Global Organic Personal Care Market Expected to Get USD 20.88 Billion by 2022
In 2012, the global Organic Personal Care Market was evaluated around USD 7.67 billion and is expected to reach approximately USD 20.88 billion by 2022 while registering itself at a compound annual growth rate (CAGR) of 10.53% over the forecast period owing to rising awareness amongst the consumers concerning personal health safety is anticipated to sustain the growth of market during the forecast years. Declining utilization of hazardous chemicals such as aluminum salts, phthalates, and parabens along with dedicated efforts from several multinational companies of changing in the direction of sustainable products have led to rising personal care organic products consumption. Though, instability in raw material availability is anticipated to cause a threat during the projected period. Superior lifestyle standard along with increasing disposable earnings of the middle-class working population in developing countries of AsiaPacific like Malaysia, China, and India is projected to drive the industry growth. Constantly ongoing R&D along with technological innovations in the field of processing as well as costeffective manufacturing are major responsible factors for augmenting market growth during the last few years and the drift will carry on during the next few years. Authorization from human health & safety regulatory organizations like FDA and the United States Department of Agriculture (USDA) for the utilization of bio-based and organic ingredients is anticipated to fuel the growth of the global market. Growing R&D for the advent of customized and advanced