The report, titled Green Cosmetics: Eco-Friendly Products and Key Ingredients, highlights how continued growth in this category should put the global market for natural cosmetics at a value of $54.5 billion by 2027.
But despite the continued rise of this industry category, ‘fluffy’ marketing terms, claims that are hard to substantiate and the use of terminology that consumers simply don’t understand means that connecting with consumers has to be carefully thought out and very clear.
Getting eco-friendly right
The ultimate goal of natural beauty and personal care is to provide consumers with products that are greener, safer and better for the environment, but all of that criteria is easier said than done.
“The overlapping demand for both personalized and eco-friendly cosmetics is creating an opportunity for providing consumers with safer and better products while decreasing waste and the toll cosmetics production can have on the environment,” said Dr. Daniel Morales, Technical Director of PreScouter’s Consumer Packaged Goods practice.
However, Dr. Morales, also stresses that another big challenge is navigating the various forms of eco-friendly products and ingredients that are being marketed.
What’s in the report
The comprehensive report highlights how emerging and existing brands are telling the story about eco-friendly ingredients and formulations and where the best opportunities are to exist in this space and how future trends are likely to pan out.
A total of 14 products from 14 different companies are detailed in the report, covering seven specific eco-friendly categories: naturally sources, organic, vegan, cruelty-free, biobased, biodegradable and fair trade ingredients.
The report highlights how this space is currently being dominated by companies that are using vegan and/or cruelty free claims to promote their products, as well as avoiding parabens, synthetic surfactants, sulfates, drying alcohols or silicones.
“Companies can increase their market share while promoting a more loyal customer base by understanding the differences between various eco-friendly ingredients, such as biodegradable and biobased ingredients, in addition to the standards used to validate such claims,” said Dr. Morales.