A Cosmetics Market Client Enhanced Profit Margins by 33% Using Market Monitoring Solution
Natural Cosmetics Market Overview The global market for natural cosmetics products is expected to witness stable growth over the coming years owing to increasing demand for beauty products and rising awareness about environment-friendly products. Also, increasing market demand for natural cosmetic products among millennials and rising R&D expenditures are likely to propel the natural cosmetics […]
Natural Cosmetics Market Overview
The global market for natural cosmetics products is expected to witness stable growth over the coming years owing to increasing demand for beauty products and rising awareness about environment-friendly products. Also, increasing market demand for natural cosmetic products among millennials and rising R&D expenditures are likely to propel the natural cosmetics market growth. Despite the future looking promising for companies in the natural cosmetics market, the industry still faces challenges such as rising demand for transparency, packaging constraints, and regulatory hurdles. As such, companies in the natural cosmetics market will need to focus on designing a strong brand product that will carve a niche position and remain competitive in the mainstream product lines.
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A Global 500 cosmetic products manufacturer, based out of Sweden, wanted to focus on expanding their operations to the United States, devising natural cosmetics products, and carving a niche position in the market. Moreover, they wanted to redesign their existing products to appeal to the growing population that demanded environmental-friendly products. To do so, they wanted to gather comprehensive insights into the market needs and combat challenges coming their way. They chose to partner with Infiniti Research to leverage their expertise in offering market monitoring analysis.
By leveraging Infiniti’s market monitoring analysis, the natural cosmetics market client also wanted to address challenges including:
Regulatory issues – As FFDCA (Federal Food, Drug, and Cosmetic Act) seized custody of major natural cosmetics products intended for import to the US, based on adulteration as well as for misbranding, the client did not wish to take a chance. They wanted to understand the regulatory hurdles in the US natural cosmetics market and take approaches to tackle them.
Packaging hurdles – As packaging waste was becoming a major sustainability concern for the natural cosmetics market, the client wanted to undertake sustainable packaging alternatives and reduce packaging impacts.
Microbead ban – Owing to the microbead ban in the USA, the client wanted to completely focus on developing natural cosmetics products and adopting innovative marketing approaches to promote them.
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Our Integrated Approach
To help the client tackle the above-mentioned challenges and gain a leading edge in the natural cosmetics market, the experts at Infiniti Research used a combination of qualitative and quantitative research. This research involved gathering detailed insights into the US natural cosmetics market size, identifying the latest R&Ds, analyzing key competitors, and understanding customers’ evolving requirements regarding cosmetics products.
By conducting a market segmentation study, the experts recommended the client to focus on the millennial groups in the US to promote their new products. Also, by conducting a product segmentation analysis, the experts helped the client to understand the needs and requirements of customers regarding cosmetic products.
By leveraging Infiniti’s market monitoring analysis, the experts helped the client to understand key market penetration success factors that can maximize potential sales. The experts also provided market entry options to the natural cosmetics market client through registration type, channel preference, business model pricing strategy, and key partners. In addition, the experts helped the client to uncover regulatory issues and FFDCA policies that may serve as a potential challenge. Also, we provided the client with the support required for launching a new product and establishing operations in the US natural cosmetics market. Infiniti’s market identification engagement also involved the creation and mapping of the client’s opportunity from an R&D and competitive perspective.
The experts helped the client to gather a comprehensive overview of the US natural cosmetics market. Also, the client was able to analyze the industry with respect to market metrics and forecast its growth. The experts provided the client with comprehensive insights into the regulatory and competitive environment in the US natural cosmetics market. This helped the client to take necessary approaches to tackle regulatory challenges and comply with FFDCA policies. The experts also provided the client with best-fit opportunity growth pipeline and go-to-market recommendations.
Additionally, the experts helped the client to map packaging trends in the US natural cosmetics market. This helped them to innovate their packaging alternatives and adopt sustainable packaging solutions. Based on in-depth knowledge of industry practices, the experts provided the client with recommendations on alternatives to microbeads, accompanied by strategic recommendations for market entry success.
Within three years of leveraging our market identification solution, the client was able to carve a niche position in the US natural cosmetics market and enhance profit margins by 33%. Also, by redesigning their existing products to environment-friendly cosmetic products, they were able to sustain a leading edge in the existing market.
Want to know more about our services for companies in the natural cosmetics market? Request more info and our experts will get in touch with you with detailed insights.