TAGS: Natural/ Organic
According to a new report by Future Market Insights (FMI), the rising demand for clean label certifications, including non-GMO, vegan, cruelty-free, and others within the cosmetics industry will boost the organic cosmetics market. The market is expected to reach USD 187.4 Mn by 2021.
Consumers Demand Full Transparency
Natural claims have, apart from being important product purchase drivers when combined with product efficacy claims and brand identity, triggered the sustainability quotient. Consumers also have begun demanding full transparency from cosmetic companies with regards to their sourcing methods, product, ingredients and sustainability practices.
The pressure on cosmetics brands and manufacturers to demonstrate their social and environmental credentials is increasing; so more of them are finding ways to transform their own brands through sustainability-focused products, services and consumer experiences.
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Social media has put spotlight on male beauty. Though the bold and expressive looks as on magazine covers and elsewhere aren’t mainstream, both big and small beauty brands are aiming to create a wider appeal of male cosmetics for everyday use. The breaking of stereotype and normalizing of makeup for boys shows potential to drive the baby organic cosmetics segment over time,” said an FMI analyst.
Companies to Introduce Innovative Products
The players in the market are promoting their products by using various eye catching connotations like ‘synthetic free’, ‘non-toxic’, 100% natural and organic, chemical free and many others. Antimicrobial is the new connotation that is currently used to market baby products.
The change in consumer buying preference has encouraged the players in the market to stimulate innovation and expand the portfolio, tapping the unexposed segments of the industry and as a result escalating the demand over the forecast period. In terms of product type, skin care accounts for a notable share. By 2021, skin care segment is expected to hold more than 40 percent of the global market.
Source: Future Market Insights