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Overview of Cosmetics Regulations and Market Growth in Nepal

This comprehensive analysis explores the regulatory framework governing the cosmetics industry in Nepal, focusing on key legislation such as the Cosmetics, Devices and Drugs Act, and the Company Act. Notably, the annual growth rate of the industry from 2015 to 2016 stood at 9%, with a forecast of a global market share reaching $429.8 billion and a CAGR of 4.3%. The report examines consumption trends, economic factors, technological advancements, and challenges such as increased competition and import duties, alongside the influence of globalization.

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Overview of Cosmetics Regulations and Market Growth in Nepal

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  1. Beauty Solutions Pvt. Ltd.

  2. Act and Regulatory Bodies • Cosmetics, Devices and Drugs Act, no. 27, of 1980 • Company act, 2063 • Industrial enterprise act, 1992 • Labor act, 2074 • Department of drug administration (DDA) • Department of industry

  3. Annual growth in Cosmetics Industry (from 2015-2016) 9% 9% 5% 4% 4%

  4. Forecast of growth in Cosmetic Industry Global market share : $429.8 billion CAGR : 4.3%

  5. Import of Nepal

  6. Import of Nepal

  7. Consumption in Nepal • Import of cosmetics : 4.36 billion in 2016/2017 • Consumption : 5.5 billion annually • Consumption : Increment by 19.6 percent from fiscal year 2016/17 from last year

  8. Political environment • Political stability • Increase in taxation • Separation of power

  9. Economic environment • Resistant to economic recessions • Increasing GDP per capita purchasing power parity. ( highest in 2017 at 2442.80)

  10. Prospect of doing business • Ease of doing business

  11. Prospects of doing business

  12. Technological environment • Increasing internet users

  13. Technological environment • Mechanized production • Increased local production using different technology ( Dekar, Freshia, Enricher, New look ) • Use of nanotechnology • Slow development

  14. Environmental environment • Lot of natural resources • Increased pollution

  15. Socio-cultural environment • Change in lifestyle • Increasing male users • Increasing usage rate • Adoption of western culture

  16. International environment • Barriers to trade • Globalization

  17. Legal environment • COSMETICS, DEVICES AND DRUGS ACT, NO. 27 OF 1980 -License -Sanitary conditions -Standardization -Should not be injurious -Authorized officers -Power of authorized officers -Approved analysts

  18. Legal environment • Import tax – 9.5 % on SAARC countries – 15 % on other countries

  19. Impact of globalization Pros • Technological development • Huge trade • Global economic growth Cons • Threat to local industry

  20. Challenges • Increased competition • Higher import duties • Inconsistency of rules and regulations at custom

  21. References • https://www.alliedmarketresearch.com/cosmetics-market • https://www.customs.gov.np/upload/documents/HS%202071_20141012134903.72(2014 • https://myrepublica.nagariknetwork.com/news/consumption-of-cosmetic-products-rising-steadily/

  22. References • http://www.asianlii.org/np/legis/laws/cdadan27o1980304/

  23. Thank You

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