Exports of essential acceptances from the Caribbean to the EU have grown by 33% in the last year due to growing concerns about sustainability and ethics in personal care products, according to the Caribbean Export Development Agency (Caribbean Export) July 31st.
Caribbean Export says that the natural cosmetics sector is currently growing at an annual rate of 8-10% in the EU, with a growing demand for natural ingredients, particularly black castor and coconut oils.
“In 2018, Caribbean countries (CARICOM) exported essential acceptances worth more than €32M (US $ 35.8M) to the EU, which represents 8% of all imports into the region”, says the competitiveness manager export promotion from Caribbean Export, Damie Sinanan.
“We are seeing that this demand is increasing year after year, largely due to a greater concern for sustainability and ethics on the part of European consumers.
“Businesses and consumers want to feel confident that what they are buying is made with natural 100% and that there are no synthetic components”.
The Caribbean had its strength in the production of black castor oil, for example, which was distinct from castor oil, says Sinanan.
Produced mainly in Jamaica and Haiti, black castor oil is roasted, ground and cooked to extract a dark brown oil rich in vitamin E, minerals, proteins and omega 6 and omega 9 fatty acids.
Sinanan I say to Cosmetics Design-Europe It was August 7th that growing interest in men's personal care was also driving the demand for essential Caribbean acceptances.
EU demand is concentrated in Germany, France, Italy, Spain and the United Kingdom.
In Europe, the cosmetics market is valued at €77 thousand million (US $ 86 thousand million), which makes it the largest market in the world, according to Caribbean Export.
Source: OFI Magazine
