News & Analysis on Cosmetics Innovation
Brands and manufacturers are constantly innovating packaging as they look to engage consumers and build brand loyalty, and this is seeing six key trends influence the sector, according to market research firm Mintel.
Thanks to Chinese consumers growing obsession with K-beauty, Korean cosmetic players like luxury skin care line, Sulwhasoo are seeing a solid increase in sales.
According to recent research by Assocham, with thanks to high internet penetration across tier-II and tier-III cities, luxury consumption is expected to grow by 30-35 per cent over the next three years.
In recent years, China's FDA has made a habit of announcing the implementation of new or updated cosmetics regulations each January in its efforts to fall in line with international practices.