SEP 17, 2019: The global tea-based skin care market size is expected to reach USD 278.4 million by 2025, according to a new report by Radiant Insights, Inc. It is expected to register a CAGR of 7.5% during the forecast period. Rising importance of tea extract as a natural ingredient in skincare products owing to its various benefits is projected to drive the growth. The presence of antioxidants, vitamin B, vitamin E, folate, caffeine, potassium, magnesium, and manganese in tea extracts helps hydrate the skin and reduce the occurrence of signs of aging, eczema, clogged pores, and acne among other skin problems. White and green tea are the most prominently types of tea used in the skincare and cosmetics industry.
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In 2018, facial care segment held the leading market share of over 65% in terms of revenue. This segment comprises of a variety of products including mask, cleanser, toner, serum, cream, moisturizer, mist, and sun care cream. Consumer preference for plant-based body care products as a result of rising concerns pertaining to animal slaughter is expected to drive the segment growth in the forthcoming years.
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Asia Pacific led the tea-based skincare market with a revenue share of over 30% in 2018. South Korea, Japan, China, Hong Kong, India, Singapore, Thailand, and Taiwan are some of the prominent regional markets. Europe, on the other hand, is expected to witness the fastest growth over the forecast period, owing to rising demand for organic beauty products. A steady rise in vegan population in U.K., Germany, Iceland, Italy, Sweden, and Poland among other countries is expected to positively influence the regional growth. AmorePacific, one of the key manufacturers of beauty products from South Korea aims to expand its business in Europe by launching its luxury brands Sulwhasoo and Laneige in France, U.K., and Germany.
Major competitors in the tea based skin care 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. New product launches is expected to remain one of the critical success factors for the market players over the next eight years. In July 2018, U.S.-based Schmidt’s Naturals launched a new Body Wash in Jasmin Tea scent.
Further key findings from the report suggest:
• Online distribution channel is expected to expand at the fastest CAGR due to the high adoption of smartphone and online shopping, especially among millennials
• In terms of product, facial care held the leading market share of more than 65% in 2018
• Offline distribution channel held the largest market share of over 75% in terms of revenue in 2018
• Europe is projected to register the fastest CAGR of 8% from 2019 to 2025 as a result of increasing importance of vegan cosmetics in prominent markets including Germany, France, and U.K.
• The tea-based skincare market leaders are projected to increase the spending on the launch of new skincare products to gain greater market share
Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. Tea-Based Skincare Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Business Environment Analysis
3.5.1. Industry Analysis – Porter’s
Continued…
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