DUBLIN–(BUSINESS WIRE)–Research and Markets has announced the addition of the “Global Organic Skincare Products Market 2016-2020” report to their offering.
The analysts forecast the global organic skin care products market to grow at a CAGR of 10.18% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Rising need for organic anti-aging products will be a key trend for market growth. Consumers, especially the aging population, are increasingly looking for methods and products to maintain and improve their appearance and look youthful. Currently, out of the total elderly population in the world, the above 65 segment is the fastest growing and constitutes 8% of the total global population. This share is expected to double and reach 16% by 2050. It is also estimated that over the next 10-15 years, baby boomers will turn 65 at the rate of 8,000 individuals per day. Baby boomers constitute a major percentage of the global aging population and accounted for a 75% share of the global anti-aging product market in 2014. The rise in the aging population is therefore expected to drive the growth of the market.
According to the report, demand for multifunctional organic skin care products will be a key driver for market growth. There is significant demand for multifunctional products because of the convenience they offer in terms of time and function. Personal care and beauty products that offer multiple benefits are popular in the market today, especially among consumers who have busy schedules and are cost conscious, and therefore opt for streamlined solutions.