"The cosmetics or beauty products industry is one sector which remains impervious to the ups and downs [of] markets." - Mordor Intelligence
Though this could describe the Cosmetics Industry in general, this particular piece of analysis refers to Australia's growing and changing market. In 2015, the size of the Australian cosmetics market was close to US $5 billion and is expected to approach US $8 billion by 2020.
Regardless of how strong or slow the country's economy is at any given moment, cosmetics - particularly skin care products - will always be an important part of Australian life; and now, more budget-friendly cosmetics manufacturers are able to reach a larger swathe of the Australian population, primarily through internet marketing.
However, Australia still depends heavily on imported cosmetics from foreign countries - about 70% of its cosmetics and personal care products come from abroad, and about 22%, from the United States.
Australia, like the rest of the world, is waking up to the idea that "natural", "organic", "eco-friendly", and even "artisanal" labels are not just buzzwords used by companies to markup the price and feel good afterward. On the contrary, these are part of the new global buying ethos, which seeks to align purchasing power with personal beliefs.
There is also a growing demand for “ethnic” products, where the production and marketing model is more DIY and has a stronger appeal to a younger generation, which is less loyal to the giant brands of the past.
Social media has been a giant force in introducing masstige cosmetics to the mainstream. They have not only caught on in popularity but actually taken over as a sensible alternative to luxury - and luxury-priced - brands, as well as to the less effective drugstore brands. The numbers, as seen in this infographic, clearly reflect the appeal of masstige cosmetics to every class.
Australia's regulation model requires less preliminary registration work compared to such markets as Canada and the EU. For instance, before marketing your product, you are not required to submit it to a government agency for safety testing.
However, a set of requirements still applies, and it is important to have a clear understanding of what's required of your manufacturing or importing company before you market your product. For example:
Before starting up the belt on your product, protect your brand from regulatory violations and consumer health and safety issues by contacting a certified Testing Lab and Inspection Service. Your chosen provider must meet the following criteria:
At AI, we meet all of these requirements, and more! Additionally, through our Quality Assurance program, we can assist you during your product development process by giving your plans the framework you need to meet market regulations and, just as importantly, yours and your customers' standards.
Once a product development plan is implemented, we can assist you straight from the factory floor with product inspections to make sure your specifications are being followed to the letter.
The Australian market is ready for your innovative cosmetics and your commitment to quality ingredients and manufacturing. Let us help you enter that market with confidence and become the new favorite among its consumers!
Our online platform and mobile application make it easy for you to schedule Cosmetics and Beauty Product lab tests and inspections and receive your results at any time. Book new tests, view pending orders, and access results from your mobile device. Our online platform provides valuable supply chain insights, including a summary of your QC activity, all of your supplier’s quality stats, industry benchmarking data, and more.
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