According to data gathered from reputed sources, global beauty is growing at an astronomical pace. The cumulative valuation of the industry stands at $532 Billion in 2019. With the CAGR hovering around the 5% mark, the industry shows no signs of slowing down.
Many feel that the beauty industry is homogeneous in nature. However, there are several smaller niches and segments, which make the industry-
- Personal Care
All these major categories together make up the beauty and cosmetic industry. Major brands produce products covering all the segments, while smaller brands concentrate on any one segment.
In this article, we discuss the environmental and sustainable issues in the industry by talking to Amanda Jo of Organic Bunny. She is a leading advocate of using natural and organic products and promotes ethical and responsible beauty brands.
Why Sustainability Issues are Emerging in the Beauty Industry?
According to Amanda Jo, the increased consumer awareness is the single biggest reason for the discussions around sustainability and environmental impact. Access to information, consciousness, and overall awareness has made consumers question brands.
They want to know which products they are using on their bodies daily. In addition, they are critical of brands that are still using innocent animals for product testing in underdeveloped countries.
It would be safe to state that with global warming and climate change threatening human existence, people are very serious about such issues. Social media pages, YouTube channels, and the advocacy of non-governmental groups have pushed the debate to this point.
Apart from the ingredients being used in the products, users are also conscious of different things. For example, whether plastic is being used unnecessarily in the packaging, or the extra paper is being wasted.
Cleaner, Greener and More Sustainable Brands are emerging
In the past few years, there are several new brands, which have taken sustainability in a serious fashion. They have evolved product lines, which do not contain chemicals like parabens, toxins, sulfates, or any other harmful chemicals, which can lead to serious illnesses.
Just like their product, they have also been able to successfully use and promote eco-friendly packaging to ensure that the environmental impact is limited. Many brands are also engaging with productive CSR activities to combat deforestation, pollution, and other evils.
According to Amanda Jo, smaller greener brands are emerging as a direct threat to bigger and more established ones, who continue to use heavy doses of chemicals in their products.
Millennials based on access to information and increased spending power are emerging as patrons of green brands. They are taking to social media to call out brands, who are engaging in activities, which are detrimental to the environment.
Where do Governments and Law Makers stand on Sustainability Issues?
In many countries all over the world, small steps are being taken in favor of consumer interests. For starters, there is a clarion call to ban harmful chemicals and toxins in beauty and skincare products. However, it should also be pointed out that behemoths in the industry have used their influence and power to prevent drastic legislation from hampering their interests.
On the positive side, there have been several countries like the USA, UK, and others, which have banned microbeads. You might remember small globules in face washes and scrubs, which you used sometime back.
Environmentally, they are disastrous as they do not break down and cause serious threats to marine life. Microbeads were plastic and were found in hundreds of products across brands. Governments and authorities including the FDA in the United States are pushing for greater transparency and regulations, especially in the area of advertising and marketing for brands.
The Bottom Line
With consumers becoming more aware and hurting brands economically, the path towards sustainability shows some promise. It is true that we still have a long way to go as far as the beauty industry fulfilling environmental promises go. Nevertheless, a progressive and sustainable step has been taken in the right direction.
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