As a beauty products distributor, manufacturer or other related business owner, you work in an industry experiencing continued growth/expansion throughout the country and overseas. The personal care product industry boasts roughly 750 companies that produce a combined annual revenue of more than $40 billion. The 50 largest companies generate almost 70% of the entire revenue. Still, the market will bear competition from small companies that can offer a specialized product or cater to a particular niche market.
Industry leaders include companies like Kimberly-Clark, Johnson & Johnson, Estee Lauder, Alberto-Culver, Avon, Colgate-Palmolive, L’Oreal, Parlux Fragrances, Proctor & Gamble and Revlon. Companies within the industry formulate, manufacture, market and sells a huge array of beauty and personal care products:
1. Makeup, deodorant and nail products comprise 33% of health and beauty care industry revenue.
2. Hair care products generate 25% of personal care product revenue, while and creams/lotions create 21%.
3. Perfumes, mouthwashes, shaving preparations and other products make up the remaining revenue for beauty skin care product revenues.
Get more information on government regulations concerning beauty skin care products
Considered by many as one of the most unregulated industries, the cosmetics industry’s products don’t require FDA approval before going to market, with the exception of color additives. The FDA classifies cosmetics but doesn’t regulate them, and many personal care products never undergo safety testing. The burden of validation falls to the companies themselves, who don’t always accomplish the task.
FDA authority over cosmetics and find links to the Federal Food, Drug and Cosmetic Act and the Fair Packaging and Labeling Act at the FDA website. Also visit the FDA website to examine Title 21, Code of Federal Regulations Cosmetic Products.
Join professional associations for the health and beauty skin care products industry
Within the industry, you’ll run across several associations you may find beneficial to join. Not only will they provide valuable information on industry news, technology, trends and events, they present priceless opportunities for professional growth and networking.
Learn about different roles of manufacturing in the health and beauty care industry
Industry manufacturers prepare, blend, compound and package products. Beauty and personal care products don’t always come to fruition by a manufacturer alone. It often takes a concerted effort from outside companies with compatible technology to improve the way a product works. Other companies handle all aspects of manufacturing, formulating, logistics and packaging for companies that want to outsource any segment of their beauty and health care product business.
- As part of a beauty and personal care products industry overview, remember that the beauty care products industry remains one focused on and obsessed with quality-of-life enhancing products. Additionally, men represent a growing market for personal care and cosmetics. To ensure success, align yourself with companies that keep their fingers on the pulse of current trends and technological developments.