How Has the Circular Beauty Products Market Size Evolved in Recent Years?
The circular beauty products market has seen considerable growth due to a variety of factors.
• The market size of circular beauty products has seen a robust expansion in the past years. It is forecasted to escalate from $2.54 billion in 2024 to $2.72 billion in 2025, with a compound annual growth rate (CAGR) of 7.1%.
The growth during the historic period is primarily due to an enhanced understanding of environmental issues among consumers, an increasing inclination towards clean beauty and organic products, mounting concerns over plastic waste, a surge in the acceptance of refillable products, and a burgeoning trend of minimalism in beauty regimens.
What Is The Forecast For The Circular Beauty Products Market Size?
The circular beauty products market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size for circular beauty products is anticipated to witness robust growth, projected to reach $3.55 billion in 2029 with a 6.9% compound annual growth rate (CAGR). This prospective increase during the forecast period can be tied to the rising emphasis on carbon-neutral manufacturing, growing customer preference for products that don't generate waste, environmental groups' influence, the high expense of raw materials pushing for circular resolutions, and investments in cyclical supply chains. Notable trends during the predictive period encompass partnerships between beauty businesses and recycling corporations, a shift towards water-free beauty commodities for waste reduction, the creation of bio-based plastic alternatives, personalized beauty items featuring eco-friendly constituents, and consumers demanding transparency concerning sourcing and packaging.
What Are The Essential Drivers Behind The Growth Of The Circular Beauty Products Market?
The growth of the circular beauty products market is forecasted to be driven by heightened consciousness surrounding personal care. The term 'personal care' encompasses compassionate help and supervision extended to individuals to help them carry out daily life tasks and uphold personal hygiene, thereby safeguarding health, dignity, and life quality. Factors contributing to personal care awareness include increased consumer preference for natural and organic items, an intensified focus on health and wellness, the elderly population's requirement for anti-aging products, and the younger generation's inclination towards customized and gender-neutral products. Circular beauty items have played a major role in amplifying personal care consciousness, thanks to their advocacy for sustainability, waste reduction and fostering environment-friendly decision-making in consumers. For instance, the Bureau of Labor Statistics, a US government organization, in their December 2023 report, disclosed that average annual expenses jumped from $66,928 in 2021 to $72,967 in 2022. In the same period, personal care products and services spending increased by 12.3% to $866, an increase relatively higher than the 10.9% rise in apparel and service expenditure. Hence, the growing consciousness about personal care fuels the circular beauty items market.
How Is The Global Circular Beauty Products Market Divided Into Key Segments?
The circular beauty productsmarket covered in this report is segmented –
1) By Product: Personal Care, Fragrances, Makeup, Other Products
2) By Consumer Orientation: Male Circular Beauty Products, Female Circular Beauty Products
3) By Application: Offline Sales, Online Sales
Subsegments:
1) By Personal Care: Skin Care, Hair Care, Body Care, Oral Care
2) By Fragrances: Eau De Parfum, Eau De Toilette
3) By Makeup: Face Makeup, Eye Makeup, Lip Products, Nail Products
4) By Other Products: Bath Products, Men’s Grooming Products, Beauty Tools And Accessories
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How Are New Trends Impacting The Size Of The Circular Beauty Products Market?
Leading entities in the circular beauty products market are innovating refillable items to minimize litter, shrink their carbon footprints, and cater to the increasing customer demand for sustainable and ecologically sound options. Refillable beauty merchandise represents an eco-friendly packaging method in the beauty industry, enabling customers to reuse containers by purchasing refills instead of throwing away the entire package post usage, thus curbing waste and endorsing green practices. For example, Chanel, a luxury clothing company based in the UK, introduced No. 1 de Chanel in January 2022. This range comprises refillable beauty products that lessen environmental harm by allowing customers to reuse chic packaging, thereby decreasing waste produced from single-use containers. By blending sophisticated design with sustainable operations, this approach promotes mindful consumption within the luxury beauty domain through natural components and recyclable materials.
Who Are the Key Players In The Circular Beauty Products Market?
Major companies operating in the circular beauty products marker are:
• L’Oréal S.A.
• Colgate Palmolive Company
• Chanel
• Estee Lauder Companies Inc.
• Kao Corporation
• Unilever
• Coty Inc.
• L'Occitane Group
• Lush Retail Ltd.
• Circumference Inc.
• Weleda
• Caudalie
• Tata Harper
• O'Right Inc.
• Earth Harbor
• Alima Pure
• UpCircle Beauty
• Kjaer Weis
• SBTRCT Skincare
• Plaine Products LLC
• Ethique
• Skin & Tonic London
What Are The Regional Insights Into The Circular Beauty Products Market?
North America was the largest region in the circular beauty products market in 2024. The regions covered in the circular beauty products marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
