Is the changing perception of consumers shaping a new future?
The beauty and personal care industry is undergoing a revolution, with the perception of different products by consumers rapidly changing. Consumers are interested in learning more about the item, its ingredients, and its benefits. This increased consumer interest has created awareness of harmful chemicals used in conventional personal care products and has paved the way for the market for natural and organic personal care products.
The global natural and organic personal care market was estimated at 14.81 billion in 2019 and projected to reach 33.25 billion at CAGR of 9.4 % over the forecast period.
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It is estimated that ~59% of customers believe that their personal care products are dangerous. In addition, ~56% of customers usually know the ingredients used in their personal care products, and ~92% of customers believe that strict guidelines on the use of ingredients in personal care products are available. In addition, consumers are also becoming more aware of animal welfare by avoiding personal care products that have killed some animals, which have had a profound impact on consumer shopping habits. The growth of the market for natural and organic personal care products is being fueled by the growing number of health-conscious consumers.
In 2018, L’Oréal Professionnel launched a new line of 100% plant-based and vegan salon hair dyes called Botan?a in Western Europe. It consists of three primary ingredients such as Henna leaves, Cassia, and Indigo leaves. With the introduction of this hair dye, L’Oréal Professionnel highlights the best combination of scientific research and nature, enabling the creation of a huge palette of shades to tailor the consumer requirements.
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Predominant awareness among consumers on environmental issues has set the sub-zero waste as a prominent trend in the beauty and personal care industry. The beauty and personal care (BPC) industry players are focused on shifting to a whole new paradigm to approach zero waste and sustainability, especially in the packaging of products. For instance, the French cosmetics brand named La Bouche Rouge Paris highlights the reusable or refillable luxury lipstick packaging, which is made of leather.
In addition, many established brands such as L’Oreal, Unilever, and Lush Cosmetics are heavily focused on the impact of packaging, personal care product sales, and the feelings of consumers about these factors. For their personal care products, consumers demand reusable, recyclable, and compact packaging to improve sustainability. Meanwhile, packaging suppliers are developing new alternatives to invest in processes and products that are eco-friendly.
North America’s Fist-mover Advantage of Premiumization of Natural and Organic Personal Care Products
It is evaluated that the BPC industry has a significant market in North America. However, the market is set to increase with the introduction of natural and organic personal care products. Consumers perceive the use of natural and organic ingredients in their personal care products as a high standard of living as organic personal care products are relatively expensive.
It is estimated that consumers in North America have a great willingness to pay more for natural and organic products. In North America, it is estimated that premium natural and organic personal care products are gaining popularity. It is reported that ~50 percent of American women look for premium natural and organic personal care products, and this percentage is estimated to increase substantially.
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