In 2015, the market for organic cosmetics in ASEAN was valued at US$40 billion overall. The market is anticipated to achieve a total valuation of US$66 billion throughout the provided forecast period of 2016 to 20224. A significant CAGR of 10.0% during the same period of the forecast is anticipated to fuel the expansion of the ASEAN market for organic cosmetics. The most recent report from Future Market Insights, “Organic Cosmetics Market: ASEAN Industry Analysis and Opportunity Assessment, 2014-2024,” details the various factors influencing the overall growth of the ASEAN organic cosmetics market.
Growing public awareness of the potential negative effects of synthetic cosmetics is anticipated to be a key factor in the growth of the global organic cosmetics industry. A favorable attitude toward organic cosmetics, the accessibility of a wide variety of organic cosmetics, and the rising purchasing power of middle-class consumers in ASEAN are some of the additional key factors fueling the market’s overall expansion. Taking into consideration these variables, it is predicted that the ASEAN market for organic cosmetics would expand at a consistent CAGR of 9% through the year 2020, bringing in an estimated US$4.4 billion.
The ASEAN market for organic cosmetics is expanding generally, however, several constraints are limiting its expansion. The high price of these products is one of the main barriers preventing the market growth of organic cosmetics. In addition, there is a glaring absence of uniform certification for these items and an extremely short shelf life for these organic cosmetics. These constraints are also anticipated to hinder the ASEAN market’s expansion for organic beauty products and could prevent it from developing to its full potential.