Exploratory Analysis of Global Cosmetic Industry: Major Players, Technology and Market Trends

7428 WordsAug 13, 201530 Pages
Technovation 25 (2005) 1263–1272 www.elsevier.com/locate/technovation Exploratory analysis of global cosmetic industry: major players, technology and market trends Sameer Kumar* College of Business, University of St Thomas, Mail # TMH 343, 1000 LaSalle Avenue, Minneapolis, MN 55403-2005, USA Abstract Humans for time immemorial have used cosmetics, an industry dominated by a few major players. The study reviews main characteristics of this industry and also the key players in the world marketplace. Comparative financial and SWOT analyses provide an enhanced understanding of the industry. In addition to technology and innovations, current conditions and trends in the cosmetic industry are explored. The study also analyzes in depth the impacts of globalization on this industry. q 2004 Elsevier Ltd. All rights reserved. Keywords: Cosmetic industry; Toiletry industry; Cosmetic industry analysis; SWOT analysis; Cosmeceuticals; Globalization 1. Introduction Why study Perfume, Cosmetic and Toiletry industry? The answer is straightforward (Perfumes, Cosmetics, and Other Toilet Preparations, 2003). It is a significantly vital industry not necessarily in terms of its contribution to global GDP but by its striking influence on the colorful social lives of humans globally. The use of cosmetics, fragrances, and personal care products can be traced back to ancient times as early as Egyptian, Greek, and Roman eras. Here are some examples from history. Neanderthal man painted his face with reds, browns, and yellows derived from clay, mud, and arsenic. Bones were used to curl hair. Makeup, tattoos, and adornments conveyed necessary social information. Galen, an ancient Greek physician, invented cold cream. The Romans used oil-based perfumes on their bodies, in their baths and fountains, and applied them to their weapons. Crusaders of the 13th century
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