EUROPE AND ASIA PACIFIC HERBAL BEAUTY PRODUCTS MARKET ANALYSIS

Herbal cosmetic provide excellent soothing effects on the skin along with the essential nutrition required for healthy skin. They are also beneficial for the skin repairing and facilitating the growth of smooth and glowing skin.

Europe & Asia Pacific herbal beauty products market is projected to reach around US$ 3258.0 million by the end of 2030, in terms of revenue, growing at CAGR of 5.0% during the forecast period (2023-2030).

Europe & Asia Pacific Herbal Beauty Products Market: Growth Driver

Increasing consumer demand for organic and natural products

The market for herbal beauty products is experiencing unprecedented growth due to a number of factors that have had a positive impact on this burgeoning industry. As people become more conscious of what they place on their skin, the rising demand for natural and organic professional skincare products is one of the primary drivers of this growth. Consumers actively search out products that are free of harmful chemicals and made with skin-friendly herbal ingredients.

Increasing Herbal Beauty Product Availability Through Online and Offline Channels

The increasing availability of herbal beauty products through online and offline channels is another significant factor contributing to the market's growth. With an increasing number of consumers turning to retail e-commerce platforms for their beauty requirements, companies in this industry have been quick to launch their products on online marketplaces to capitalize on this trend. Traditional brick-and-mortar retailers have also stocked their shelves with herbal beauty products to meet the rising demand. In June 2021, Lotus Herbal announced its plan to acquire natural and herbal beauty product manufacturing company as a part of its expansion strategy. The company is in talk with investment bankers to identify national or international potential targets for the same.

Figure 1. Europe & Asia Pacific Herbal Beauty Products Market, Revenue Share (%), By Region, 2022

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Europe & Asia Pacific Herbal Beauty Products Market: Restraints

Dilemma of Herbal Beauty Product Prices versus Synthetic Substitutes

The domain of herbal beauty products presents a perplexing obstacle to users, who seek a flawless, radiant complexion. The high price of herbal beauty products relative to synthetic alternatives is a major barrier to their widespread use. This is due to the high cost of the raw materials used in herbal beauty products and the labor-intensive. In addition, herbal beauty products are typically sold in lesser quantities, resulting in a higher unit cost.

Europe & Asia Pacific Herbal Beauty Products Market- Impact of Coronavirus (Covid-19) Pandemic

In the current environment, the unanticipated COVID-19 pandemic has inflicted a blow to the herbal beauty products market. To comprehend the magnitude of the pandemic's impact on the market for herbal beauty products, it is necessary to assess market trends and global changes in consumer behavior. The unprecedented COVID-19 pandemic has significantly disrupted the global market for herbal beauty products. A notable emerging trend is a shift in consumer behavior towards natural products. Consumers are more concerned than ever before with their health and well-being, selecting for natural and organic products free of harmful chemicals.

The pandemic-induced lockdowns and social distancing measures have led to an increase in demand for self-care remedies that can be administered at home. Currently, consumers are searching for beauty and skincare products that can be used at home without the need to visit salons or resorts. COVID-19 pandemic has halted the global supply chain, resulting in production difficulties for herbal beauty products. The lockdown measures and social distancing protocols have made it difficult to acquire basic materials and ingredients, resulting in an increase in prices and a decrease in production.

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Europe & Asia Pacific Herbal Beauty Products Market: Market Segmentation

On the basis of the region, Asia Pacific dominated the Europe & Asia Pacific Herbal Beauty Products Market in 2022, accounting for 63.0% share in terms of value, followed by Europe.

Europe & Asia Pacific Herbal Beauty Products Market: By Product Type

On the basis of product type in 2022, skin care segment has accounted the largest market share of 46.3% in terms of value, followed by hair care and oral care.

Europe & Asia Pacific Herbal Beauty Products Market: Recent Developments

• June 2022: Himalaya launched a new equity campaign that encourages customers of all ages to prioritize health and wellness. The campaign brings to life Himalaya's vision of 'Wellness in Every Home, Happiness in Every Heart'.
• November 2021: In association with the India-based AIMIL Pharma, the Fragrance and Flavor Development Centre in Kannauj came up with beauty products in line with the Union government's push to apply Ayurveda in food and beauty products. The product, Ayouthveda, has been prepared by adding time-tested herbs, also used in medicines.
• March 2021: Lotus Herbals entered the clean beauty category with Lotus Botanicals, which has a range of chemical-free skin and hair care products. The brand is also positioned in the D2C category to tap into India's growing e-commerce industry.
• In 2021, Herbivore, a brand based in the U.S., introduced a line of hygiene products containing CBD-infused natural ingredients such as hemp seed oil and chamomile.

Europe & Asia Pacific Herbal Beauty Products Market: Key Companies

Key players operating in the Europe & Asia Pacific herbal beauty products market are Bio Veda Action Research Co., VLCC Personal Care Ltd., Surya Brasil, Dabur India Ltd, Himalaya Global Holdings Ltd, Lotus Herbals, Hemas Holdings Plc, Herbals Inc., and Herbalife International of America Inc.

*Definition: Herbal beauty products are produced from active bio ingredient and enhance the skin of the human. They improve the biological function of skin while providing various beneficial nutrition essential for the skin. Herbal beauty product composed of hair, skin, body care, and color cosmetics that are free from chemicals and other harmful ingredients.