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Sustainability Challenges Facing the Cosmetics and Personal Care Industry

Sustainability Challenges Facing the Cosmetics and Personal Care Industry
06/04/2018

An Overview of the Cosmetics and Personal Care Industry Valued at USD 130.7 Billion in 2016, the global cosmetics and personal care product market is expected to grow with a CAGR between 4.7% and 5.3% from 2017 to 2023.

Booming Beauty Industry The cosmetics and personal care industry can be divided into many smaller segments. These include make-up, skin care, hair products, fragrances and toiletries. Combined, these segments form an industry that continues to grow, evolve and doesn’t show any signs of slowing down.

Despite the future looking promising for the cosmetics and personal care sector, the industry still faces challenges and obstacles that it must overcome. This blog article focuses on the challenges impacting global cosmetics and personal care companies regarding environmental sustainability and ethical production.

Some of the most important sustainability challenges include eco-friendly packaging, green formulations, transparency and traceability, climate change, greenwashing, social impacts and water management.

Environmental Impact of Beauty Products In recent years, sustainability has become a key concern for many businesses in the cosmetics and personal care industry.

Because consumers have become more concerned about health, wellness and issues such as natural resource depletion and environmental degradation, the environmental performance of products and processes has become a key consideration.

At the same time, due to the rising number of beauty blogs, social media accounts and YouTube Channels dedicated to going chemical-free, consumers have access to more information than ever before.

Many consumers are now turning to ‘greener’ alternatives when it comes to beauty and personal care products. They are demanding products that do not harm their skin, nor the environment or society; as well as products that are natural, traceable and free from modified ingredients.

A recent green beauty survey, conducted by Kari Gran, further supports this claim. The survey found that consumers between the ages of 35-54 are increasingly going green with a large majority of them (69%) stating that natural products are important to them. What’s more, an even larger percentage (73%) of millennial consumers surveyed now demand cleaner, all-natural products.Also referred to as the ‘Beauty Industry’, the market has successfully proven its ability to accomplish strong and continuous growth, as well as its capacity to be resilient even when the economic climate has been unfavourable.

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