The Global Cosmetics & Personal Care Testing, Inspection, and Certification Market is expected to grow at a high CAGR during the forecasting period (2021-2028).
CLEVELAND, OHIO, UNITED STATE AMERICA, October 26, 2021 /EINPresswire.com/ —
With an increasing number of brands and variations of cosmetic products lining the shelves of department stores, drugstores, perfumeries, and toy stores globally, the market is expected to boom over the forecast period.
Cosmetic testing service represents the industrial activities that ensure that manufactured products, individual components, and multicomponent systems are adequate for their intended purposes.
Inspection and testing are the operational parts of quality control, which is the most crucial factor in the survival of any manufacturing company.
Quality control directly supports the other elements of cost, productivity, on-time delivery, and market share.
The testing, inspection, and certification market consists of conformity assessment bodies that offer services ranging from auditing and inspection to testing, verification, quality assurance, and certification
In recent years, as consumers have become more knowledgeable about the use of environmentally sustainable ingredients and production practices, there has also been a growing interest in cosmetic products comprised of “natural” or “organic” ingredients.
There is a large number of high-quality, conventional products on the market, the interest in natural cosmetics represents a potential opportunity to expand the overall market. And this trend holds special significance for domestic manufacturers that can bring to market unique cosmetic products that meet this demand and that are both natural and safe.
Some of the manufacturers have In-house testing services to have complete control over the entire process. In-house testing is conducted by companies when it is associated with their core business expertise. To perform in-house testing activities, a company must build in-house capabilities in terms of technology, test and measurement equipment, and skilled personnel. The majority of the testing, inspection and certification services are conducted in-house.
Certification services ensure product safety and performance attributes. Certification services mainly include customized audit and certification services with reference to quality, health and safety, environment, and social responsibility. These services are aimed at improving business performance.
Outsourcing testing, inspection, and certification (TIC) services to third-party service providers is a business practice used by multiple products and component manufacturers to ensure adherence to national and international standards of quality and safety, as well as to reduce recall costs and improve production efficiency by shifting non-core tasks, operations, jobs, or processes to an external third-party specialist for a long time.
Outsourcing gives companies more time to strengthen their core business processes, which helps them reduce operational costs, and enables them to provide faster and better services.
This facilitates improved productivity and process efficiency, thereby contributing to the increase in the company’s net income.
Hence, the trend of outsourcing testing, inspection, and certification (TIC) services to third-party specialists is being increasingly adopted by both private and government agencies (public firms).
With rising globalization in trades and businesses, different local regulations and standards are likely to create barriers to the acceptance of products internationally. This creates conflicts between the local and international standards, thereby hindering market growth.
Variations in regulatory standards across different regions lead to discrepancies in tax rates, hence, incurring additional costs from companies (hiring local staff to handle tax-related issues, etc.).
Cosmetics & personal care testing, inspection, and certification (TIC) companies are subject to local laws and have to abide by the regulations and norms of countries in which they operate, which can hamper their efficiency.
Also, the risk related to the standardization and quality of testing and certification provided by testing, inspection, and certification (TIC) companies always exists.
By Service Type
• Testing Services
• Inspection Services
• Certification Services
By Sourcing Type
• Hair Care
• Skin & Body products
• Bath Products
• Kid & Baby Safe
• OTC & Cosmeceuticals
The Cosmetics & Personal Care Testing, Inspection and Certification (TIC) Market Company Profiles are Intertek Group PLC, TUV SUD AG, UL LLC, SGS SA, ALS Limited, Eurofins Scientific SE, TUV Rheinland, Bureau Veritas SA.