Any beauty product that is professionally made for use in cleansing, improving the complexion, skin, hair, or teeth falls under purview of cosmetic regulations. Common cosmetics are fragrance, skincare, hair, and manicure products. Compliance adherence from initial cosmetic product development stage to market execution is necessary as it ensures your products will be approved by the regulatory authorities.
In Canada, the cosmetic market value is anticipated to reach around 15.8 billion U.S. dollars in 2021, which is an increase of almost three billion U.S. dollars from the last five years. When it comes to USA, the revenue generated by the Cosmetic Industry is 49.2 billion US dollars. It is the most valuable beauty and personal care market in the world.