A new report by Future Market Insights (FMI) projects an increase of 6.1%/year in the herbal beauty products market between 2021 and 2031 as demand for these products grows all around the world.
This will be driven by a number of factors, FMI said:
- Increasing consumer inclination towards a healthy lifestyle
- Veganism among millennials driving the general shift towards green beauty products
- Within the male grooming sector, changing attitudes towards body care and beauty products along with the media portrayals of ‘lumbersexuals’ and ‘metrosexuals’
“Players currently operating in the market are focusing on innovations to expand their portfolio. Some are even targeting specific skin problems to carve a niche amidst soaring competition. Meanwhile, leading brands are expanding their availability across e-commerce platforms to gain competitive edge,” said an FMI analyst.
