Updated Dec 23, 2007
Although there are continuing cries for legislation, and more research on the safety of nanotechnology in the cosmetic industry, the technology is still on a high. According to market research company BCC Research, the global market for cosmetics and personal care items using nanotechnology will grow by an annual figure of 16.6 percent. BCC Research’s recent report states that the sector will be valued at $155.8 million by the year 2012, moving from $62 million currently. Sunscreen is currently the products where the technology is heavily utilized and is forecast to account for over 90 percent of the market in the next few years.
Industry experts expect the demand for regulations to govern nanotechnology to increase in 2008. Since this year, a number of interest groups have issued reports citing the possible dangers of nanoparticles in personal care products. Friends of the Earth have been lobbying for products to carry labels informing consumers that they contain nanoparticles.
Written by the CareFair.com Editorial Team.
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