Ukraine has been in news these days, and several industries are getting affected with a fear of war looming in. 

But do you know, Ukraine wasn't a free and prosperous country for many decades. But we have still seen developments happening in Ukraine, which takes us to the corner of Ukraine's Cosmetic Industry.

The cosmetic market in Ukraine witnessed strong growth for a considerable amount of time. The local currency (hryvnia, UAH) didn't face significant devaluation for some years now. 

Cosmetic product sales continue to be largely generated by brands that serve products with not-so-high prices. 

For many years, top positions in beauty and personal care in Ukraine continue being occupied by international giants such as L'Oreal, P&G, and Avon Cosmetics Ukraine. Big Companies, that operate in several different parts of the world create their presence because of the below reasons;

1. First-Mover Advantage
2. Deep Pockets to fund for an extensive supply chain
3. Bulk Production
4. Significant Investment in New Product Development
5. Regular Advertising

Ukrainians are typically very open to innovations in the cosmetic industry and would like to check out new formulations or product designs. Several local players also came into existence and worked on new product formulations. 

The performance of the cosmetic industry is expected to be much dependent on the speed of economic recovery in Ukraine, which seems to be in a void since Russia has declared war with Ukraine.

"It doesn't matters who is Right in a War ... You can be Right at your Place ... Your Enemy can be Right at their Place ... Only thing that is Wrong is WAR"

Because of circumstances like these, companies will have to shut down their operations in Ukraine, and there will only be local players in the market. Although, they will require new ways to acquire or produce raw materials.

The Ukrainian cosmetic market's biggest players include companies like Agor, Piel Cosmetics, Organic Life, and White Mandarin. One of the biggest Ukrainian online cosmetic stores, makeup.ua, has at least 120 brands marketed as 'Made in Ukraine'. Most of the companies produce skincare and hair products.

Although Ukraine is working on exporting cosmetic products, the still market has more cosmetic product imports than exports, but the gap seems to be bridging in some years down the line.

As we know, how west Ukraine is well connected to other European countries, so most of the imports are from European countries only.

So where is the opportunity?
Although more than 20 to 30% of cosmetics or related items are imported from European countries, there has been an increase in the demand for organic and natural beauty products, and these needs are being catered by local companies.

Having said that, these are the organizations, that are driving the cosmetic industry and related education in this part of the world.

As there is more awareness about personal hygiene and cosmetic product usage, more such companies will help nurture the people in the cosmetic industry.

But it also depends on how its relations are with Russia. I am saying this is because no one is on a benefit during the war. It could also take Ukraine to the dark ages, which may result in a further slowdown of the cosmetics industry.

But sooner or later, this industry will have more scope, as we all are living in the 21st century and everyone knows the benefit of choosing peace and a pack of face wash.

Also, Ukraine's population spends most of its income on cosmetic products. Even it is a great market to expand if you can provide good quality cosmetic products at an affordable cost.

Even there is a segment for children's cosmetics, that many people around the world might like to research.

If you are from Ukraine, you can register with thewiki Network and collaborate with us with regards to increasing knowledge about the cosmetics industry. Please feel free to leave a comment below to add any new information, or if you want to register, please click here.