Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Tea-based Skin Care market.
Trusted Business Insights presents an updated and Latest Study on Tea-based Skin Care Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Tea-based Skin Care market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Industry Insights, Market Size, CAGR, High-Level Analysis: Tea-based Skin Care Market
The global tea-based skin care market size was valued at USD 168.2 million in 2018 and is anticipated to expand at a CAGR of 7.5% during the forecast period. Rising awareness regarding the antioxidant, anti-inflammatory, and anti-aging properties of tea extract is expected to drive its application in cosmetics and skincare products. This factor is projected to fuel the market growth. Moreover, rising awareness regarding vegan beauty products in light of growing socio-economic concerns over animal will further drive the growth.
Tea contains high concentration of antioxidants, vitamin B, vitamin E, caffeine, tannin, folate, potassium, manganese, and magnesium. These ingredients prevent and delay the signs of aging and improve appearance of the skin. Vitamin E promotes cell regeneration, hydration, and nourishment. Tannins control sebum production and help treat oily skin. As a result, tea extract is used as an active ingredient in various skincare formulations. All these factors are anticipated to drive the demand for tea-based skincare products in near future.
Different types of tea including white, spearmint, oolong, hibiscus, and green are majorly used for tea-based skincare products. White tea extract helps retain moisture and prevent damage caused by sun exposure. Spearmint, oolong, and hibiscus tea help reduce skin problems, such as acne, eczema, and clogged pores. Green tea is the most popular ingredient used in the cosmetics industry owing to its antioxidant, anti-inflammatory, and antibacterial properties.
Rising consumer preference for natural or organic beauty products is expected to bode well for the tea-based skin care market. The demand is driven by rising environmental awareness and concerns about the harmful effects of synthetic cosmetics. Furthermore, factors such as rapid urbanization and increasing purchasing power of middle-class population in emerging economies like China, India, and Brazil, are anticipated to fuel the demand for tea-based skincare products in near future.
Product Insights of Tea-based Skin Care Market
Facial skincare product segment held the largest market share of more than 65% in 2018. Face cream, moisturizer, cleanser, toner, mask, serum, sun care, and mist are among the popular products in this category. Rising demand for tea-based facemasks is anticipated to bode well for the segment growth. These facemasks are rich with antioxidants and vitamin B-2 that help reduce signs of aging and maintain collagen levels and firmness of the skin.
Rising demand for natural and organic products is anticipated to fuel the demand for tea-based skincare products. Manufacturers focus on expanding their product portfolio by introducing products such as body soap, body wash, lotion, and oil. For instance, in July 2018, Schmidt’s Naturals, a U.S. based body care brand, launched its Jasmine Tea Body Wash.
Distribution Channel Insights
Offline distribution channel held the largest market share of over 75% in 2018. Supermarkets and specialty stores contributed to majority of sales of the offline retail outlets. Consumers prefer brick and mortar stores as they can physically view the products before buying. It also allows product testing and assistance from brand representatives. This factor is anticipated to drive the segment growth over the forecast period.
On the other hand, the online distribution channel segment is projected to witness the fastest CAGR of 6.0% from 2021 to 2026. Convenience is the major driving factor for the segment. These websites offer a wide range of products, easy comparison and selection based on specific customer needs, and attractive discounts. Quick product delivery is also anticipated to bode well for the segment growth. Major e-retailers of tea-based skincare products include Amazon; Sephora; Ulta Beauty, Inc.; Strawberrynet; and Feelunique International Limited.
Regional Insights of Tea-based Skin Care Market
Asia Pacific held the leading market share of more than 30% in terms of revenue in 2018. The use of natural and organic ingredients in beauty products has gained remarkable traction in this region. South Korea, China, Japan, Hong Kong, Singapore, India, Taiwan, and Thailand are the prominent markets in Asia Pacific. Presence of key manufacturers, including AmorePacific Corporation, Lu Ming Tang, SkinYoga, Organic Tea Cosmetics Holdings Co Ltd., and Soh-cha, has played a crucial role in promoting product visibility in the region. Asia Pacific has a long history of tea culture, which has boosted the production sector due to easy availability of raw material. Green tea is the most popular ingredient used in the tea-based skincare products manufactured in the region. More than half of the tea-based skincare products in China contain green tea. White and green tea extracts are gaining significant popularity in Japan.
Tea-Based Skin care Market Share Insights
The tea based skin care market is fragmented in nature with the presence of a large number of small and local producers and a few large players. Major competitors operating in the market include AmorePacific Corporation; Lu Ming Tang; Organic Tea Cosmetics Holdings Co Ltd.; Natura & Co; L’Oreal S.A.; Avon Products, Inc.; Unilever; 100% PURE; SkinYoga; Schmidt’s Naturals; and ArtNaturals. Leading cosmetics companies have been expanding their product portfolio to cater to the rising demand fororganic and tea-based skincare products. For instance, in June 2019, Unilever acquired Tatcha LLC, a Japan-based modern skincare brand to expand its natural product segment.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Tea-based Skin Care Market Research Report
This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global tea-based skin care market report based on product, distribution channel, and region.
Product Outlook (Revenue, USD Million, 2019 – 2030)
Distribution Channel Outlook (Revenue, USD Million, 2019 – 2030)
Quick Read Table of Contents of this Report @ Tea-based Skin Care Market Size, Share, Market Research and Industry Forecast Report, 2020-2026 (Includes Business Impact of COVID-19)
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