The global herbal cosmetic market is expected to grow at a CAGR of 5.8% during the forecast period (2022-2028). Hazardous effects of chemicals used in cosmetics causes reaction on the skin. It damages skin cells and is responsible for early aging. Therefore, people are turning towards herbal cosmetics and this is expected to drive the market during the forecast period. These herbal lipsticks have the potential to beautify the texture and shade of lips and to provide health-promoting and protective effects. According to CSIR-IHBT, the developed technology provides a process for the preparation of herbal lipstick and has great market potential with additional health-promoting effects.
Different classes of people globally use cosmetics for beautification since ancient times. However, during the last few decades, there has been a tremendous increase in the use of cosmetics. The daily use of cosmetics may lead to localized skin problems, and the harmful effects are caused by skin or oral absorption of some chemical substances. The toxic elements are related to mineral pigments, which are used as coloring agents. This, in turn, is boosting the demand for herbal cosmetic products to reduce the harmful effects of cosmetics on skin.
Some major players in the market include The Himalaya Herbals, The Estee Lauder Companies Inc., and Lotus herbals Pvt. Ltd., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, product launches, and collaborations, to stay competitive in the market. For instance, in July 2020, Venture Catalysts, India’s first, largest and pioneering integrated incubator and accelerator platform, has invested an undisclosed amount in herbal OTC products brand Green Cure. This round was led by Gunvanth Vaid, founder of 4G Capital and ACG World who are part of Venture Catalysts. Green Cure will utilize the fresh capital to further scale up its operations and launch products into new categories.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By End-Use
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- The Himalaya Herbals, The Estee Lauder Companies Inc., and Lotus herbals Pvt. Ltd., among others.
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Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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Global Herbal Cosmetic Market Report by Segment
By Type
- Hair Care
- Skin Care
- Body Care
- Others
By End-Use
- Commercial Use
- Home Use
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