Zero Waste Shampoo Market to Witness 22% CAGR until 2023
Increasing
disposal of plastic waste from cosmetic products such as shampoo bottles
coupled with increasing demand and acceptance of organic hair care products
among young population to drive global zero waste shampoo market through 2023
As
per a Voice of Customer survey published by TechSci Research, sustainability
and less or no use of chemicals have been identified as the most influencing factors
while purchasing zero waste shampoos. It is estimated that by 2050, the ocean
will contain more plastic by weight than fish. Globally, humans produce 300
million tonnes of plastic waste every year, of which almost 80% is not
reclaimed or recycled. In United States alone, 552 million plastic shampoo
bottles were disposed of in 2017.
According to a TechSci Research report, “Global Zero Waste Shampoo Market
By Type, By Distribution Channel, By Region, Competition, Forecast and Opportunities, 2023”, the global zero waste shampoo market is
projected to register a CAGR of more than 22% during 2018 - 2023 on account of increasing
disposal of plastic waste from cosmetic products and rising inclination towards
organic and eco-friendly products, especially among the youth population. Growth in demand for zero waste shampoo
is also exhibiting a strong growth trend on account of a rising number of small
scale manufacturers promoting the sales of products with environmentally
sustainable packaging coupled with rising demand for organic hair care products.
Additionally,
rising government initiatives across various countries towards restricting the
use of plastics and exploitation of natural resources is further anticipated to
positively influence global zero waste shampoo market in the coming years.
Browse 100 market data Figures spread
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Lush
Retail Ltd., Ethique Beauty Ltd., Beauty and the Bees, Plaine Products LLC,
J.R. Liggett, Ltd., etc., are
some of the leading players operating
in the global zero waste shampoo market. Among regions, Europe dominated the market
in 2017 as the inclination towards adopting zero-waste philosophy is comparatively
higher in the region. On the basis of type, global zero waste shampoo market can be broadly
categorized into bar shampoo and liquid shampoo. The bar shampoo segment
accounts for majority share in the
market as zero-waste concept is majorly applicable to bar shampoos and has
proven to be much more cost effective in terms of shampoo usage.
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“Rising waste produced by cosmetics
industry from the supply side as well as the demand side is pushing various
cosmetics manufacturers to adopt zero-waste philosophy. Further, customers lack
awareness about zero-waste philosophy, which is an issue the manufacturers need
to address to promote an organic growth environment in the market. Additionally,
governments of various developed and developing countries are focusing on reducing
the amount of waste going to landfills, which is anticipated to steer growth in
global zero waste shampoo market during forecast period.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Zero
Waste Shampoo Market By Type, By Distribution Channel, By Region, Competition, Forecast and Opportunities, 2023” has
evaluated the future growth potential of global zero waste shampoo market and
provides statistics and information on market structure, size, share and future
growth. The report is intended to provide cutting-edge market intelligence and
help decision makers take sound investment decision. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities present in the global zero waste shampoo market.
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