Herbal Beauty Products Market, By Product (Skin Care, Hair Care, Fragrance), By End-user (Men, Women), By Distribution Channel and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
The global Herbal Beauty Products Market size is projected to reach a CAGR of 6.8% from 2023-2030.
Herbal beauty products are beauty products made of natural herbal ingredients such as aloe vera, almond, avocado, carrot, castor, clay, cocoa, coconut oil, cornmeal, cucumber, and many more, avoiding chemical usage.
The growth of the market can be attributed to various factors such as the Increasing prevalence of autoimmune disorders and increasing product approvals by regulatory agencies. Furthermore, increasing funding from various government and non-government organizations is also an important factor responsible for the growth of the market.
On the other hand, the high costs of immunology drugs, adverse effects associated with these drugs, and lack of awareness are the major factors that can hinder the growth of the global Herbal Beauty Products Market.
During the COVID-19 period, the demand for consumer goods was halted by limited supply, followed by suppressed production of non-essential products during the lockdown. The scenario brought a definite restraining impact on the beauty products market, which was greatly offset by increased consumers’ preference for at-home, self-care rituals, especially among millennials. The inclination toward enhanced appearance and looks combined with increased adoption of herbal products among consumers are some of the factors that are anticipated to benefit the expansion of the herbal beauty products market across the global market in the forecast period.
The growing demand for natural and organic beauty products due to various health benefits majorly for skin and hair include reducing inflammation, improving hydration, and boosting collagen production. At the same time, these herbal beauty products are made from natural ingredients and are free from harmful chemicals, making them a popular choice for health-conscious consumers, which promotes the need for these herbal products in the current market scenario. Further, the market is driven by growing demand for vegan and cruelty-free beauty products, expansion of distribution channels, and the growing popularity of Ayurveda and other traditional wellness practices in the next coming years.
North America to Dominate the Market