Europe skin care and hair care products market was valued at USD 52,210. 82 million in 2020, and it is projected to witness a CAGR of 2. 12% during the forecast period, 2021-2026. - The improving quality of life, the positive effects of skin and hair care on self-esteem and social interaction, and the gradual consumer shift toward premium and luxury brands are a few factors that are likely to propel the market growth during the forecast period.
New York, April 19, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Skin Care And Hair Care Products Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06039538/?utm_source=GNW
- With the growing demand for organic ingredients, consumers across the market are inclined toward organic personal care products, which is expected to drive the market growth during the study period. Furthermore, the rising awareness about the harmful effects of chemicals and synthetic products is another factor augmenting the growth of the market. Most of the consumers tend to buy products with natural or organic labeling, which is driving the market growth.
- The growing demand for anti-aging products and innovative and eco-friendly packaging designs are attributing the market growth in the market.
- The COVID-19 pandemic has influenced consumers’ spending habits and purchase decisions leading to a slight decline in the market growth by 1.77%, owing to various governments imposing multiple measures intended to slowdown spread of the COVID-19. Some basic initiatives include social isolation directives, limitations on business opening hours, and travel restrictions
- Furthermore, according to Forea Survey, skin care products, such as cleansers and moisturizers, increased by 10% to 20% in 2020. Moreover, 96% of consumers chose to invest in skincare rather than make-up during the pandemic. Using this opportunity, the players in operating the market dived into travel ready hygiene and skin care lines. For Instance,
- In 2020, Michelle launched an essential care kit Bluebag, which includes both hygiene and facial skin care products, like face cleanser, serum, an eye serum, hydrating cream, hydrating mist, and anti-bac hand cleanser and moisturizer.
Key Market Trends
Growing Appeal For Organic And Natural Products
The European skin care and hair care products market witnessed an increasing demand for natural and organic products, due to the rise in consumer awareness about the harmful effects of certain compounds, such as paraben and aluminum compounds present in skin care and hair care products. A high percentage of consumers choose one brand over others, based on its natural formulation. This enhanced the demand for safe, natural, and organic skin and hair care products in recent times. According to the association, Cosmetics Italy, hair and scalp care products held more than 10% of the overall natural cosmetic category in the country in 2017, after face care and body care. The study anticipates an increase in the share for hair care in the market during the forecast period. The high demand for natural ingredients is evident in the market studied. It has led to most companies launching products with nature-inspired ingredients, such as plant-based and premium botanical ingredients. For instance, in 2020, Rituals expanded its natural offerings with a body care line, including body scrub, shower cream, and body cream. The products are made using natural/naturally derived ingredients, including lotus, sweet almond oil, sugar, shea butter, and arrowroot powder. The company is planning to widen its formulas of natural origin to 90% by 2023.
Germany Hold Significant Share in the Region
In Germany, a growing number of people have gained awareness about the benefits of natural and organic products. Organic hair care products are available with a variety of specifications that are specially produced for different types of hair, such as dry scalp, normal, and oily scalp, with nature-inspired ingredients, such as plant-inspired and premium botanical ingredients. Furthermore, the demand for child skin care products is expected to increase in Germany as consumers are taking extra care to protect the delicate skin of babies and children against extended exposure to sunrays. Among adults, the demand for skin care products depends heavily on the weather conditions. However, many consumers take a more holistic approach, paying more attention to UV levels and their possible impact on skin health and ageing. Additionally, the players operating in the market are focusing on developing innovative lines or products to cater the growing demand toa achieve major market shares. For instance, In 2021, Beiersdorf personalized face care with the launch of its new brand, O.W.N (Only What’s Needed), which uses ingredients that are specially formulated for individualized skin care needs. The launch focuses on personalized skin care innovations based on individual needs and scientific findings.
The European skin care and hair care market is highly competitive, with a strong presence of regional and global players in the market, where the demand is mostly driven by more adaptation toward skincare routines and consumer awareness about brand know-hows. In 2019, the major player, Loreal SA, held the largest market share followed by Beiersdorf AG ,Unilever plc, The Procter & Gamble Company and The Estée Lauder Companies Inc among others. nOther prominent companies in the market studied are the Procter & Gamble Co., Amway, Natura & Co, and Beiersdorf AG, among others. These companies are further leading to high competition in the market. Companies are innovating their products and advertising advanced and niche categories, which can eliminate recurring problems faced by consumers due to pollution, aging, and lack of time for care.
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