The global Circular Beauty Products Market value increased 5.2% year on year (YoY), reaching US$ 2.3 billion at the end of 2021. Circular beauty product sales are predicted to expand at a 5.8% CAGR to reach $4.2 billion by the end of 2032.
Personal care product sales are expected to grow 1.7X to US$ 2.9 billion by 2032.
The COVID-19 outbreak has taught the world to be cautious about consumption and the environmental impact of daily habits. The global food issue has long been debated, but the current situation has compelled us to act quickly.
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Market Drivers:
Consumer worries about the sustainability and environmental impact of beauty products are driving the circular beauty industry. In the future, emphasis on reviving waste or expired food from malls, supermarkets, and households that has a high protein content and might be utilized to make circular beauty products.
Because of advancements in raw material compounds, the circular beauty products market developed significantly in 2021. Innovations in sustainable beauty goods, sustainable luxury beauty products, research and development, and the digital channels via which they are provided in the market are driving circular beauty product sales.
Competitive Analysis:
- Aquafaba (chickpea salt water, which is generally wasted) has the same qualities as egg white and can be used as a substitute in hair care products. Lush has introduced a vegan protein shampoo with Aquafaba, which has protein and saponin characteristics that preserve and strengthen thin hair.
- UpCircleBeauty, a British firm, introduced an oil, scrub, and soap bar made from spent coffee grounds and chai spice granules.
- Daylesford Organic introduced a bitter orange hand balm made with cold-pressed citrus aurantium from Seville orange peels.
- Fruu combines a locally created series of small batches of processed fruit waste bi-product beauty, such as natural lip balm, to make biodegradable beauty goods and sustainable formulas, while also increasing revenue for small fruit growers.
Fact.MR has provided detailed information about the overall strategies used by circular beauty product brands, as well as a detailed overview and sales analysis of circular cosmetic products, top circular beauty product manufacturers, including SWOT analysis, and sales generated from target circular beauty product manufacturers located across geographies which is very helpful.
Key Players:
- Augustinus Bader
- BYBI
- Caudalie
- Chanel
- Circumference Inc.
- Earth Harbor
- Fruu
- Lush
- Mark & Spencers
- Monta
- Rabot 1745
- Superzero
- The Body Shop
- Three Ships
- UpCircle Beautyz
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Regional Analysis:
The worldwide circular beauty products market is fast developing in developed areas such as North America, owing to the region’s increased proportion of luxury items.A increasing consumer focus on health and personal grooming, as well as an aging population, are some of the reasons driving market expansion. Furthermore, rising personal care spending, particularly in the United States, is one of the major drivers driving the increase of demand for circular beauty goods in the United States.
The North American circular beauty product market accounts for 28.2% of the worldwide market and is predicted to grow at a 5.5% CAGR. Furthermore, the circular beauty products industry in the United States is expected to reach US$ 1.1 billion by 2032.
Key Segments of Industry:
- Circular Beauty Products Market by Product :
- Personal Care
- Body Care
- Skincare
- Haircare
- Fragrances
- Makeup
- Others Products
- Personal Care
- Circular Beauty Products Market by Consumer Orientation :
- Male Circular Beauty Products
- Female Circular Beauty Products
- Circular Beauty Products Market by Sales Channel :
- Online Sales Channels
- Company Websites
- e-Commerce Platforms
- Offline Sales Channels
- Hypermarkets/Supermarkets
- Modern Trade Stores
- Brand Stores
- Beauty Salons
- Pharmacies
- Online Sales Channels
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