(Jamaica Observer) – THE Scientific Research Council (SRC) will be hosting a lotion and body cream formulation workshop on September 30 as part of its efforts to support the development of micro, small and medium-sized enterprises (MSMEs) in the agro-manufacturing sector.
The SRC is the agency of the Ministry of Science, Energy and Technology mandated to foster the development of scientific research and the transfer of technology for the country’s benefit.
The global body creams and lotions market being targeted is categorised as a part of the global personal products market. It includes companies engaged in research and development (R&D) and production of personal and beauty care products, including cosmetics and perfumes.
Major players in the hand cream and hand lotion market globally are Unilever, Johnson & Johnson, Procter & Gamble, Coty, Beiersdorf, LYNX, Whealthfields Lohmann, Shanghai Jahwa, and Suave.
Body lotion helps to keep the skin hydrated and elastic by encouraging cell turnover and preserving moisture. The market was valued globally at US$81 billion annually up to 2020, before the coronavirus pandemic.
Reportlinker.com, on September 24 released a new report, the Hand Cream and Hand Lotion Global Market Report 2021: COVID-19 Growth And Change To 2030, which said output is expected to be US$5.35 billion in 2021.
The two-day Scientific Research Council workshop will be done virtually and will comprise practical demonstrations with resource materials supplied by the SRC, theoretical presentations, a question-and-answer session, and an assessment.
“We want to transfer the knowledge on how to use our local raw materials to stimulate business development and growth, so the workshop is targeting aspiring entrepreneurs and current business owners who would like to expand their product line,” marketing and corporate communications manager at the SRC, Carolyn Rose Miller said in a Jamaica Information Service (JIS) release.
The workshop will be facilitated by Natural Product Research Scientists at the SRC, experts in personal care products.
“The workshop will explore the emulsification of creams and lotions, basic lotion design, preservatives and shelf life and strategic marketing. It is a comprehensive workshop, so when you’re finished you should be able to manufacture creams and lotion on your own,” Miller stated.
In addition to formulation, the SRC provides a range of business development services such as production scheduling, labelling, and marketing.
Interested persons can contact the SRC for more information. “We are almost full so only a few spots are available because we want to ensure that the group size can facilitate interactivity,” Rose Miller said.
The council will also be hosting a sauce-making formulation in October and interested persons can contact the SRC to register.
Reportlinker.com said growth in creams and lotions globally this year and going forward will be mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
The market is expected to reach US$7.67 billion in 2025 at a compound annual growth rate (CAGR) of 9 per cent.
Reportlinker.com noted that the presence of counterfeit products is a key factor hampering the growth of the hand cream and hand lotion market.
It noted, “Since many users are unaware that the product they are using is a counterfeit, the user will blame the authentic company if the take-off item stops working properly, or it quickly falls apart, or it doesn’t meet their expectations.”
The research source said that retailers, distributors and other organisations that work with companies frequently lose trust in reputable companies because of counterfeiters’ actions. More than US$31.76 billion was lost annually by counterfeit goods throughout the fashion industry alone each year.
SOURCE: https://bit.ly/3DsLMiv
