(I-BusinessNews.Com, October 15, 2018 ) Customers are in favor of products with natural ingredients. There is an increase in demand for safe, natural and organic products. Customers are avoiding products with harmful substances like aluminium compounds which may cause cancer. Manufacturers are now offering more products which contain natural ingredients such as vitamin E, aloe vera and chamomile.
THE BUSINESS RESEARCH COMPANY EXPECTS THE TOILETRIES GLOBAL MARKET TO GROW TO $391 BILLION BY 2021
Asia Pacific was the largest region in the toiletries market in 2017, accounting for more than one third of the market share.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, the demand for multi-benefit combinations has been increasing rapidly. Products such as foundations with anti-aging serums, nail polish with UV protection and anti-aging claims are introduced into the market. Multi-benefit solutions are expected to continue to penetrate further into different categories such as hair care with anti-ageing or fragrance to lipsticks with lip care and so on.
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Reckitt Benckiser Group Plc was the largest company in the toiletries industry with revenues of $13.5 billion in 2016. Reckitt Benckiser Group’s growth strategy is to invest in more profitable consumer health and pharmaceutical products over traditional household goods.
The toiletries industry includes companies involved in preparing, blending, compounding and packaging toiletries. The products that are classified as toiletries include perfumes, shaving preparations, hair preparations, face creams, lotions, sunscreens and other cosmetics. These products are used for cleansing, beautifying, and improving attractiveness and appearance of the human body. For instance, face creams and lotions are used for protection from dust and sunlight, cosmetics are used for beautification, and perfumes and deodorants are used to prevent bad odours.
Synthetic chemicals, as well as natural ingredients, are used in the manufacturing of toiletries products. Regulatory authorities and government agencies, such as Food and Drug Administration (FDA) in the USA, specify guidelines to be followed to ensure product safety. These authorities list specific ingredients that are prohibited or restricted from being used in the toiletries of cosmetics.
Toiletries Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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