In light of this, increasing acceptance of organic and herbal-based cosmetic products will drive the cosmetics industry in the near future, RNCOS identified in its latest monitory report entitled ‘Cosmetics Trends’.
The natural movement has been characterized by the emergence and mainstreaming of ingredients such as aloe vera and jojoba oil, as well as approaches such as herbal, botanical, "green" and organic. Consumers have become more knowledgeable and well travelled, and this in turn has increased demand for these products.
Growing ‘herbal’ market trend
In addition, a new concept of ‘Herbal Medicine’ is paving its way to the skin care industry, according to the RNCOS report. It says personal care companies are globally exploring the markets to tap into the growth potential of this segment.
Regulatory bodies are also ensuring that consumers have full knowledge about the ingredients of products and thus focusing on labeling.
For instance, The Food and Drug Administration (FDA) plans to issue the first new regulations for sunscreen in October 2010.
The proposed changes, may implement new testing and labeling practices to clear up the confusion over the reliability of the sun protection factor (SPF), and whether products actually do what they advertise.
Other findings of the report
The industry intelligence organization also researched how nano particles are increasingly being used nowadays, especially in the sun care and anti-aging segments, to enhance cosmetics products quality and efficiency.
An increasing number of companies are manufacturing products containing nano particles, which has urged regulatory bodies to develop new regulations to address the growth of nanotechnology in cosmetics.
This has lead to those in the personal care industry and some independent research institutes carrying out research in this field to come up with new results and applications.
The report has also evaluates the emerging male grooming segment as more and more men are becoming concerned about their looks and appearances.
According to RNCOS, the cosmetic industry is utilizing this paradigm shift and launching new products exclusively for men. As a result, the global male skin care market which was only worth about $193m in 2009 is now growing at a substantial rate of about 16 per cent annually.