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{"id":18391,"date":"2023-05-31T19:05:18","date_gmt":"2023-05-31T16:05:18","guid":{"rendered":"https:\/\/modecon.mnau.edu.ua\/?p=18391"},"modified":"2023-05-31T19:10:26","modified_gmt":"2023-05-31T16:10:26","slug":"trends-in-the-development-of-2-2","status":"publish","type":"post","link":"https:\/\/modecon.mnau.edu.ua\/en\/trends-in-the-development-of-2-2\/","title":{"rendered":"Parkhomenko N., Denysiuk O. Trends in the development of the world and Ukrainian markets of cosmetic products…"},"content":{"rendered":"

[vc_row][vc_column][vc_column_text]<\/p>\n\n\n\n
JEL Classification<\/strong>: F29; L66
\n<\/span><\/td>\n		DOI<\/b>: https:\/\/doi.org\/10.31521\/modecon.V38(2023)-19<\/a><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

[\/vc_column_text][vc_column_text]Nataliia Parkhomenko, <\/strong>Doctor of Economics and Management, Associate Professor, Professor of the Department of International Economic Relations, Simon Kuznets Kharkiv National University of Economics, Kharkiv, Ukraine<\/p>\n

ORCID ID:<\/strong> 0000-0001-8776-6970<\/a>
\ne-mail: <\/strong>parkhomenko.na28@gmail.com<\/a><\/p>\n

Olga Denysiuk, <\/strong>PhD (Economics), Associate Professor of the Department of Economics, Management and Territorial Management, Institute of Innovative Education of the Kyiv National University of Construction and Architecture, Kyiv,\u00a0 Ukraine<\/p>\n

ORCID ID:<\/strong> 0000-0001-5294-4933<\/a>
\ne-mail: <\/strong>ovi@ksue.edu.ua<\/a><\/p>\n

 <\/p>\n

Trends in the Development of the World and Ukrainian Markets of Cosmetic Products<\/strong><\/h2>\n

\u00a0\u00a0<\/strong><\/p>\n

Abstract. Introduction<\/strong>. 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.<\/p>\n

Purpose. <\/strong>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.<\/p>\n

Results.<\/strong> 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.<\/p>\n

Conclusions.<\/strong> 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.<\/p>\n

Keywords:<\/strong> market development trends; global market of cosmetic products; Ukrainian market of cosmetic products; international business; marketing research.<\/p>\n

References:<\/strong><\/p>\n

    \n
  1. Baytsar, R. I. & Kordiyaka, Y. M. (2015). Current problems and prospects for the development of the cosmetic industry. Visnyk Natsional’noho universytetu \u00abL’vivs’ka politekhnika\u00bb. Avtomatyka, vymiriuvannia ta keruvannia<\/em>, 821, 44-49 [in Ukrainian].<\/li>\n
  2. Brand Finance Global 500 (2023). Official web-site<\/em>. Retrieved from https:\/\/brandfinance.com\/images\/upload\/global_500 _2022_free.pdf [in English].<\/li>\n
  3. Dobrovolsky, V. V. (2018). Evaluation of the market of perfumery and cosmetic products. Ekonomika ta upravlinnia natsional’nym hospodarstvom,<\/em> 15, 120-123 [in Ukrainian].<\/li>\n
  4. Global market value for natural and organic cosmetics and personal care from 2020 to 2031 (2022). Statista. Official web-site.<\/em> Retrieved from https:\/\/www.statista.com\/statistics\/673641\/global-market-value-for-natural-cosmetics\/ [in English].<\/li>\n
  5. Ignashkina, T. B., Dushina, L. M., & Moskalets, T. A. (2020). World market of perfumery and cosmetic products: current trends and development prospects. Ekonomika ta upravlinnia pidpryiemstvamy,<\/em> 41, 87-93. Retrieved from http:\/\/www.market-infr.od.ua\/journals\/2020\/41_2020_ukr\/16.pdf [in Ukrainian].<\/li>\n
  6. Kim, S. M. & Park, M. J. (2020). Evaluation of cross-national global market segmentation and strategy: The case of Korean Wave for ASEAN countries. Asia Pacific Management Review, <\/em>25, 4, 207-215. Retrieved from https:\/\/www.sciencedirect.com\/science\/article\/pii\/S1029313220300178 [in English].<\/li>\n
  7. Lebedynets, V. O., & Kazakova, I. S. (2017). Current trends in the development of the cosmetic products market in Ukraine. Suchasni dosiahnennia farmatsevtychnoi tekhnolohii i biotekhnolohii, <\/em>2, 125-128 [in Ukrainian].<\/li>\n
  8. Ukrainian market of perfumery and cosmetic products. Association of Perfumery and Cosmetics of Ukraine (2023). Official web-site. <\/em>Retrieved from http:\/\/apcu.ua\/rinkovidoslidzhennya-ta-statistichni-dani\/parfumerno-kosmetichnijrinok-ukraini.htm [in Ukr.].<\/li>\n
  9. Watanabe, N. M., Kim, J. & Park, J. (2021). Social network analysis and domestic and international retailers: An investigation of social media networks of cosmetic brands. Journal of Retailing and Consumer Services Journal of Retailing and Consumer Services,<\/em> Retrieved from https:\/\/www.sciencedirect.com\/science\/ article\/pii\/S0969698920313096 [in English].<\/li>\n
  10. World Population Prospects (2022). Highlights. United Nations. Department of Economic and Social Affairs Population Division. Official web-site. <\/em>Retrieved from https:\/\/population.un.org\/wpp\/ [in English].<\/li>\n<\/ol>\n

    [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Received:<\/strong> 24 April 2023<\/p>\n

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    Parkhomenko N., Denysiuk O. (2023). Trends in the development of the world and Ukrainian markets of cosmetic products…. Modern Economics, 38(2023), 125-131. DOI: https:\/\/doi.org\/10.31521\/modecon.V38(2023)-19.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
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    [vc_row][vc_column][vc_column_text] JEL Classification: F29; L66 DOI: https:\/\/doi.org\/10.31521\/modecon.V38(2023)-19 [\/vc_column_text][vc_column_text]Nataliia Parkhomenko, Doctor of Economics and Management, Associate Professor, Professor of the Department of International Economic Relations, Simon Kuznets Kharkiv National University of Economics, Kharkiv, Ukraine ORCID ID: 0000-0001-8776-6970 e-mail: parkhomenko.na28@gmail.com Olga Denysiuk, PhD (Economics), Associate Professor of the Department of Economics, Management and Territorial Management, Institute of
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