by Organic cosmetics comprise a wide range of natural cosmetics and personal care products produced from certified organic materials like plants and fresh botanical ingredients without the usage of synthetic chemicals, fillers, preservatives or dyes. Organic cosmetics contain extracts from plants, flowers, herbs, seaweeds and essential oils to soothe and nourish the skin and hair. With growing health awareness and concerns over toxic ingredients in conventional cosmetics, consumers are increasingly shifting towards organic and natural alternatives for their daily use. Organic skin care products like organic moisturizers, shampoos, cleansers are formulated using plant-based formulations with natural SPF to provide hydration and protection in a safer way.
The global ASEAN Organic Cosmetics Market is estimated to be valued at US$ 4583.84 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising consumer awareness regarding the benefits of natural and organic products are expected to drive the growth of ASEAN organic cosmetics market over the forecast period. Consumers are increasingly opting for natural and chemical-free personal care products made from organic and eco-friendly ingredients without harsh chemicals. Additionally, the booming E-commerce industry in ASEAN countries is making organic cosmetics more easily accessible to urban consumers, thus fueling the market growth. Moreover, the introduction of innovative product ranges by key players and aggressive marketing strategies adopted by them are subsequent factors expected to boost the ASEAN organic cosmetics market during the forecast period.
Segment Analysis
The ASEAN Organic Cosmetics Market Size is dominated by the skin care segment which holds around 35% market share. Growing awareness about usage of organic and natural ingredients for skin care products among consumers in Southeast Asian countries is driving the growth of this segment. Consumers are increasingly preferring organic face creams, lotions, and serums made from natural ingredients over conventional ones due to rising health concern which is benefitting the skin care segment.
PEST Analysis
Political: The governments in ASEAN countries have implemented various regulations and standards for organic and natural cosmetics to ensure products safety. This is encouraging local manufacturers to shift towards organic ingredients.
Economic: Rising disposable incomes and growing middle class population is increasing consumer spending on premium organic cosmetic products in the region. The economic growth in Southeast Asian countries is also pushing the demand.
Social: Rising social media influence and change in lifestyle is raising consumer awareness about ingredients used in personal care products. People are more concerned about ingredients that can cause side effects. This changing consumer behavior is driving the adoption of organic cosmetics.
Technological: Brands are investing in R&D to develop innovative organic skin care and hair care products using traditional herbs and plants found in Southeast Asia. This is attracting consumers looking for natural products developed using indigenous ingredients.
Key Takeaways
The global ASEAN organic cosmetics market is expected to witness high growth over the forecast period backed by increasing health consciousness among consumers and rapid urbanization. Rising disposable incomes is also driving premiumization in personal care space. The global ASEAN Organic Cosmetics Market is estimated to be valued at US$ 4583.84 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030.
Regional analysis: Indonesia is currently the fastest growing market for organic cosmetics in Southeast Asia on account of booming millennials population and their increasing spending on natural beauty products. Thailand is another major market where organic personal care brands are gaining popularity due to widespread social media penetration.
Key players: Key players operating in the ASEAN organic cosmetics market are Garda World, Brinks, Securitas, G4s, and Loomis. Garda World has a strong presence in Indonesia and leads the security services market. Brinks is also expanding its logistics operations in Thailand to cater to the rising organic personal care brands distribution needs.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
