Future Market Insights (FMI) has released a new report titled, “ASEAN Organic Cosmetics Market Analysis and Opportunity Assessment, 2014 – 2020”. According to the report, the global organic cosmetics market is expected to account for US$ 66.1 Bn by 2020, registering a CAGR of 10.4% during the forecast period. The ASEAN organic cosmetics market on the other hand is projected to reach US $ 4,410.9 Mn at a CAGR of 9.5% over the forecast period.
Increasing consumer inclination towards spending on personal hygiene, which is attributed to health awareness programmes by regional governments, andappeal for natural nourishment and aggressive product branding will contribute to drive growth of the global organic cosmetics market over the forecast period.
The ASEAN organic cosmetics market is driven by factors such as robust cross-border supply of labour and capital, increased organic components harvesting and consumer demand for specialised products.
The ASEAN organic cosmetics market report mainly covers three segments such as application, distribution channel and countries in ASEAN region. On the basis of application, the market is further sub-segmented into skin care, hair care, makeup, fragrances, toiletries and others. Hair care is expectedto account for 28.2% share by 2020. However, the skin care market is anticipated to witness healthy CAGR of around 9.7% during the forecast period.
Browse Full: “ASEAN Organic Cosmetics Market Analysis & Opportunity Assessment, 2014 – 2020” Report at http://www.futuremarketinsights.com/reports/details/asean-organic-cosmetics-market
On the basis of distribution channel, the sub-segmentation comprises department stores, franchise outlets, beauty specialist salons, direct sales, chemist/pharmacies/drugstores, onlineselling and others. Among all the aforementioned distribution channels, the beauty specialist salons sub-segment is expected to dominate the market, accounting for 23% of the total revenue by 2020. However, franchise outlets is anticipated to demonstrate the fastest CAGR of 10.3% as compared to other distribution channels during the forecast period. Additionally, influx of new entrants is predicted to fuel growth of department stores as a favourable distribution channel for organic cosmetics, thereby accounting for 18.7% market share by 2020.
Key countries considered inthis report include Thailand, Singapore, Malaysia, Indonesia, Philippines and Vietnam.Singapore represents the most lucrative market, followed by Malaysia.Singapore is expected to contribute 8.2% market share to the overall ASEAN organic cosmetics market in the near future.Growth of the market in Singapore is supported by the robust travel & tourism industry, and increasing consumer awarenessof products with natural ingredients through various media channels.
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Assessing the various factors driving this market, FMI analyst SonalShekhar said, “Increasing consumer awareness regarding benefits of greener products, rising disposable income andincreasing investments by local companies are expected to fuel the demand for organic cosmetics in ASEAN.”
Key players profiled in this report include Estee Lauder Companies, Inc.,L’Oreal S.A.,WeledaInc., Groupe L’OCCITANE and W.S. Badger Company, Inc.