PUBLISHER: Orion Market Research | PRODUCT CODE: 1215764
PUBLISHER: Orion Market Research | PRODUCT CODE: 1215764
Title:Global Goat Milk Cosmetics Market Size, Share &Trends Analysis Report by Product Type (SkinCare Products, Hair Care Products, Bath and Shower Products, and Others), and by Distribution Channel (Online and Offline) Forecast Period (2022-2028).
The global goat milk cosmetics market is anticipated to grow at a considerable CAGR of 8.1% during the forecast period. Shifting consumer preference towards natural, organic, and handcrafted products from luxury products is the major factor driving the demand for the goat milk cosmetics market. Customers are increasingly seeking skin care, hair care, and bath products made from natural materials in handcrafted quality and are moving away from branded and luxury items. Increasing awareness of the beneficial effects of organic cosmetics on the skin encourages customers to adopt skincare and cosmetics infused with goat milk over chemical-based ingredients. This growing popularity of natural cosmetics is paving the way for new brands to emerge in the market with the launch of cosmetics with goat milk.
The global goat milk cosmetics market is segmented based on product type, and distribution channel. Based on the product type, the market is segmented into skincare products, hair care products, bath and shower products, and others. Based on distribution channels, the market is categorized as online and offline. Among the distribution channel, the online channel segment is anticipated to show the fastest growth during the forecast period owing to the availability of a wide range of products coupled with a hassle-free buying process. The online channel is gaining higher attraction among the manufacturers as it offers the buyer with attractive discounts, and deals, facilitate ease of purchase and delivery through different payment options. With the emergence of social media, e-commerce platforms, and online reseller platforms, market players are further extending their services to provide convenience to the consumer. For instance, in 2020, Lavish Goat, a company specializing in handmade goats milk soap and skin products launched its online virtual shop.
Geographically, the global goat milk cosmetics market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia-Pacific is anticipated to hold a considerable share in the global goat milk cosmetics market owing to the huge availability of goat milk and increasing customers' desire for organically derived cosmetics products in this region. According to Food and Agriculture Organization (FAO), milk from dairy species other than cattle represents 40% of milk production in Asia-Pacific. Owing to the large availability of goat milk in this region, skin care products with goat's milk are making their way into mainstream cosmetic products in various skin care and hair care products.
The major companies serving the global goat milk cosmetics market include Bend Soap Co., Crabtree & Evelyn, Ltd, Dr. Squatch, LLC, Goat Milk Stuff LLC, Legend's Creek LLC, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in 2021, MeSovu (Fiji) Pte Ltd. Launched its first goat milk soap in Nadi. MeSovu (Fiji) Pte Ltd. Will employ two soapmakers in January 2022 and is supplied goat milk from three farms, which will extend to five farms.
Research Methodology
The market study of the global goat milk cosmetics market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of the market size, and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers: