The skincare market is competitive by nature, and there is an increasingly wide range of products targeting different sectors and use cases, so finding your edge and taking it step by step is super important. While it might not be easy to get a foothold in the skincare market, there is still a major opportunity.
By offering the right products incorporating the right ingredients to meet consumer demand at the right price, you can stand out from other brands and suppliers and grow a sustainable business. Focus on creating your product with effective and efficient manufacturing and distribution operations, as well as strategic ingredients and a sustainable production model.
Here are our tips for successfully entering the skincare market in 2019.
Understand where there is a growing demand
To enter the skincare market, you need to manufacture a product that consumers want. Look at trends in the market and where the growth opportunities lie, and choose products to take advantage of these trends.
Take organic skincare as an example. The global organic personal care market size is projected to reach $25.11 billion by 2025, which is a CAGR of 9.5%.
Foot care products are also set for significant growth over the coming years, with the market expected to exceed more than US$ 3.50 Billion by 2024 at a CAGR of 8.7%.
Also, remember to innovate and focus on making your brand stand out in your competitive landscape. For example, incorporate new or different ingredients, production methods, or packaging details.
Focus on ingredients and sustainability
While in many places it’s a legal requirement to specify ingredients on a product, there are different ways of doing so.
If you want to successfully enter the skincare market, go beyond a mere list of items that often means nothing to consumers. Explain the origins of your ingredients; specify where they have been extracted from and what their historical and current uses are.
As sustainability is becoming increasingly important to today’s consumers, provide details that trace the product’s ingredients back to its routes, as well as providing information on your production process.
Making sure your brand aligns with consumers’ lifestyles and beliefs will add value and give you an edge over your competitors.
Consider private label manufacturing
If you want to enter the skincare market with products that meet consumer demands in terms of ingredients, packaging, and price point, consider working with a private label skincare company. These companies can help you conceptualize and manufacture high-quality and cost-effective products that take advantage of the latest innovations in the industry.
A private label company will also be able to manufacture products in a sustainable way with full traceability. They may even be able to assist you with designing and printing smart, stylish packaging, and distribute your products globally.
By engaging a private label company to handle all aspects of the process, from design to manufacturing to distribution, you can rest assured that you will be able to provide the kind of product that will delight savvy customers and make your entry into the skincare market as successful as can be.
Ready for more information about the skincare market?
Want to know more about how to enter the skincare market and develop your private label product? Check out the new guide from Schwartz Natural Cosmetics - we've compiled the latest market insights and business tips for entrepreneurs in the skin and hair care industry. Download your free copy of the Ultimate Business Guide to Private Label Skin and Hair Care in 2019 and learn about how you can build your own customized product.
This blog post is for educational purposes only.