The skincare cosmetic sector is a huge global industry with a long list of popular and local product brands. In attempt to make their products appeal more to consumer, many manufacturers seek unregulated or inexpensive ways to produce and sell to the target market. A sneak-peek into the cosmetic skincare industry is vital in other to understand why corporations risk unethical conducts to increase profit, mostly to the detriment of consumers’ beauty product.
The cosmetic skincare market size was valued at €130 billion in 2016. The market is dominated by key multinational corporations including big brands like Olay, Avon, L’Oréal and a handful of others providing a vast array of over-the-counter products in the beauty and skincare industry. The market focuses mainly on a combination of OTC and prescription products, which treat acne, psoriasis, alopecia, skin infections, skin cancer, rosacea, and atopic dermatitis.
With the US being the largest market for skincare cosmetics, it is forecasted to be the leading market through 2028, growing its market value from $12.3 billion in 2018 to $22.6 billion in 2028. As a subset, the Shea Butter market was valued at $700 million in 2018, promising a double-digit increase in value by 2028.
The market value tells the story as many brands hustle to gain more market share. In economics, demand often expands and creates new markets. However, in the beauty and skincare industry, meeting consumers specific needs or keeping high advertising promises, has pushed manufacturers into using questionable toxins to increase the effectiveness of lotions, oil, cream, spray, gel, powder, and soap.
Product ingredients such as Triphenyl Phosphate (TPHP), Petroleum, Propyl Paraben, Fragrance, Hydroquinone, Phthalates, Phenylenediamine, Avobenzone, Oxybenzone, and Formaldehyde, used in formulating skin moisturizers, perfumes, lipsticks, fingernail polishes, eye/ facial makeup, cleansing shampoos, permanent waves, hair colors; are chemicals that are worth researching to determine their compositions in a product, which in excess may be harmful to end-users.
Regular exposure (by usage) to some of these chemicals in beauty products have caused unimaginable harm to unsuspecting consumers, and brands (such as Sivoclair Lightening Body Lotion) who disregarded recommended production standards to pursue profits have been banned from being sold to consumers.
Therefore, in making the case to maintain sensible trade for manufacturers and safe product for consumers, Shea Butter remains the knight in shining amour in the skincare industry. Today, most manufacturers are known to use the properties of Shea Butter as base for their product lines; they do this to inspire consumers’ confidence in their brand.
Shea Butter supplement is regularly projected as the unique-selling-proposition in adverts, mostly to put consumers on notice that “our product is toxin-free.” As good as it may sound, users need to do more to research and be better informed before deciding to use any skincare brand.
Purchasing products with buzzwords words such as “Natural”, “Organic”, “Green” “Toxin-free” or “Shea Butter”, must be done with due diligence. The well-being of every consumer matters, therefore, beyond regulations that monitors the conduct of cosmetic manufacturers; personal inquiry by consumers can prevent unplanned medical grief, and give many the desired peace of mind.
