Personal Care and Cosmetics

Cosmetic and Personal Care industry highlights

The Cosmetic and Personal Care Product Manufacturing industry has posted strong growth over the past decade. The revenue of the U.S. cosmetic industry is estimated to amount to about $62.46 billion in 2016 and more than 11 billion personal care products are sold each year in the U.S. China has become one of the largest cosmetics markets in the world and ranks first in Asia. Industry revenue has been growing at an annualized rate of 12.2% in the five years through 2015, to an estimated $19.9 billion. Over the next five years, industry revenue is forecast to grow 3.4% annually, to total $23.6 billion in 2020.

Cosmetics development growth in organic products is also noticeable. The global market for organic personal care products should grow to be worth approximately $15.98 billion by 2020, reflecting annual growth rates of between 9% and 10% across Europe, North America and the Asia Pacific regions.

Key factors in Cosmetics development

Cosmetics development even complex and driven by trends, is supported by  an effective NPD process. Time to market, collaboration, product information and product traceability are key success factors to optimize in cosmetics development.

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billion
personal care products sold each year in the U.S.
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billion
Chinese industry revenue
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to10 %
annual growth rate across Europe, North America and Asia

Personal care and cosmetics challenges

Personal care companies face a myriad of challenges. To lead competition, personal care and cosmetics professionals have to be extremely aware of new trends and boost their cosmetics development and  innovation processes.

Cosmetics industry is also facing extreme regulatory compliance expectances. Local and global regulations are stricter than ever and time and means to comply with new regulations are not easily accessible.

Short product lifecycles, fast-evolving trends, patent-protected applications, formidable competition for market share, new technology evolutions and high costs for complex chemistries and scientifically based innovations are other challenges to handle when in personal care products management.

The ability to succeed depends on new product innovation, effective formulation and testing new attributes to differentiate products in a crowded marketplace. Cosmetics product management from design to launch as well as cosmetics development are key in the industry. It is then essential to benefit from a robust personal care product management.

On this competitive and dynamic sector, personal care companies have to:

  • Release new and innovative products to build market shares
  • Optimize formula and packaging to minimize costs in cosmetics development
  • Comply with multiple regulatory environments to open new markets
  • Automate generation of ingredients statements to improve personal care products development
  • Streamline supplier collaboration to reduce time to market in personal care products management

Lascom solution for personal care product management

Lascom provides a PLM solution to assist Personal care and cosmetics business with their issues. Through the platform use, companies are able to:

  • Offer new products and improve market shares
  • Better manage their products portfolio and dematerialize technical files and add workflow to ameliorate updates
  • Optimize product formulation and automatically generate ingredients statement, allergens and claims
  • Improve packaging development processes through a better collaboration with agencies and an efficient artwork assistant
  • Be in compliance with local and global regulations and ensure product traceability

Benefits for personal care and cosmetics industries

Success Stories

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  • Bolthouse Farms
  • Maple Lodge
  • Poultry leader
  • Artenay Bars
  • Yoplait
  • LACTALIS