The cosmetics industry is a competitive and resilient one. Cosmetics use globally has grown significantly in recent years due at least in part to changing lifestyles and a growth in awareness of outer beauty’s potential to reflect inner wellness. These changes have necessitated investments in research and development as well as the adoption of innovative marketing strategies to maintain and increase margins in a rapidly evolving market.
The COVID-19 pandemic also impacted the beauty and cosmetic market, given the realities of social distancing, working from home and constant mask-wearing. As consumers adapt to this new normal, brands had to rethink and readapt in order to keep market share. These trends have resulted in an increased need for fast product development.
METTLER TOLEDO conducted an online survey to learn and understand how these and other cosmetic trends including increased consumer desire for ingredients transparency have impacted cosmetic industry laboratories during this transformative time. A majority of respondents work within the cosmetics industry in areas such as sales, marketing and development.
This article presents the results and provides expert commentary on how laboratories can help their organizations keep up with these trends and remain competitive. It includes:
- An overview of the current cosmetics industry
- The challenges and effects COVID-19 has had on the cosmetics industry
- Trends that are shaping the future within this industry
- Moisture Analyzer and weighing instrument innovations from METTLER TOLEDO that can help companies meet the demands of these trends
