Trends in the Development of the World and Ukrainian Markets of Cosmetic Hroducts

Abstract

The question of the development of product markets, changes, trends, features, and influencing factors is of primary importance in international business from the point of view of marketing research for entering new markets or business expansion. The purpose of the research is to monitor the functioning of the global and Ukrainian market of cosmetic products and to determine the main trends in their development. As a result of research into the world market of cosmetic products, the following trends are observed: growth in the sales of Korean cosmetic products, growth in the production and sales of ecological cosmetics, the target audience of the market is expanding, the popularity of the promotion and sales of cosmetic products using Internet technologies is increasing, there is a decline in the demand for decorative cosmetics, the demand for products of the premium segment is decreasing, while the demand for products of the cheap price segment is increasing. Similar trends are also taking place in the Ukrainian market, namely the growth in demand for cosmetics based on natural ingredients, a significant increase in online sales of cosmetics. Therefore, international business entities working in the cosmetics market should take into account the trends of the world and domestic markets, focus on customer requests, and significantly develop the online promotion and sales system, using the latest information technologies in international marketing.