The ultimate goal of the brand is to turn into being organic and environmentally friendly, without leaving any negative footprints and, thus coming up with game-changing innovations which are making the cosmetic industry more ethical and sustainable.
The industry is progressing very quickly. According to industry experts, it is expected that Indian Cosmetic Industry to grow annually by 25 percent, touching $20 billion (£15,606,900,000.00) by 2025”.
Customers' skincare routine has shifted to a routine where ‘being organic’, ‘naturally produce’, ‘eco-friendly’, ‘sustainable’, and ‘vegan’ are the new buzzwords. Brands too are promoting their products using terms like eco-friendly packaging, environmentally friendly source, and zero waste to reflect sustainability. And, thus it has become a massive point of discussion in the beauty industry these days where products are being promoted by brands with a claim like clear beauty, water-free, recyclable beauty, and more.
One fact that beauty brands can’t ignore is that sustainability doesn’t mean avoiding ingredients from ‘the dirty list’, rather it should consist of responsibility towards the source of the ingredient, its manufacturing, its safety, and the product’s end.
Sustainability is a journey with a wide and complicated route, as it affects every area of the business be it supply chain, packaging, sourcing, suppliers, partners, and even consumers.
Consumers being more focused on health and well-being, is making brands more curious to find out what influences the consumer purchase decision when it comes to sustainability.
Now, consumers are more interested in knowing the process rather than the product. Thus, brands are trying to understand this vital shift towards sustainable beauty brands and find out - is that savvy/ conscious consumer today really ‘conscious’ and understands what it means for brands to ‘go green’.
Yes, Consumers Do Care
Consumers are ready to pay more for sustainable beauty brands as they are increasingly considering it as individual responsibility.
One of the recent surveys done by Marketing consultant PULL Agency in their study on ‘Future of Beauty’ shared that, “72 percent consumers believed that individuals were most responsible for the caring planet. Only 16 percent believed companies to be more responsible and 13 percent mentioned government to be more responsible”.
Thus, brands can support conscious consumers by sharing the knowledge of sustainable methods used by them.
One of the studies done by Unilever mentioned that “a whopping 966 billion Euro opportunity is there for brands which make their sustainability/environmental credentials clear”, as customers are reading the information about the product and its packaging thoroughly.
The greater demand for sustainable beauty brands is seen in emerging economies rather than developed markets. And, the apparent reason for this high demand is social norms and responsibility towards mother earth, which is making brands embrace planet-friendly positive strategies.
Brands Making Difference
Sustainability is influencing consumer purchase decisions and making brands globally to keep the environment in mind. Luxury brands like Tiffany & Co, ORGANIC by John Patrick, Valentino all are making efforts in communicating their sustainability model and sharing their long-term plan.
Many Indian local brands came into the spotlight because of their best natural recipes coming across generations to today’s skincare solutions. Brands like Biotique, Khadi Essentials, Plum, and many more are giving tough competition to foreign brands in terms of accessibility and affordability with quality and beauty benefits.
According to Grand View Research, Inc. it is predicted that “by 2025, the organic beauty market will reach $25.11 billion”.
A variety of products in various verticals are trying to enter into this world of sustainability, the question to ponder upon is how many will reach green marketing and how many will end at greenwashing?