Major trends of the world cosmetics market in the future
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The rapid growth of anti-aging cosmetics
The spread of scientific evidenceism
Accelerating global competition in cosmetics market
Third, export opportunities for cosmetics expand and competition is globalized. The mutual influence between the economic activities of each country will increase due to the continuous increase in the number of countries that signed FTAs around the world, the connection of international financial markets, and the revitalization of production networks of multinational companies. In addition, competition among global conglomerates will intensify, and companies that do not have competitiveness will be turned away from consumers.
Growth of natural and bio-based cosmetics
Fourth, the growth of the natural and bio-material cosmetics market due to climate change and environmental problems. Awareness of the development and consumption of eco-friendly products is spreading around the world due to the increase in global warming and abnormal climate phenomena, the destruction of the ecosystem due to environmental pollution and the increase in harmfulness to the human body. Kline & Company predicted that the global market for natural cosmetics, including organic cosmetics, would grow at an average annual rate of 9.2%. As consumers' level of product selection increases, the market for cosmetic materials made by applying biotechnology or materials derived from plants, microorganisms, animals, and these cells with enhanced skin bioactivity is expected to show rapid growth.
Activation of eco-friendly certified cosmetics
Fifth, the activation of the eco-friendly certification system are expected to be strengthened with the strengthening of international regulations, related research (development of alternative experimental methods, etc.) The Nagoya Protocol, adopted in Nagoya, Japan in October 2010, stipulates methods such as monetary payment or participation in joint research for benefits from the use and access to genetic resources such as animals, plants, and microorganisms related to the development of pharmaceuticals, cosmetics, and food. In addition, as the regulation on animal testing is being strengthened, research on alternative testing methods will be activated due to the regulation of animal testing, and research progress using these methods is expected to increase. In addition, it is expected that the certified cosmetics market showing natural compatibility is expected to expand as the introduction of organic cosmetics certification system is increasing mainly in developed countries.
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