World News: 14:17 GMT Friday 20th September 2019. [Technavio Research via Businesswire via SPi World News]
The global herbal cosmetics market is expected to post a CAGR of over 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global herbal cosmetics market 2019-2023. (Graphic: Business Wire)
In a bid to increase sales volume and revenue, vendors are continuously focusing on strengthening their distribution networks in the organized retail sector. Organized retail distribution channels are one of the most effective modes of distribution as they allow consumers to touch and feel the products before purchasing. Also, most prominent vendors offer a wide assortment of products through specialty stores, including herbal cosmetics. Moreover, brands are conducting cosmetic trails and offering discounts at shopping centers to influence the purchase decision of customers. Such factors are expected to drive the global herbal cosmetics market during the forecast period.
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As per Technavio, the growing trend of home makeup services, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect the market growth over 2019-2023.
Global Herbal Cosmetics Market: Rise in adoption of home makeup services
Currently, personalized home salon service is an emerging trend in various countries in APAC and other regions. Furthermore, the number of application-based makeup service providers that offer at-home makeup services has grown significantly. Mobile applications enable consumers to order makeup services and meet the makeup artists at the address of their choice. For instance, Housejoy is a personal service provider in India that provides home salon services, including makeup and spa services. The company offers a number of grooming and pampering services and one of them includes SeaSoul body spa in which the professionals use herbal products. Thus, such packages offered by home makeup services will result in high volume consumption of herbal cosmetics which in turn will boost market growth during the forecast period.
“Apart from the rise in adoption of home makeup services, other factors such as the growing demand for herbal cosmetics, influence through social media and blogging, and increasing preference for online shopping are expected to boost the market growth during the forecast period,” says a senior analyst at Technavio.
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Global Herbal Cosmetics Market: Segmentation Analysis
This market research report segments the global herbal cosmetics market by product (skin care, hair care, and body care) and geographical regions (APAC, North America, Europe, South America, and MEA).
The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market and register the highest incremental growth. This is due to the growing concerns about personal grooming and wellness and increase in the number of beauty salons in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Five Forces Analysis
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Business Wire: 14:17 GMT Friday 20th September 2019
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