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Local Ingredients, Reformulation Drive Growth in Naturals
Posted: November 23, 2010
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Belief in the medicinal properties of ayurvedic formulations is said to drive natural personal care growth in India, where truly natural products account for about one-third of the total market in India. Competition is high in India, according to the report, which finds that domestic brands in India often offer consumers lower pricing.
The Russian natural personal care market has grown more than the country’s overall economy over the last two years. Driving the growth is direct sales, and the report finds that the Russian natural cosmetics market hold potential for growth.
Truly natural products have also grown in the in the US personal care market, gaining nearly 20% over the past year, while natural-inspired products grew just over 4%. This growth is due to the reformulation of existing products to be more natural in addition to the expansion of truly natural personal care product lines by major players.
When tasked with creating a natural personal care product for a specific market, the formulator should be aware of what is driving the demand that country or region. This may influence whether they use local ingredients, reformulate an existing product, or create a natural-inspired product versus a truly natural product; however, the consensus is that the need for natural is there and that the trend will continue to grow.
For more more information about business and market trends, visit our sister publication, Global Cosmetic Industry (GCI) magazine.