THE IMPACT OF GLOBALIZATION IN THE INDUSTRY OF COSMETICS

Oana Secara and Dinu Vlad Sasu ()
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Dinu Vlad Sasu: UNIVERSITY OF ORADEA,

Annals of Faculty of Economics, 2013, vol. 1, issue 2, 681-691

Abstract: I would like to point out that this paper focuses on the skincare product market, because of the amplitude that it holds in the global cosmetic industry. The aim of this paper is to compare the dominant cosmetic consumer’s market (i.e.France, Germany, U.S.A. ) to the ones that are just now emerging( China, Republic of Korea, India). In the progressive manner I tried to highlight the importance of Asiatic skincare cosmetic market in the context of global skincare market. The products on the cosmetics market like skincare products amounted in 2012 to 288 billion $, make-up products to 20,92 billion $, hair care products to sums equaling 45,69 billion $, while the perfumes market got to 8,44 billion $. The skincare products industry is today more productive than ever. The market of these products was performant between 2011 and 2012 and registered a great development in countries like France, Germany, Italy, Spain and Great Britain. It meant in 2011, 6,8 percentages more than the year before. In 2012, the European sector of skin care products registered an important increase, regarding the value, especially in France and Germany. By comparison with the American one, the difference of sales volume value between the two sectors (European and American) is relatively little. The biggest increases of sales volume, expressed in percentages, were registered in France and Spain. The well-known competitors and experts concentrate their attention upon the Asian continent, that has become day by day more interesting for the cosmetics companies all over the world. On the entire Asian continent, companies try to discover skin care formulas that are more and more sophisticated. The high-quality products, once available only in Japan, are now reachable also in Korea and China, thing showing that the Korean market finds itself into a permanent transformation.

Keywords: world-wide cosmetic industry; European cosmetics market; Asiatic cosmetics market; Korean cosmetics market; Chinese cosmetic market; Japanese cosmetic market (search for similar items in EconPapers)
JEL-codes: M31 (search for similar items in EconPapers)
Date: 2013
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