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LONDON — Global sales of natural and organic beauty products are projected to reach $9 billion this year, and although consumer demand for natural and organic products remains buoyant, new research finds the growth rate is slowing because of the weak economic climate.
In the upcoming report on the "Global Market for Natural & Organic Personal Care Products," Organic Monitor predicted revenues to climb to $14 billion in 2015. Demand for natural and organic products has spread to every region; however, sales remain concentrated in Europe and North America. Organic Monitor is a specialist research, consulting and training company that focuses on the global organic and related product industries.
According to the research, natural and organic products have 2% share of global personal care product sales. In some countries — such as the United States, Germany and Austria — the market share is reaching 10%. The large market share is because of high consumer awareness and extensive distribution of natural and organic products.
Widening availability is a major driver of market growth as natural and organic personal care products cross over from specialists to mainstream channels. In addition, large cosmetic companies are entering the naturals arena, whether it's through acquisition or developing natural/organic lines. Organic Monitor also noted that private labels at retail also are becoming prominent for natural personal care products.