Advances in Material Technologies for Personal Care, a part of Frost & Sullivan's TechVision (Materials & Coatings) Growth Partnership Service programme, finds that large chemical corporates are already trying to improve the sustainability of their products. For instance, in April 2016, BASF presented its new products in line with its motto, "All about tomorrow," to promote green chemistry in personal care products.
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The voice of the customer is the biggest influencer of the personal care industry and this compels material manufacturers to invest significantly in research and development (R&D). Additionally, the industry is beset by the lack of uniform legislation, which challenges global handling; for example, while the Chinese market requires animal testing, the European and U.S. markets forbid it.
"The U.S. is currently leading the personal care industry in terms of market participation and the number of patents obtained," noted Serafin. "The strongest market adoption and innovations will be from Asia, especially Japan and South Korea. The highly developed online sales channel is further aiding the expansion of Asian cosmetics into the European and U.S. markets, connecting consumers directly with producers."
Frost & Sullivan's global TechVision practice is focused on innovation, disruption and convergence, and provides a variety of technology-based alerts, newsletters and research services as well as growth consulting services. Its premier offering, the TechVision programme, identifies and evaluates the most valuable emerging and disruptive technologies enabling products with near-term potential. A unique feature of the TechVision programme is an annual selection of 50 technologies that can generate convergence scenarios, possibly disrupt the innovation landscape, and drive transformational growth. View a summary of our TechVision program by clicking on the following link: http://ifrost.frost.com/TechVision_Demo.
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Advances in Material Technologies for Personal Care
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SOURCE Frost & Sullivan