Recent Trends and Existing Rivalry in Cosmetics Industry

0 Comment

At present, there are several companies operating in this sector. Many of them have their operations almost all over the globe and can be called true multinational companies. These companies offer a vast range of product that caters to the different requirements of women. However, cosmetic is a domain that is not strictly restricted to women. the metrosexual men are equally concerned with their looks. As compared to the women, the cosmetic products for men are now showing a stupendous growth. This is a major turning point in the cosmetic industry. With time, many such innovative changes will take place in the international cosmetic industry. Therefore, to analyse the development, recent trends and existing rivalry in this industry, research has been conducted. This will be exploratory research where data will be collected and analysed to understand the performance of the industry. The analysis will also be conducted to find out the degree of competitiveness in this cosmetic industry. Before conducting the research, literature related to this topic will be reviewed. After getting a thorough understanding of the topic, the research methodology will be planned, following which the research will be done. Later on, by analysing the finding, the result will be concluded. It is true that while conducting the research, the focus is always on the users who are going to utilise this report. Therefore, the discussion will also be done to specify how this research will change with change in users.The cosmetic industry gained commercial existence in early 1914 in US and UK in a period that is commonly known as Drug and Cosmetic Industry (Kremers amp. Sonnedecker, 1986, p.438). Companies started manufacturing products such as shaving creams, soaps, oils and lotions.The above table shows that in early 1914, the majority of the cosmetic industries were operating from the US and France. With time, the cosmetic industry started mushrooming in other European nations.