11.01.23
The global clean beauty market is poised for substantial growth—and is forecasted to rise to $14.36 billion by 2028 according to Research and Markets.
Valued at $7.2 billion in 2022, the clean beauty market is expected to grow at a remarkable CAGR of 12.1% from 2023 through 2038.
"Clean beauty is not merely a rising trend; it signifies a fundamental and long-lasting shift in the consumer's approach to personal care," the report states.
"Clean beauty" means non-toxic ingredients and full ingredient transparency. It has become a significant trend among consumers who are increasingly conscious of product labels.
Clean beauty products embrace lab-created ingredients if they are deemed safe—but prioritize the absence of toxins.
A rising consumer awareness towards natural products and a preference for clean beauty products are driving market growth, the report says. Consumers are increasingly choosing brands that prioritize product safety—and also sustainability.
One challenge is the absence of a regulatory body or industry-wide standards. "The lack of industry-wide standards has led to ambiguity in the definition of 'clean beauty,' the report says, causing confusion among consumers."
Clear and uniform industry standards are needed to boost consumer confidence.
Key players in the clean beauty market—and included in the report—are: e.l.f. Beauty, Inc., The Honest Company, Inc., Estee Lauder Companies Inc., Natura & Co (Avon Products, Inc.), LVMH (Sephora), Orveon (BareMinerals), Beautycounter, Credo Beauty, Ilia Beauty, NakedPoppy, Ere Perez, and RMS Beauty.
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