BUSINESS INFORM JOURNAL.

УКР

ENG

Search:

REGISTRATION CERTIFICATE

KV #19905-9705 PR dated 02.04.2013.

FOUNDERS

RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE)

According to the decision No. 802 of the National Council of Television and Radio Broadcasting of Ukraine dated 14.03.2024, is registered as a subject in the field of print media.
ID R30-03156

PUBLISHER

Liburkina L. M.

SITE SECTIONS

Trends in the Global and Ukrainian Markets of Cosmetics Products
Sviderska S. Y., Kukhta P. V.

Sviderska, Svitlana Ye., and Kukhta, Pavlo V. (2023) “Trends in the Global and Ukrainian Markets of Cosmetics Products.” Business Inform 9:311–318.
https://doi.org/10.32983/2222-4459-2023-9-311-318

Section: Management and Marketing

Article is written in English
Downloads/views: 0

Download article (pdf) -

UDC 338.1:665.5

Abstract:
The article aims at disclosing and summarizing the current trends in the development of cosmetics products markets, determining their volumes, dynamics and potential; analyzing the impact of global market conditions on the reactions of domestic players to crisis conditions. The research is relevant due to the peculiarities of the current conditions of development of the Ukrainian cosmetics products market. It is currently undergoing transformation due to government regulation affecting one of the largest market players. This opens up opportunities for small businesses, local and international investors to further develop, strengthen their market presence and attract additional investment. The methodological basis of this study is formed by general scientific methods, the complex combination and use of which made it possible to obtain important practical results. The cosmetics products markets, analyzed in the article, are defined as sustainable, stable-growing, and adaptive toward crisis occurrences. Overall, the industry that has undergone a transformation towards self-care, health and naturalness under the influence of the COVID-19 pandemic, accelerating the development of omnichannelness and innovations. Technological advances are crucial, influencing product development, customer interaction, marketing, etc. In particular, the development of e-commerce in the cosmetics products market is changing the way consumers think about the way they shop, facilitating the prior experience of finding the right product and providing the basis for more informed, yet faster, purchasing decisions. These facts are underlined by numerous statistical studies that support forecasts of the sustainability of development of e-commerce in this market in the future. In such circumstances, analyzing global trends in the cosmetics products industry helps to understand the dynamics of the local market and the behavior of players during crises. It is vital for local market players to adapt to global market rules and formulate effective strategies. It is summarized that, in addition to the generally recognized shifts in the cosmetics products market, such as the post-pandemic and the growth of e-commerce, it is important to consider trends that influence consumer choice and purchases, such as the need to personalize the consumer experience, the growth of the face and body care segment, the propensity to consume organic products, and the requirements for sustainable business development.

Keywords: cosmetics market, trends, e-commerce, omnichannelness, market volume, sustainable development, COVID-19, market dynamics.

Fig.: 4. Bibl.: 13.

Sviderska Svitlana Ye. – Postgraduate Student, Department of Management of Innovation and Investment Activities, Taras Shevchenko National University of Kyiv (60 Volodymyrska Str., Kyiv, 01033, Ukraine)
Email: [email protected]
Kukhta Pavlo V. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Innovation and Investment Activity Management, Taras Shevchenko National University of Kyiv (60 Volodymyrska Str., Kyiv, 01033, Ukraine)
Email: [email protected]

List of references in article

Ihnashkina, T. B., Dushyna, L. M., and Moskalets, T. A. “Svitovyi rynok parfumerno-kosmetychnoi produktsii: suchasni tendentsii ta perspektyvy rozvytku“ [World Market of Perfume-Cosmetic Products: Modern Trends and Prospects]. Infrastruktura rynku, no. 41 (2020): 87-93. DOI: https://doi.org/10.32843/infrastruct41-14
Baitsar, R. I., and Kordiiaka, Yu. M. “Aktualni problemy ta perspektyvy rozvytku kosmetychnoi haluzi“ [Current Problems and Prospects for the Development of the Cosmetic Industry]. Visnyk Natsionalnoho universytetu «Lvivska politekhnika», no. 821: Avtomatyka, vymiriuvannia ta keruvannia (2015): 44-49.
Dobrovolskyi, V. V. “Otsinka rynku parfumerno-kosmetychnykh tovariv“ [Estimation of the Market of Perfumer-Cosmetic Goods]. Ekonomika ta upravlinnia natsionalnym hospodarstvom. 2018. https://economyandsociety.in.ua/journals/15_ukr/19.pdf
Lebedynets, V. O., and Kazakova, I. S. “Aktualni tendentsii rozvytku rynku kosmetychnoi produktsii v Ukraini“ [Current Trends in the Development of the Cosmetic Products Market in Ukraine]. Suchasni dosiahnennia farmatsevtychnoi tekhnolohii i biotekhnolohii. 2017. https://dspace.nuph.edu.ua/bitstream/123456789/11742/1/125-128.pdf
Marchessou, S., and Spagnuolo, E. “Taking a Good Look at the Beauty Industry“. McKinsey & Company. July 22, 2022. https://www.mckinsey.com/industries/retail/our-insights/taking-a-good-look-at-the-beauty-industry
Danziger, P. N. “6 Trends Shaping the Future of the $532B Beauty Business“. Forbes. September 01, 2019. https://www.forbes.com/sites/pamdanziger/2019/09/01/6-trends-shaping-the-future-of-the-532b-beauty-business/?sh=56b079e6588d
Mittal, M. “Three Strategies for Optimizing Your E-commerce Beauty Platform in 2021“. Forbes. June 23, 2021. https://www.forbes.com/sites/forbestechcouncil/2021/06/23/three-strategies-for-optimizing-your-e-commerce-beauty-platform-in-2021/?sh=593099e63eb2
“Distribution of E-commerce Beauty Care Market Sales Worldwide from 2017 to 2025, by device“. statista. August 29, 2023. https://www.statista.com/forecasts/1342825/e-commerce-beauty-care-market-sales-worldwide-dsitribution-device
“Penetration Rate of the E-commerce Beauty Care Market Worldwide from 2017 to 2027, by segment“. statista. 2023. https://www.statista.com/forecasts/1342827/beauty-care-e-commerce-market-penetration-rate-worldwide
“Revenue of the Beauty & Personal Care Market Worldwide from 2015 to 2028“. statista. 2023. https://www.statista.com/forecasts/1244578/beauty-and-personal-care-global-market-value
“Beauty and Personal Care Market Value Worldwide from 2015 to 2028, by category“. statista. 2023. https://www.statista.com/statistics/550657/beauty-market-value-growth-worldwide-by-country/
Bhat, Y. J. et al. “Cutaneous Manifestations and Dermatological Manifestations of COVID-19: A Systematic Review and Meta-analysis“. Journal of the American Academy of Dermatology, vol. 84, no. 6 (2021): 1479-1485.
“Personal Care Industry Size & Share Analysis - Growth Trends & Forecasts (2023-2028)“. Mordor Intelligence. 2022. https://www.mordorintelligence.com/industry-reports/global-beauty-and-personal-care-products-market-industry

FOR AUTHORS

License Contract

Conditions of Publication

Article Requirements

Regulations on Peer-Reviewing

Publication Contract

Current Issue

Frequently asked questions

INFORMATION

The Plan of Scientific Conferences

OUR PARTNERS

Journal «The Problems of Economy»

The site and its metadata are licensed under CC BY-SA.

Write to webmaster