It’s a SMALL and beautiful world!
Nanotechnology in cosmetics
(online source: https://www.youtube.com/watch?v=JLYPHrWTjvo)
Is it still a small world after all?
Global cosmetic retail sales figure is keeping its upward trend. The report from Marketandmarkets (n.a.) forecasted global cosmetics market value worths $635.7B in 2019. To be a winner, company have to dig in product innovation and ensure strategic fit for adapting the fast developed market demand and change. Nowadays, the global trend in the cosmetic industry is still in the stage where players foucs on 'medicinally' active cosmetics development. Cosmeceutical products are then take advantage of an opportunity to bloom in the market. It is not a new story to tell that cosmetics industry has widely adopted nanotechnology in R&D. Even the world largest cosmetics company L’oreal devoted big money to obtain patents in nanotechnology. What does it imply for? According to Hove (2014), to transform the company to become more innovative and create a culture of continuous innovation that enables strategic renewal - Clear purpose of innovation or creativity, make it happens and stick in company are the key factors to become the champion in this keen competitive industry. Let’s have a ride inside this small world.
How this SMALL thing changed the world?
Nanotechnology is the innovative science and technology conducted at the nanoscale, which is about 1 to 100 nanometers.
Can’t imagine how small is “nano”?
In the International System of Units, the prefix "nano" means one-billionth, or 10-9; therefore one nanometer is one-billionth of a meter.
Indeed, nanotechnology involve the ability to see and to control individual atoms and molecules and everything on Earth is made up of atoms—the food we eat, the clothes we wear, the buildings and houses we live in, and our own bodies.
Do you know what nano means?
(Online source: https://www.youtube.com/watch?v=PwPZvLvxixA)
The laughers in NANO revolution
The latest innovation of nanotechnology brings a new breakthrough in the personal care as well as cosmetics industry. Such emerging new technologies of nanotechnology in cosmeceutical preparations better improved the functionality of the products on the biological level. It increases the active ingredients and aesthetic appeal of cosmeceutical products with prolonged effects.
From traditional to NANO
Chemical ingredients such as Zinc oxide (ZnO), titanium dioxide (TiO2), Liposomes and noisome are used in various cosmeceutical products such as sunscreens, moisturizers and anti-aging products. Beneficial from the advanced nanotechnology, the “nano-version” of these chemical ingredients, known as nanoparticles, delivers a better performance in formulation, delivery and penetration.
The application of nanotechnologies enhanced the functionality and aesthetic appeal of various cosmeceutical products. For example in the sunscreens, unlike the traditional white thick sticky appeal, nanoparticles form a better UV filters to enhance the protection from ultraviolet (UV) radiation and improve the aesthetic appeal with less greasy and smelly. Nanoparticles also provide prolonged effects in moisturizers formulation and increase epidermal water content and hyperplasia, and cell renewal while enhancing collagen synthesis and greatly improve the effectiveness of the anti-aging cosmeceutical products.
Five things worth knowing about nanoparticles and sunscreens
(Online source: https://www.youtube.com/watch?v=VV0cCg4clMw)
Solid lipid nanoparticle
Delivery and penetration enhancer
Nanotechnology brings the possibility to tailor the essential structures of materials at the nanoscale for achieving specific functions. The new formation of solid lipid nanoparticles and nanostructured lipid carriers deliver better performance in skin hydration, bioavailability, and stability as well as controlled occlusion. Also, nanoparticle with finer structure can better transport the beneficial compounds deep into the skin and in high concentrations.
From the perspective of manufacturers, by controlling shape and size at the nanometer scale, companies can optimize the manufacturing conditions for skincare formulation and the components transfer so as to improve functionality and durability of their products.
The tears behind the innovative science
Despite the great enhancement of nanotechnologies, potential unintended consequences to human health and the environment are yet to be studied and discovered.
With the high penetration and prolonged effects of nanoparticles used in cosmeceutical formulations, long-term effects of the chemicals being generated in the skin cells are still uncertain.
Researches and studies are conducted to study the risks and the negative effect of nanotechnology applied in cosmeceutical products. Different researches showed that using the cosmeceutical products with Nanoparticles on skin can have toxic effects if reaching to blood stream. And TiO2 nanoparticles can produce free radicals and cause cell toxicity in test tube studies, when exposed to UV light. Besides, nanoparticles are also concerning for contaminate water and create harmful impact to the environment.
Various investigations are still taking place for clarifying these phenomena, and relevant guidelines are set up for the incorporation of nanotechnology in cosmetics industry. Further research and safety testing should be proceeded for better understanding of the risks to apply nanotechnology into cosmeceutical products.
The combination of nanotechnology with the new active ingredients enhances the efficacy of cosmeceutical products is one of innovative formulations and product solutions as pharmaceutical treatment for skin, therefore, the application of cosmeceuticals has considerably risen in recent years and the value growth of cosmeceutical products over the years has been impelled with positive changing consumer perception.
(Online source: https://www.youtube.com/watch?v=s4Dn8mjOi3k)
Opportunity: Analysis on the multi-billion dollar cosmeceutical market
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| Figure 1 |
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| Figure 2 |
From figure 1 & 2 which shown that he market size for general cosmetics projected to increase by 25% from 2012 to 2017 while cosmeceuticals will increase by more than 46% from 2012 to 2017 reaching $47 billion, making cosmeceuticals one of the most dynamic sectors within the cosmetics and personal care markets.
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| Figure 3 |
The desire to maintain a youthful image combined with the affluent women population in these countries and rising employment rate amongst women segment of the population, the future of cosmeceutical products in an emerging global market is likely to showcase favorable growth.
The cosmeceutical industry is based on the development and marketing of products that lie between cosmetics and pharmaceuticals. Today, there are over 400 suppliers and manufacturers of cosmeceutical products, and the industry is estimated to grow by 7.4% by 2012.
According to the article “Nanoparticles found in 10 top brand cosmetics” (Dec 2009) has found nanoparticles in foundations and concealers sold by 10 top name brands including Clinique, Clarins, L’Oréal, Revlon, The Body Shop, Max Factor, Lancôme Paris, By Terry, Yves Saint Laurent and Christian Dior.
• Concealers, foundations and mineral foundations sold by 8 leading brands contained particles measuring less than 100nm in size (Clinique, Clarins, L’Oréal, Revlon, The Body Shop, Max Factor, Lancôme Paris and By Terry)
• A further 2 products contained particles that measured 100nm (Yves Saint Laurent and Christian Dior)
Cosmetic industries rank high among the nanotechnology patent holders in U.S.; L'Oreal which devotes about $600 million of its annual $17 billion revenues to research is the industry leader on nanopatents. There would be great business potential for various cosmetic giants to develop cosmetics with science behind the use of nanotechnology.
Pitfall in the adoption of nanotechnology in skin care industry
The use of nanomaterials in cosmetic dermatology is the subject of
- Growing public concerns around the health and environmental risks of using nano-ingredients in sunscreen and cosmetics.
- Keen discussions on the safety of nanomaterials in cosmetic dermatology indicates that some risks are inevitable, although conventional toxicological methodologies are not adequate to assess their safety
- The leader of CSIRO’s Nanosafety group has warned that in a worst-case scenario, nano-ingredients in sunscreens could cause skin cancer
- Efforts to establish fundamental rules for use of nanotechnology in skin care product
- Risk assessment are ongoing throughout universities, government laboratories and industry
- The need for legislation that includes a more comprehensive science-based definition of nanomaterials, together with a clear assignment of liability to producers and employers arising from the use of nanomaterials, through all routes of exposure (such as inhalation and the skin)
- Promotion on integrated, safe and responsible nanoscience and nanotechnology research for the benefit of society as a whole
- labelling clear ingredients that people can have their choice to opt for nano-free skin care product
Who is this French Beauty Giant?
L’Oreal is a well-known French cosmetics and beauty company founded by scientist Eugene Schueller in 1909. The group owns 32 international brands, and sells products to customers in 130 countries with a revenue of EUR 23 billion in year 2013.
The group upholds its vision – “Together we will make beauty sustainable. Together we will make sustainability beautiful”. To accomplish this ultimate goal, all members implement its mission - “Provide the best in cosmetics innovation to everyone around the world” by leveraging its expertise in innovation and strategic acquisition to offer the best cosmetics to its customers all over the world. According to S. Kaplan, incremental innovation can help drive differentiation for mature technologies and it is important to sustain revenue growth involving the creation of disruptive innovation creating new-to-the world customer value (Kaplan, 2007). Thus, the L’Oreal Group has been devoting itself to innovation and it has committed a significant expenditure of EUR 761 million in R&D and registered 501 patents in 2014.
Norm of Innovation:
The Dynasty of Acquisitions
The beauty giant owns as many as 32 international brands as of 2014, but only 3 of them were created by L’Oreal itself (L’Oreal 2013). This strategic approach has successfully expanded its boundaries of expertise, diversified the group’s portfolio, enriched its customer base, and captured revenues for its sustainable growth. As a usual practice, the acquired companies would be managed by its original CEO but included as part of the L’Oreal’s network of international research and innovation. This practice enables individual members to maintain freedom and discretion to innovate whilst aiming at the same goal with all other L’Oreal group members. The acquisition of “Coloright” – an Isreali company specializing in fibre optical reader technology in 2014 is an example.
L’Oreal’s Strategic Acquisition since 1960’s
(Source: http://magazine.loreal-finance.com/en/how-loreal-enriches-and-completes-its-brand-portfolio.htm)
3D Prining and Fermentation for L’Oreal?
To secure its leading market position, L’Oreal has adopted a proactive attitude towards emerging technology. It started its collaboration with Organovo – a 3D bioprinting for the development of bioprinted skin tissue for the toxicity testing of skincare products since October 2014 (Utroske, 2014); furthermore, its R&D partnership with Evolva – company specializing in fermentation technology, starting from February 2014 will enable the development of yeast strain as a cost-effective cosmetics ingredients (Evolva, 2015).
The pioneer of nanotechnology
Nanotechnology is praised to be the future of cosmetics industry, and L’Oreal’s as the trendsetter has been devoting itself to scientific research and prides itself as the pioneer in the area of nanotechnology development - it is a founding member of International Council on Nanotechnology and participant of the NANOINTERACT Project of the European Union studying the interactions between nanotechnologies and human living world (L’Oreal – Sustainability Factsheet, 2010).
L’Oreal’s budget allocated to research and innovation has been significantly increasing from EUR 680 million in 2012 to EUR 761 million in 2014. With its strategic planning and positioning in the research and innovation expertise, the group has successfully registered 551 patents in 2012, 564 in 2013 and 501 in 2014.
To ensure product safety, the L’Oreal Group has been using cosmeto-vigilance – a cosmetic-testing system since 1970. To nurture the development and accelerate the application of the emerging technology, satellite production facilities and equipment have been installed, and an experimental model of eco-toxicity was developed by L’Oreal to test nanomaterial.
With the tremendous efforts of its research and innovation team in collaborating its basic scientific research together with the emerging nanotechnology, L’Oreal introduced its first nanoproduct – an anti-winkle cream in 1998 (Kaur and Agrawal, 2007). The nanotechnology allows the vitamin A to be stored in a 200-nanometer capsule and released when the outer shell dissolves under user’s skin (Paull 2003). Till 2006, the industry leader ranked 6th in nanotechnology patents holders in the U.S.
Commercial for L’Oreal Revitalift (nanosome tech)
(Online source: https://www.youtube.com/watch?v=dZoOqMpipXk)
True or false?
Cosmetics industry is built and developed on the fundamental of innovation, and sustainable innovation is the crucial element determining the success of each industry player. But does it mean that L’Oreal has adopted the perfect strategic approach?
L’Oreal’s core competence can be identified through value chain analysis and resource-based view:
It is realized that core competence of the L’Oreal Group lies on its capability in “strategic acquisition and management of international cosmetic brands” and “innovaion and emerging innovation management”. L’Oreal’s strategic approach in acquisition and deligation in innovation equips the beauty group with sustainable competitive advantages and sustains business growth.
New value and new market, what’s more? The perfect strategic approach!
L’Oreal’s first-ever nanoproduct debuting in 1998 successfully captured the market for anti-aging product as the newly created value performed better in ways that mainstream customers already valued. The open mindedness and all-about innovation approach allow the beauty giant in identify new value through its engagement in the diversified laboratory test collaborating its existing technologies with the emerging nanotechnology – L’Oreal’s first nanoproduct was launched after experimenting 350 formulas and testing for more than 2,500 times.
With its strategic approach, the L’Oreal group is confident in responding to the needs of diversified markets. There are 18 research centers worldwide being organized into 6 poles in Europe, U.S., Japan, China, India and Brazil. It allows the beauty group to stay closer with its customers, understand their needs and identify unexplored markets. L’Oreal has announced its ambition to add another 1 billion new customers to its existing patron base by the year 2020.
Conclusion
It's a world of hopes but also a world of fears ~
Cosmetics industry always welcomes emerging technology-based ideas like nanotechnology. In company point of view, its strong profitability might sometimes cover the dark side of its adoption. Critical to the success of nanotechnology cosmetics is consumer confidence in their safety. Echo to what Hove stated at the beginning, one more factor should be added in order to win the game.
Reference:
Alka Lohani, Anurag Verma, Himanshi Joshi, Niti Yadav,and Neha Karki (2014). Nanotechnology-Based Cosmeceuticals. In Alka Lohani et al.. Retrieved April 5, 2015 from http://www.nanoandme.org/nano-products/cosmetics-and-sunscreen/
S. Arora, J. M. Rajwade, and K. M. Paknikar, “Nanotoxicology and in vitro studies: the need of the hour,” Toxicology and Applied Pharmacology, vol. 258, no. 2, pp. 151–165, 2012.
Cosmetics & Personal Care, Nanotechnology Industries Association. Retrieved April 5, 2015 from http://www.nanowerk.com/nanotechnology-in-cosmetics.php
R. Dunford, A. Salinaro, L. Cai, et al., “Chemical oxidation and DNA damage catalysed by inorganic sunscreen ingredients,” FEBS Letters, vol. 418, pp. 87–90, 1997.
Evolva Holding SA.
(2015, January 08). Evolva and L’Oreal
reach first milestone in innovative cosmetics ingredient project. Retrieved
from
Hove, v. M. (2014, Jul 11). Transformation thruough strategy and innovation. Strategos. Retrieved from http://www.strategos.com/transformation-strategy-innovation/
Kaplan, S. (2007), “Innovation Lifecycles”, Innovation_Lifecycles/Режим доступу: pdf/innovation-point. com.
Kaur, I.P. &
Agrawal, R. (2007). Nanotechnology: A New Paradigm in Cosmeceuticals. Recent Patents on Drug Delivery &
Formulation. 1:171-182.
L’Oreal. (2013,
November 07). How L’Oreal enriches and completes its brand portfolio. Finance Mag. Retrieved from
L’Oreal. (2014,
December 17). L’Oreal announces the acquisition
of Coloright in Israel. Retrieved from
L’Oreal. (2014). Official Website. Retrieved from
L’Oreal. (2014). Registration Document 2014. Retrieved
from
http://www.loreal-finance.com/_docs/pdf/annual-report/2014/LOREAL_Registration_Document_2014_ENG.pdf
L’Oreal. (2014, March
12). Strategic Acquisitions. Finance Mag.
Retrieved from
L’Oreal. (2010, June). Sustainability Factsheet. Retrieved from
Marketandmarkets. Nanomaterials In Cosmetic And Personal Care Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast 2014 - 2020 [Abstract]. Retrieved from http://www.marketsandmarkets.com/PressReleases/cosmetic-products.asp
Nano in cosmetics and personal care, Retrieved April 5, 2015 from http://www.nanoandme.org/nano-products/cosmetics-and-sunscreen/
Nanoparticles found in 10 top brand cosmetics http://emergingtech.foe.org.au/nanoparticles-found-10-top-brand-cosmetics/
Nanotechnology in Cosmetics, Retrieved April 5, 2015 from http://www.nanowerk.com/nanotechnology-in-cosmetics.php
Paull, R. (2003,
December 29). The Top Ten Nanotech Products of 2003. Forbes. Retrieved from
Satell, G. (2013,
July 03). How to Manage Innovation. Forbes.
Retrieved from
Silpa Raj, Shoma Jose, U. S. Sumod, and M. Sabitha (Jul-Sept 2012). Nanotechnology in cosmetics: Opportunities and challenges. In J Pharm Bioallied Sci. . Retrieved April 5, 2015 from http://www.ncbi.nlm.nih.gov/pmc/articles/PMC3425166/#ref1
Size of Nanoscale, Retrieved April 5, 2015 from National Nanotechnology Initiative, Web site: http://www.nano.gov/nanotech-101/what/nano-size
K. Takeda, K.-I. Suzuki, A. Ishihara et al., “Nanoparticles transferred from pregnant mice to their offspring can damage the genital and cranial nerve systems,” Journal of Health Science, vol. 55, no. 1, pp. 95–102, 2009.
Team, T. (2015,
February 11). Luxury Cosmetics & Acquisitions To Fuel L’Oreal’s Q4 Sales;
But Economic Adversities A Concern. Forbes. Retrieved from
Utroske, D. (2014,
December 08). L’Oreal at work on bioprinted skin for cosmetics testing. Cosmetics Design.com. Retrieved from
Thank you very much for Team 14's hard working. Your team is always the early bird, the fastest one to finish and post your article. I really appreciate with your hard working. But I have some advices for your article:
回覆刪除1. It is better to cite some points and topics covered in the class lecture and readings, so that it is an efficient way to use what we learn in class into real story analysis.
2. Personally, I think it is a little bit largely discrptive For example, in the company part, I think discrptive part is more over than the analysis part. If your team can write more lessons and points you learn from the story will be perfect.
3. As you say L'Oreal's core competitivenss is "strategic acquisition and management of international cosmetic brands” not R&D ability, so investing in nanotechnology cosmetic products is not so "Strategic fit" in capture and take advantage of its resource and core competitiveness? But in the conculsion part, the conculsion points seems does not have close relationship with the former analysis.
Above all are my personal feeling. Thank you very much for your sharing let me learn new things. At last, I really appreciate your team's deligent, faster mover spirit. You can organize such a long story during such a short time is really admirable and it also shows your team's high quality collaboration and group relationship.
Hi 53232586 Prominent,
刪除Thank you so much for your valuable comments. We would like to respond to the points you have mentioned as follows:
1. When we did the writing, we had incorporated some key points that are referred to class readings. You may even find it at the beginning of the article~ In order to make the writing look more interesting and broaden our reader’s profile (we welcome anyone to read the blog, not just classmate and lecturers :>), our team applied a writing approach that will not state like ‘according to the lecture note…..’. Maybe it’s a bit hard for you to locate where it comes from but we believe that you may find it in our detail reference list.
2. First of all, we thought that you mean the article is a bit “descriptive”, right? ☺
According to lesson learnt about “formulating and implementing an innovation strategy”, we have to know more about industrial environment / impact and dig into a company’s external and internal analysis to verify the strategic fit. We used pictures to summarize those key points and some paragraphs to share our point of view with relevant citation. Otherwise, we thought that it is a bit hard for reader to get the full pictures. It will be helpful if you may let us know what kind of information and key points we have missed. We may try to fix it accordingly.
3. Please be clarified that we have never mentioned "strategic acquisition and management of international cosmetic brands” not R&D ability. Seems you missed the second point we stated in the content - “innovation and emerging innovation management”. This is talking about what is L’oreal strategic approach to support its R&D team to further strengthen the innovation competence. It will be great if you have time to re-read our introduction part, it stated 3 key factors that can assist a company to become more innovative and create a culture of continuous innovation that enables strategic renewal - Clear purpose of innovation or creativity, make it happens and stick in company. According to our team’s discussion, we agreed that L’oreal have achieved these three factors but the company should also pay attention to one more key factor which is safety concern arouse from the industry as well as the consumer. Of cos, it is an open question for all of us to discuss.
Hope the above may help you to know more our thinking and we are welcome further comments in future.
Have a nice weekend!
i-cathcer :>
Dear Team 14,
回覆刪除Like L'Oreal, the pioneer in R&D, you are the pioneer in doing assignment. Great! After reading your illustration of nanotechnology, I have got a detailed idea about that. Thank you very much.
Obviously, new technology is like double edge sword with glory and darkness. In your description of nano technology, it is crystal clear what nanotechnology has brought to research in cosmetic or skin care industry. While, my suggestion is that would you make tighter connection of industry and technology? When nanotechnology comes to be popular, the industry has reacted to it enthusiastically through selling new products with technology. For the whole industry, what is the reaction? From the policy perspective, does the industry launch some new rules? Can you add more details about the reaction of the industry for us? Then, when disadvantages of such technologies have been revealed, how this industry react to that is more interesting. Can you give us more information?
I hope these two links may be helpful:
http://web.ebscohost.com/bsi/pdfviewer/pdfviewer?sid=6d8dd36f-9f36-4545-9b9e-20f8bc4d619c%40sessionmgr113&vid=12&hid=107
http://web.ebscohost.com/bsi/pdfviewer/pdfviewer?sid=6d8dd36f-9f36-4545-9b9e-20f8bc4d619c%40sessionmgr113&vid=9&hid=107
Then, in the part about company, I have some questions. First, do you think the part without nanotechnology such as 3D printing or M&A is irrelevant? Is M&A shows that L'Oreal constructs an open organization culture for further research on products with nanotechnology? Or since it grows by M&A, it has so many brands. Thus, it can make trial on nanotechnology with just a few brands? In the 3D printing part, do you want to put that since L'Oreal is the pioneer in using 3 D printing, it is also a pioneer in using nanotechnology in its products? Such ways are pretty good in making inference, but you need to give us more connection among them.
刪除A third point is about the impact that nanotechnology has influenced the strategy. I think the following two articles can be useful for you:
回覆刪除http://web.ebscohost.com/bsi/detail/detail?vid=15&sid=6d8dd36f-9f36-4545-9b9e-20f8bc4d619c%40sessionmgr113&hid=107&bdata=JnNpdGU9YnNpLWxpdmU%3d#db=bth&AN=8595727
http://web.ebscohost.com/bsi/detail/detail?vid=16&sid=6d8dd36f-9f36-4545-9b9e-20f8bc4d619c%40sessionmgr113&hid=4206&bdata=JnNpdGU9YnNpLWxpdmU%3d#db=bth&AN=19869098
Hi Joy(53189506),
刪除Thank you so much for your valuable comment and advices. We are adjusting the content of our blog and we try to address the mentioned points in coming revised version. Stay tuned ^.^
Best,
i-catcher
Originality and Aesthetics:
回覆刪除Nice broad coverage of the topics, and innovative cross fertilizations of ideas across, but there are parts that can be done with better integration. For example, are there ways to link the use of 3D printing better with nano technology, especially from the less of process innovation, as well as acquisition of knowledge, patents, and know-hows, as a strategic approach, and embed it to the thesis of continual learning and culture of renewal? What does it reveal about the nature, role, function, uses, combination, and strategic element of technology itself?
Sophistication and Provocation: I like this part about the unintended consequence of technology: “Despite the great enhancement of nanotechnologies, potential unintended consequences to human health and the environment are yet to be studied and discovered.” You might want to further analyze the role, impact that technology plays in the innovation process and on the human condition in general, especially when the effect AND use of the technology is untended.
Support and Evidence:
回覆刪除Nice understanding of the global market, especially on its rising trend. See if you can tie the global market analysis to the application, use, and product or process innovation done with the nono-technology. In particular, if you can tie it to the strategic approach of Loreale on the continuous innovation and learning and culture of strategic renewal? What about the nature of nanotechnology itself cannot be easily adopted and needs continuous updating to have nice innovative results?
Especially on the process innovation, which is implied but not made explicit yet with further elaboration, explanation, and linking connections. What about the global market that is informative about the market differentiation as well as process innovation? For example, are there evidences of trends about which demographics are most open or receptive to nanotechnology? Which ones are most resistant? Which groups are most persistent about staying green and using bio ingredients? Are there ways to combine natural ingredients with the nanotechnology that makes more groups happy?
Mastery and Understanding: I like how clearly you explained the application and customized application of the nanotechnology in the skin care industry: “Nanotechnology brings the possibility to tailor the essential structures of materials at the nanoscale for achieving specific functions.” However, there are parts that are too descriptive and are taking up prescious parts where you engage in more analysis. See if you can sift through the cut some irrelevant details and allow your central thesis to surface more saliently?
Coherence and Clarity: Nice thesis in the introduction to prove with your industry analysis: “to transform the company to become more innovative and create a culture of continuous innovation that enables strategic renewal - Clear purpose of innovation or creativity, make it happens and stick in company are the key factors to become the champion in this keen competitive industry.”
Zulfiqar Ali 53675601
回覆刪除Nice and fruitful effort ..
Well versed and structural thesis to investigate and predict the role nano technology in cosmetics and body applicant. I totally agree with the above comment over
Coherence and clarity of information.
On the other the point I want to raise for further discuss is that you could have explain more about the safety concerns of Nano technology in body applicants.
People are more concern and have fear about the the safety of nano-particles throughout their various applications in cosmetics because nano-particles have the potential to be more reactive than their larger counterparts. One of the largest fears is that nano-particles could penetrate below the skin and accumulate in other tissues or organs and induce toxicity. There is also concern that nano-particles could contaminate water and thereby harm the environment.
Therefore how this emerging market and industry is going tackle these issues ??
Thanks Team 14's efforts on the study!
回覆刪除I've gained a lot of insight into the nanotechnology here, as one of the numerous disruptive technologies to the cosmetic or cosmeceutical industry.
A successful story of L’Oreal in the adoption of the latest technology to its business, at least so far it is successful. From the information above, there is no evidence that the nanotechnology is harmful to human skin.
However, as a consumer's perspective, i believe not a lot of people who know a lot of information about the technology and what downside risks for them to consume. Thus, i assume every cosmetic company should take the social responsibility into account like the food industry before they produce and promote product to the market.
At least, industry players should have a 100% sure or high confident that the product should not be harmful to human. It is particularly sensitive as people will directly apply those product onto their skin.
I appreciate and look forward that this technology can be prove that it is beneficial to people in the near future. The story shows that probably not all technology can be beneficial to people and can be beneficially apply to each industry. This requires carefully critical thinking as well as R&D.
Although we always hear the term "Nano technology" nowadays, I can get more idea about this after reading this assignment. Thanks. As mentioned in the above comments, consumers care about the product effectiveness and its safeness at the same time. Especially there are emerging unexpected and even incurable diseases, consumers may hesitate if they know the downside of the product. To resolve, it is better to disclose comprehensive safety issue for consumer to judge.
回覆刪除For the 3D printing part, I think the aim to show how L'Oreal being the pioneer and willing to spend on R&D? But it is written into separate part now and reader may doubt its relevance to the topic "Nano". It may better be emerged into the part of introducing L'Oreal rather than giving it a subtitle.
All in all, thanks for the detail research on this topic.
Thank you for choosing this industry since it helps me know more about cosmetics now!
回覆刪除First of all, you have mentioned the sales of nano-cosmetics have been rising for the past few years and foresee it will be rising in the next few years as well. However, you did not mention how much more expensive to a person when using nano products than traditional cosmetics. The reaction of public to this new technology seems missing in your analysis.
Secondly, I think a responsible and reputable cosmetics manufacturer should ensure their products are harm-free. In this case, L'Oreal just proved that their nano products are eco friendly. This does not mean their products do not cause harm to humans, Although the sales are high, there are still some unseen factors.
Thank you for choosing this topic!