Europe's Beauty Market Thrives with Organic and Natural Ingredient Trends - Outlook to 2028
Dublin, Sept. 11, 2023 (GLOBE NEWSWIRE) -- The "Europe Beauty Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to * ResearchAndMarkets.com's* offering.
The Europe Beauty and Personal Care Products Market size is expected to grow from USD 127.57 billion in 2023 to USD 149.40 billion by 2028, at a CAGR of 3.21% during the forecast period (2023-2028).
*Key Highlights*
Increased health awareness among consumers boosts the demand for natural personal care products. With the growing demand for organic ingredients, consumers are inclined toward organic personal care products, which is expected to drive market growth during the study period. Furthermore, the rising awareness about the harmful effects of chemicals and synthetic products is another factor augmenting the market's growth. Most consumers tend to buy products with natural or organic labeling, driving the market growth.
Additionally, companies are reaching out to consumers through various distribution channels, such as online and other channels. For instance, in February 2022, United Kingdom-based online fashion retailer Boohoo Group Plc launched a vegan beauty range of more than 50 products. Boohoo Beauty's cosmetics line includes lip gloss, lipstick, highlighter sticks, blush, setting sprays, and cosmetic palettes.
Consumer behavior towards maintaining a quality life makes Europe a potential market for innovations and launches in the beauty and personal care industry. Moreover, consumers in the region increasingly prefer items made with natural components. This change can be associated with consumers intentionally avoiding chemical-based products like sulfates and parabens, leading to hair problems, including frizz, flaky scalps, and split ends.
*Europe Beauty and Personal Care Products Market Trends*
*Increasing Demand For Organic/Natural Beauty and Personal Care Products*
Beauty and cosmetic products are currently inundated with numerous harmful ingredients and toxic chemicals. Around 90% of the roughly 13,000 chemicals used in cosmetic products were not Food and Drug Administration (FDA)-approved in 2020.
Moreover, several tests conducted by organizations and associations indicated that the presence of catastrophic heavy metals, such as lead, beryllium, thallium, and cadmium, are bragged as potential carcinogens and lead to serious health risks, including cancer, infertility, and Alzheimer's disease. Considering this factor, consumers are increasingly shifting to natural alternatives to avoid using conventional products on their bodies. This has suddenly raised the demand for organic personal and cosmetic products in the market.
The region has witnessed an increasing demand for natural and organic products due to the rise in consumer awareness about the harmful effects of certain compounds, such as paraben and aluminum compounds, in skincare, haircare, and deodorants. A high percentage of European consumers choose one brand over others based on its natural formulation. This has increased the demand for safe, natural, and organic products in the last few years.
*Germany Holds the Largest Share*
Germany is the largest cosmetic market in Europe, followed by France and the United Kingdom. The German cosmetics and toiletries market is mainly driven by women and younger consumers willing to spend more money on such offerings. Hair, skin, and face care products are the three categories with the highest turnover.
Furthermore, the demand for child skin care products is expected to increase in Germany as consumers are taking extra care to protect the delicate skin of babies and children against extended exposure to sun rays. Among adults, the demand for skin care products depends heavily on the weather conditions. However, many consumers take a more holistic approach, paying more attention to ultraviolet levels and their possible impact on skin health and aging.
Additionally, the players operating in the market are focusing on developing innovative lines or products to cater to the growing demand to achieve major market shares. For instance, in 2021, Beiersdorf personalized face care with the launch of its new brand, O.W.N (Only What's Needed), which uses ingredients that are specially formulated for individualized skin care needs. The launch focuses on personalized skin care innovations based on individual needs and scientific findings.
Many prestigious brands in Germany have strengthened their position by acquiring smaller companies, thus driving the market. For instance, according to the Federal Statistical Office, the domestic and international revenue of the industry for the production of body care products and fragrances in Germany was EUR 3.58 (USD 4.22 billion) and EUR 2.56 billion (USD 3.02 billion) in 2022.
*A selection of companies mentioned in this report includes*
· L'Oreal SA
· Unilever PLC
· Procter & Gamble Company
· Johnson & Johnson Services Inc.
· Estee Lauder Companies Inc.
· Beiersdorf AG
· Revlon Inc.
· Shiseido Company, Limited
· Oriflame Cosmetics Global SA
· Natura & Co.
· Colgate-Palmolive Company
For more information about this report visit https://www.researchandmarkets.com/r/33jmsa
*About ResearchAndMarkets.com*
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*Attachment*
· Europe Beauty And Personal Care Products Market Industry Beauty And Personal Care Products Market Annual Expenditur
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