by The Australia skincare products market is comprised of an extensive range of natural, organic and innovative skin care products including face creams, lotions, cleansers and oils, which are largely used for skin nourishment, protection from sun damage and aging. The increasing awareness regarding the benefits of organic skincare ingredients and rising consumer inclination towards natural and chemical-free products is driving the demand for organic and natural skincare products in Australia. The organic personal care industry in Australia is witnessing a substantial growth with rising concerns over synthetic ingredients in skincare products which can potentially harm skin over time.
The global Australia Skincare Products Market is estimated to be valued at US$ 2693.81 Mn in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
The increasing adoption of natural and organic skincare products is one of the key drivers propelling the growth of Australia skincare products market. According to the Australian Organic Market Report 2019, the organic personal care industry in Australia grew approximately by 13% per year between 2016 and 2019. This growth is attributed to increasing demand for chemical-free, safe and environmentally sustainable skincare products. Furthermore, rising disposable incomes and improving living standards have enabled consumers to spend more on premium natural skincare products. The expanding distribution channels such as e-commerce platforms, specialty stores and supermarkets are also facilitating the easy availability of a wide range organic skincare brands, thus positively impacting the market growth.
Segment Analysis
The Australia skincare products market is segmented on the basis of product type, consumer group, gender, price range, ingredient, distribution channel, and sales channel. The facial care sub-segment dominates the market and holds the largest market share. This is because consumers are becoming increasingly aware of skin problems like aging, dryness, acne, and pigmentation and are focusing more on regular skin care routines.
PEST Analysis
Political: The Australian government has created strict environmental regulations to curb pollution and promote the use of sustainable packaging materials. This has encouraged skincare brands to opt for eco-friendly packaging.
Economic: Rising disposable incomes and growing beauty consciousness among Australians has boosted spending on premium skincare products. Large spends are being directed towards organic, natural, and luxury brands.
Social: Changing lifestyles, increase in working women population, focus on appearance, and rise of social media are the key social trends driving the market. Skincare has become an integral part of self-grooming and social image.
Technological: Digital marketing platforms have enabled brands to target customers better through customized ads and influencer marketing. E-commerce has also augmented product discovery and affordability of premium products.
Key Takeaways
The global Australia Skincare Products Market Share is expected to witness high growth. The global Australia Skincare Products Market is estimated to be valued at US$ 2693.81 Mn in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2031.
The Australia market has seen fast growth over the past few years fueled by the urban millennial population with rising spending power. New South Wales held the largest share in 2021 owing to the high population density in cities like Sydney and booming e-retail sector.
Key players operating in the Australia skincare products market are Graphic Packaging International, Dart Container Corporation, Konie Cups International Inc., Huhtamaki OYJ, Kap Cones Private Limited, Eco-products Inc. (Waddington North America), Phoenix Packaging Operations LLC, Detmold Group, Benders Paper Cups, Georgia Pacific LLC (Koch Industries Inc.), Go-Pak UK Ltd, and Genpak LLC (Great Pacific Enterprises Inc.). Key players are focusing on strengthening their product portfolio via innovation and leveraging digital platforms to improve customer engagement and drive sales.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
