What The Future Of Organic Products Market Looks Like
The growth of the global natural and organic personal care product market is driven by factors such as the expansion of distribution channels, increasing online customer reach, and modern retailers’ shift towards offering premium personal care products on shelves.
Based on a report by Assocham and Ernst & Young, the organic products market in India has been growing at a CAGR of 25 per cent and it is expected to reach ₹10,000-₹12,000 crore by 2020. The current market size is of ₹4,000 crore.
Reason Behind The Exponential Growth Rates
Organic products are increasingly becoming the choice of the day. People are growing aware of the benefits of these products. In the past few years, there was an explosion of chemicals based products. This was a drastic shift. As the earlier generations were more inclined to homemade and natural products.
There were many instances where it was found that cheaper varieties of the products used harmful chemicals that resulted in disastrous results. As a result of which people contracted life-threatening problems. This has created ripples of awareness across the globe and there was a need felt for some regulatory and monitoring bodies to keep such malpractices in check. People now are again opting for natural products unless they are beyond their reach.
Shift in Lifestyle
There has been a significant shift in lifestyles. As the culture is growing towards more nuclear families, most women in families these days work, thus there is more disposable income to spend. Millennials want to look all the time but are also conscious about their health. Hence, organic products are the best alternative to cosmetics.
Increased Health Awareness
The increased awareness has contributed to consumers understanding and appreciating the connection between health and natural products. They realize through their or others experiences that using safe organic products can save them a lot of pain and expenses on medical treatments.
This Article Is Written By Rishu Gandhi, Founder & Head- Brand Strategy, Mother Sparsh