According to a new report by Research and Markets the natural and organic personal care market is set to grow at a CAGR of 9.58 per cent during 2014 to 2019.
Key drivers in the market are said to be L’Occitane, L’Oreal, Oriflame, Yves Rocher and Weleda, while the hair care segment represents the second largest segment in the market. The strong demand for natural and organic hair oils, shampoos, conditioners, and serums is said to be down to an increase in hair and scalp related problems. These include dandruff, itching, flaking, lice, hair fall, split ends, tangling, aging of hair, and damaged hair.
Another driver is attributed to manufacturers creating products specific to varied consumer groups. For instance Nature’s Child offering organic cotton baby products such as nappies, baby wipes, face wipes, and body balm.
The growth in the market follows the European economy being on the mend from the Eurozone crisis and the 2008-2009 recession. With lifestyles changing and improved standards of living, growing consciousness about health and the environment, are said to lead to increase demand for natural products in the forecast period.
Meanwhile a rise in GDP and PPP has led to higher disposable incomes and, as a result, a willingness to spend more on natural and organic products.