The global tea-based skin care market size is projected to touch USD 278.4 million by 2025, according to a new report by Million Insights. It is anticipated to grow at a CAGR of 7.5% through the forecast period of 2019 to 2025. Increasing awareness regarding the benefits of tea-extracts in skincare products is driving the growth of the industry. The presence of vitamin B, antioxidants, vitamin E, caffeine, folate, manganese, magnesium and potassium in tea-extracts helps in keeping the skin hydrated, reducing the occurrence of acne, clogged pores, eczema and signs of aging.
Facial care segment dominated the market with more than 65% of share in the total revenue. Mist, toner, sun screen, mask, moisturizer, serum, cleanser, face cream, and cleanser are some of the popular products of this segment. Increasing preference of consumers towards organic and natural products is anticipated to drive the growth of the tea-based skincare market.
Asia Pacific region dominated the market with over 30% of share in the total revenue in 2018.India, Japan, South Korea, Malaysia, Singapore, Thailand, Taiwan, Hong Kong and China are the major markets in this region. On the other hand, Europe is anticipated to grow at the fastest CAGR in the forecast period. A significant rise in vegan population in countries like Italy, Germany, Iceland, U.K., Poland and Sweden is anticipated to have a positive impact on the growth of the regional market.
Key players functioning in the industry include L’Oreal S.A.; Schmidt's Naturals; ArtNaturals; Avon Products, Inc.; Unilever; A more pacific Corporation; 100% PURE; SkinYoga; Lu Ming Tang; Natura & Co; and Organic Tea Cosmetics Holdings Co Ltd. Developing new and innovative products will be a critical factor of success for the industry in the forecast period.
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Further key findings from the report suggest:
• The online channel of distribution is anticipated to grow at the fastest CAGR owing to increasing adaption of smart phones and online shopping amongst millennials
• Facial care dominated the product segment with more than 65% in the total revenue in 2018
• Offline distribution channel dominated the tea-based skincare market with more than 75% of share in the total revenue in 2018
• Europe is anticipated to grow at the fastest CAGR of 8% in the forecast period owing to rising importance of vegan beauty products in the major markets of France, U.K. and Germany.
• The market leaders are focusing on expanding their product portfolio to meet the demand of the consumers and gain a competitive edge over one another.
Million Insights has segmented the global tea-based skin care market on the basis of product, distribution channel and region:
Tea Based Skin Care Product Outlook (Revenue, USD Million, 2015 - 2025)
• Facial Care
• Body Care
Tea Based Skin Care Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
Tea Based Skin Care Region Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• South Korea
• Central & South America
• Middle East & Africa
• Saudi Arabia