Over the years to come, the cosmetics and personal care
industry is predicted to record gains across the board, with particularly
strong growth expected for sun protection and anti-aging products as consumers
become increasingly aware of the dangers of sun exposure and more concerned
with preserving a youthful appearance. Emerging nations represent huge
potential for international companies, offering better quality products than
locally produced goods to populations with rising income levels. Multinational
companies have begun establishing a strong foothold in countries such as Russia,
India and China.
Rising income means that consumers are more concerned with product
effectiveness and ingredients used than cheap products. Manufacturers are
therefore focused on advertising their products as superior to those of rival
companies, rather than systematically seeking to undercut market prices.
Distribution channels are changing in that cosmetic brands are available not
only in retail outlets like department stores, but also through internet
purchasing, television infomercials, home shopping, airport vending machines
and in spas.
Generally, drugs must either receive premarket
approval by FDA or conform to final regulations specifying conditions whereby
they are generally recognized as safe and effective, and not misbranded.
Cosmetic products and ingredients are not subject to FDA premarket approval
authority, with the exception of color additives. Cosmetic firms are
responsible for substantiating the safety of their products and ingredients
before marketing. For more details visit
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