Conducting a Competitor Market Analysis of Anhydrous Cosmetic Products for One of Our Cosmetics Client
Challenges​
Context
Approach
Results
Challenges​
- Due to the low revenue from cosmetic tablets, many suppliers do not showcase their anhydrous tableting capabilities on their websites.
- To verify their capabilities, we must contact them directly via phone calls or email.
- Similarly, many brands did not disclose their manufacturers. As a result, locating additional market participants and verifying their capacity to make cosmetic tablets may be required.
Context
- Create a competitor map of Cosmetic Anhydrous products & existing brands to understand the current market landscape.
- Conduct interviews with existing contract manufacturers with current capabilities to develop Anhydrous cosmetic tablets to gain insight into the manufacturing process and potential challenges.
- Source new contract manufacturers who are capable of making significant advancements in these capabilities.
Approach
- Analyzed multiple types of sources to gain a comprehensive understanding of the brands in the market.
- Mapped the top brands in the market to understand their evolution and prices.
- Sourced new suppliers and shortlisted the top ones using multi-criteria decision-making methods.
- Conducted interviews with the shortlisted suppliers to understand their capabilities and future plans for producing the tablet.
- Sourced top players from other industries to understand their capabilities for producing the tablet and confirm their suitability.
Results
- Over 90 types of sources with 28 000 names were reviewed
- 152 players identified with all industry to produce cosmetic tablet
- Thorough understanding about number of brands in the market and their evolution
- Key market insights
- Most existing products in a tablet form are toothpaste and effervescent tablets than cosmetic applications
- Single dose tablets are more commonly used than refill ones
- Powder products (shampoo, face masks, soap) are more common on the market
