There is expected to be a considerable increase in the use and demand of cosmetics by upto $9.9 billion dollars in the year 2016. In other words, one can expect a rise of 5% every year till 2016. If you are considering setting up your own business in the cosmetic industry, then you would surely be wishing to stay updated with the contemporary trends in the cosmetic industry. Organic cosmetic products, anti-aging ingredients, ethnic products and cosmetics for men are deemed to be the driving trends in the cosmetic industry, as per the market survey conducted by Reportlinker. This same report cites factors such as an aging baby boomer population, a growth in immigrant populations, and the need to consume “natural” products, are all forces driving these trends. So as an enterprising businessman or business woman, what are some practices you can adopt to keep abreast of these trends. One can take note of the below mentioned tips which would largely help you in staying ahead of the competition:
1) Making use of natural and organic ingredients in cosmetic formulations
In the recent craze for natural products across the world, the same is also expected from cosmetic products. The natural or organic products are ideally comprised of those substances which have been derived from raw ingredients. Some of the ingredients found in natural and organic cosmetics are tea tree oil, shea butter, sunflower oil and cocoa butter. One would come across plenty of cosmetic formulations freely available in the market; however, it is advisable to make use of the one from a well reputed and established source. Natural and organic substances are a great trend to follow because they rarely have harmful side effects. All cosmetic products must contain the list of ingredients as well as the “best before date” .
2) Use anti-aging ingredients
As a clever business person, it helps to create your own anti-aging line of cosmetics. With more and more focus on skin care and protecting our skin from the sun’s harmful UV rays, anti-aging skin care is a must. Amino acids, alpha hydroxy acids, zinc and retinol are some of the ingredients found in anti-aging cosmetics. One must obtain these ingredients or products only from known sources, in order to avoid any risk of rashes or irritation. The bonus point with anti-aging ingredients is that with an aging population, many more people would be interested in exploring this range of products. One must conduct complete research in devising best recipes for anti-aging products.
3) Ethnic products
One must also produce those kinds of cosmetics which can be easily and without any inhibitions, applied by people from different skin colorations. Traditionally, one would come across beauty products formulated particularly for Caucasian skin types. People with Asian, Hispanic and African American skin types could not make use of these products. Therefore, as an entrepreneur, your focus should be on making beauty products applicable for all skin colorations. Who knows, you may even tap a market niche which is still unexplored.
4) Cosmetics for Men
All mean have skin care needs as well. Men need more than a plain shaving cream and lotion. Men today also require skin care which protects them from sun and also moisturizes their skin. A successful entrepreneur is, therefore, required to formulate skin products for men also.
The consistent annual increase in the cosmetic industry, it is an indication towards increasingly competitive scenario. If you are looking to enter the cosmetics industry, pay attention to the trends and try to incorporate them into your product line. This will help you establish a successful business.