Write a 9 pages paper on recent trends in the cosmetic industry. With the help of this data, significant conclusions and interpretations have been tried to make. These conclusions can help in future p
Write a 9 pages paper on recent trends in the cosmetic industry. With the help of this data, significant conclusions and interpretations have been tried to make. These conclusions can help in future planning and strategies for profitable business. This section is divided into two parts:
This report is an effort to analyze the recent trends of development and competitive rivalry in the industry in the current economic climate. The reports start with an introduction to the global cosmetic industry. The data collection and analysis methodologies are explained next.
The report analyze and explain the data gathered through secondary resources about global cosmetic industry in term of geographic dispersion and then the special emphasis is given to the United Kingdom’s cosmetic industry. The general trends of the UK cosmetic industry are explained and the profitability of the market is analyzed.
The cosmetic industry is one of those industries which have shown growth in recent years. The term cosmetic by enlarge is used for products used for personal care. Some of which are skincare, haircare, hygiene products, etc.
Apart from the United States, some of the other countries which are famous for their cosmetic industry are Italy, France, Japan, and Germany. These are some of the countries with the top of the league cosmetic industries. The top in the list is the United States followed by Japan (Inness, 2003).
According to the German business portal website Germany cosmetic industry with sales of EUR 12.8 billion in 2009, it is at third rank after Japan and the USA. The exports were EUR 4.8 billion and imports of cosmetic related products were EUR 2.862 billion, the major importers of cosmetic products are France, the USA, Switzerland, and Italy (Cosmetics Industry, n.d.).
The cosmetic industry is profitable, productive, and innovative. It’s growing at a very fast pace and if one has to survive then constant innovations should be made as the reason behind the success is product innovation (Kumar, 2006).