain Japan South Korea New Zealand China India Indonesia Malaysia Thailand Australia GCC Countries South Africa
Key Market Segments Covered	Product Type Customer Orientation Nature Sales Channel Packaging Type End User Region
Key Companies Profiled	The Body Shop L'Oréal S.A. Bloomtown FOM London Skincare Unilever Mama Earth Estee Lauder Procter & Gamble Co. Clorox Co. Honest Co. Botanic Organic, LLC Eminence Organic Skincare The Hain Celestial Group
Pricing	Available upon Request

Key Segments of Plant-based Skincare Products Industry Research

• Product Type

  • Creams and Lotions
  • Scrub Exfoliators
  • Cleansers and Toners
  • Essential Oil
  • Balms and Butter
  • Serums and Masks
  • Makeup Removers
  • Other Products

• Customer Orientation

  • Women
  • Unisex
  • Men
  • Kids

• Nature

  • Organic Plant-based Skincare Products
  • Conventional Plant-based Skincare Products

• Sales Channel

  • Hypermarkets/Supermarkets
  • Departmental Stores
  • Convenience Stores
  • Mono Brand Stores
  • Specialist Retailers
  • Drug Stores
  • Online Retailers
  • Direct Selling

• Packaging Type

  • Pumps and Dispensers
  • Compact Cases
  • Jars
  • Pencils and Sticks
  • Tubes
  • Sachets
  • Others

• End User

  • Plant-based Skincare Products for Residential Use
  • Plant-based Skincare Products for Commercial Use