Market Research Study on Various Raw Materials Sourced by a Cosmetics Client
Market Research Study on Various Raw Materials Sourced by a Cosmetics Client
Context
Scope
Solution Offered
Results
Context
- Cosmetics companies are initiating efforts to (re)formulate their products using organically sourced materials due to consumer demands and their corporate social responsibility obligations.
- As a result of this significant shift, there have been shortages and price hikes for their selected raw materials.
- This trend necessitates reinforcing the connection between purchasing and R&D team to enhance their understanding of alternative sources and potential substitutes, as well as streamlining internal approval procedures to minimize delays.
Scope
- To identify all the elements likely to influence the availability of the selected raw materials and to put in place a plan to observe and control the risks related to availability & price fluctuations of the selected raw materials.
Solution Offered
- Basic Profiling of selected raw material/commodities (total of 15 commodities/raw materials):
- General & Technical overview,
- Applications
- Value chain
- Manufacturing process
- Assessment of Market scenario
- Market overview & trend analysis
- Market segmentation
- Assessment of market & technological trends of the selected raw materials/commodities
- Assessment of alternatives – product & process alternatives (inline with sustainability goals)
- Identification of CSR/sustainability related issues and assessing the sustainable sourcing opportunities for the selected raw materials/commodities
- Competitive landscape of the selected raw materials/commodities in target regions
Results
- Recommendations made on suitable alternatives – process and product alternatives along with their potential suppliers for re assessing their sourcing strategies.
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