Fair Trade Products Gaining Ground

LONDON—Fair Trade products are gaining in popularity in the cosmetics industry as companies look at ethical sourcing and social responsibility, according to a Strategic Insights Report from Organic Monitor. The market research firm found a large number of natural and organic cosmetic companies are implementing Fair Trade sourcing policies and launching certified Fair Trade products. The majority of the product launches have been in France.

Organic Monitor noted a number of cosmetic companies are setting up Fair Trade grower projects in Africa, Asia and Latin America, with some growing endangered plant species and investing in social community projects. It further is predicting adoption rates to rise as more certified Fair Trade ingredients become available.

In related news, Organic Monitor released prelimnary research results from its report The European Market for Natural & Organic Cosmetics, due to be released in December 2008, which shows the market is expected to break the US$2 billion barrier this year. The company noted high market growth rates are occurring across Europe as companies respond to increasing consumer demand for eco-friendly cosmetics and personal care products.

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