GEW Malaysia 2020: The Beauty Industry - Is It A Resilient Sector?

Beauty may be in the eye of the beholder, but there is little debate when it comes to the long-term attractiveness of the global beauty industry. Not only has it grown steadily, it has created generations of loyal consumers. The market has successfully proven its ability to accomplish strong and continuous growth, as well as its capacity to be resilient even when the economic climate has been unfavourable.

While most people think of the beauty business as cosmetics, it has grown in scope and now covers a wide range of products. Beyond just cosmetics there is perfume, skin cleaners, a host of other skin care products, cosmeceuticals, etc. Beyond the products themselves, the beauty business also includes the way in which the products are sold. Combined, these segments form an industry that continues to grow, evolve and doesn’t show any signs of slowing down.

Despite the future looking promising for the cosmetics and personal care sector, the industry still faces challenges and obstacles that it must overcome. Some of the most important sustainability challenges include eco-friendly packaging, green formulations, transparency and traceability, climate change, greenwashing, social impacts and water management.