Press release
Awareness Of Personal Care Boosts Growth In Circular Beauty Products: Major Factor in the Transformation of the Circular Beauty Products Market in 2025
In recent times, the market size for circular beauty products has experienced significant growth. From 2024 to 2025, the market is projected to rise from a value of $2.54 billion to $2.72 billion, indicating a Compound Annual Growth Rate (CAGR) of 7.1%. Factors such as increased consciousness of environmental problems among consumers, a lean towards clean and natural beauty products, concerns about plastic waste, the escalating acceptance of refillable product systems, and minimalistic trends in beauty routines have all contributed to this historic period of growth.
In the coming years, the market size for circular beauty products is anticipated to experience robust growth, reaching a valuation of $3.55 billion by 2029 with a compound annual growth rate (CAGR) of 6.9%. The upwards movement in the forecasted period can be credited to the increasing focus on carbon-neutral manufacturing processes, heightened consumer inclination towards zero-waste goods, the advocacy from environmental activists, the rising prices of raw materials propelling circular solutions, and investments in closed-loop supply networks. The forecast period is also expected to witness certain key trends that include partnerships between beauty brands and recycling firms, a shift towards waterless beauty merchandise to minimise waste, creation of bio-based substitutes for plastic, customization of beauty products incorporating sustainable ingredients, and consumers' demand for clarity in sourcing and packaging procedures.
What Key Elements Are Boosting Growth in the Circular Beauty Products Market?
The upswing in consciousness regarding individual grooming has been identified as a key propellant for the ongoing expansion of the circular beauty products industry. Personal care encompasses empathetic help and careful monitoring for persons undertaking everyday activities and upholding their personal hygiene, in order to safeguard their health and uphold their respect and lifestyle quality. This growing consciousness concerning personal care is fueled by an escalating consumer demand for organic and natural products and an emphasis on health and wellness. Furthermore, the older population's quest for anti-aging solutions and the younger demographic's inclination toward customized and gender-neutral products also contribute. Circular beauty products play a pivotal role in enhancing awareness about personal care as they promote sustainability, decrease waste, and motivate users to make eco-conscious choices. For example, a report by the Bureau of Labor Statistics, a government agency in the US, revealed in December 2023 that there was an increase in average annual expenses from $66,928 in 2021 to $72,967 in 2022, with a 12.3% increase to $866 in expenditure on personal care products and services. This was in contrast to the 10.9% increase in apparel and services. Thus, the burgeoning awareness regarding personal care is fuelling the growth of the circular beauty products industry.
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Who Are the Major Industry Players Fueling Circular Beauty Products Market Expansion?
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
Which Key Developments Are Influencing the Circular Beauty Products Market?
Leading firms in the circular beauty products market, such as Chanel, are leveraging the consumer demand for sustainable and eco-friendly solutions by embracing the development of refillable products. This innovative move not only minimizes waste generation but also effectively reduces companies' carbon footprints. Opting for refillable beauty products is an environmentally conscious choice, where the consumers elect to purchase refills rather than discarding the entire package post-consumption. The UK-based luxury fashion house, Chanel, for instance, debuted No. 1 de Chanel in January 2022. This range accommodates refillable beauty items designed to lessen environmental harm. Here, the consumers can opt to reuse the stylish packaging, thereby reducing single-use container waste. The fusion of aesthetic appeal and sustainability supports the notion of mindful consumption in the upscale beauty realm, underpinned by nature-derived ingredients and recyclable components.
How Is the Segmentation of the Circular Beauty Products Market Defined?
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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What Is the Leading Region in 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.
What Is Covered In The Circular Beauty Products Global Market Report?
- Market Size Analysis: Analyze the Circular Beauty Products Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Circular Beauty Products Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Circular Beauty Products Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Circular Beauty Products Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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