The market size of the global clean beauty market in the year 2021 is valued at 5.59 billion and is predicted to reach 18.41 billion by the year 2030 at an 14.3% CAGR during the forecast period.
Clean beauty refers to a product that is safe and non-toxic. These products have clear ingredient labels and are safe to use on the face, preventing skin harm from chemicals. However, high production costs are a crucial hindrance to the clean beauty business. Additionally, rising R&D efforts, government initiatives to utilize sustainable components in manufacturing, and investments by major players are expected to create lucrative revenue opportunities for players in the global clean beauty market over the forecast period. Increased incidences of skin-related issues such as dark spots, blemishes, and other acne scars will drive the demand for clean products, increasing collagen, reducing black spots, and offering ideal skin moisture. As a result, the clean beauty market is anticipated to proliferate.
In addition, the growing demand for toxins free and green beauty products and a high concentration of multinational companies are also projected to fuel the market growth during the forecast period. An initialism is more personalized and requires individual effort in finding what works for their skin. These fresh concepts of beauty and skincare have already started gaining prominence globally. Favorable government initiatives to promote the use of clean beauty products are expected to support the growth of the target market. Furthermore, rather than hiding imperfections, consumers are more concerned about making their skin a flawless canvas for makeup. As a result, more people are becoming health-conscious and are investing in cleaning products. Besides, the role of social media is one of the essential factors in the global popularity of clean beauty products. Advertisements and video instructions on social media sites like Facebook and Instagram have had a significant impact on viewers, driving the K-beauty sector forward.
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List of Prominent Players in the Clean Beauty Market:
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The global clean beauty market is growing due to factors such as increased demand for beauty products with greater caution and awareness for skin and an increase in the development of more advanced and clean beauty products for better skin care. Consumer spending on natural beauty products is fast expanding, and government initiatives to encourage clean beauty products for toxin-free and eco-friendly demands are developing. In addition, the presence of clean, beauty knowledgeable workers and a high concentration of multinational companies are also expected to create lucrative growth opportunities during the forecast period.
The prime challenge is the lack of awareness and commercialization regarding bio-based products in developing countries, which is predicted to reduce the growth of the clean beauty market. However, the high cost of clean beauty coupled with the COVID-19 outbreak are factors that may limit the growth of the target market during the forecast period. According to a recent report, leading companies in the global clean beauty market are experiencing unprecedented economic losses as a result of interruptions in global supply chains and covid-19 pandemic.
The North America Clean beauty market is expected to register a significant market share in terms of revenue and is expected to expand at a high CAGR soon due to rising consumer spending on natural beauty products and developing government initiatives to support clean beauty products that are toxin-free and environmentally friendly are the major factors responsible for the growth in the market over the upcoming years. The middle-class family spends the most on cosmetics and personal care products, and the growing economies in India and China are further expected to be notable contributors to this region. The region is home to one of the prominent cosmetics industries, contributing to the global clean beauty product market during the forecast period. Furthermore, the presence of important market players, as well as increased collaboration among significant companies for market penetration in the area, create opportunities for the global clean beauty market to flourish.
In Sept 2021, Juice Beauty also introduced a plant-based cosmetics line in India. House of Beauty, the firm that introduced Boddess in India in 2020, said in the next few days that it would develop the American beauty brand Juice Beauty through 20-30 sales outlets. To market its items, the business will also partner with other online omnichannel merchants.
In June 2020, Credo Beauty announced a collaboration with Ulta Beauty. The company is planning to provide Ulta Beauty customers with an exclusive, clean beauty line with more options and unparalleled transparency in terms of sourcing, scent, and ingredients.
Global Clean beauty Market Segmentation:
Clean beauty Market Segmentation: By Procedure Estimates & Trend Analysis
Clean beauty Market Segmentation: By Product Estimates & Trend Analysis
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