NATURAL INGREDIENTS FOR COSMETICS CBI PRODUCT SURVEY: THE EU MARKET FOR EXOTIC VEGETABLE OILS FOR COSMETICS

Natural ingredients for cosmetics The EU market for exotic vegetable oils for cosmetics
Publication date: September, 2009
Report summary This CBI market survey discusses the following highlights for the EU market for exotic vegetable oils for cosmetics: Industrial demand for exotic vegetable oils and fats by the cosmetic industry is growing continuously. Not only are cosmetics companies demanding higher quantities of the already available exotic oils, they are also looking for new varieties. Opportunities are especially interesting for organic, FairTrade or otherwise certified exotic vegetable oils and fats. Most exotic oils and fats are imported as crude and further processed in the EU. However, a large share of the shea butter is produced in the EU and, therefore, the EU, in particular The Netherlands, imports large quantities of shea nuts. Crude exotic vegetable oils and fats and shea nuts are mainly imported from developing countries. Intra-EU imports mainly concern further processed exotic oils and fats. Generally trade channels for exotic vegetable oils and fats tend to be short, especially when relatively bigger EU companies are involved. They often work together with the producers to support them in meeting the quality standards. In case trade concerns smaller EU companies, more intermediates are involved, making the supply chain longer. This survey aims to provide developing-country exporters of exotic vegetable oils and fats with product-specific market information. By focusing on the EU market(s) for one product(group), this document provides additional in-depth information, complementary to the more general information and data provided in the CBI survey Natural ingredients for cosmetics in the EU, which can be downloaded from http://www.cbi.eu/marketinfo. Detailed information on the selected product(group) is given in appendix A. This survey discusses the EU in general and the following markets in particular: Germany, France, the United Kingdom, and The Netherlands. 1 Market description: industrial demand and production

This chapter will describe the dynamics of the market for exotic vegetable oils and fats in general, and will focus more specifically on the following products: apricot kernel oil, argan oil, babassu oil, baobab oil, cupuacu butter, moringa oil, papaya seed oil and shea butter. These are examples of exotic oils in more common use. There is a general lack of published data for exotic vegetable oils and fats. Therefore, the information presented here is mostly qualitative. Most of the data concerns rough estimates or is based on older sources. These data should therefore be cautiously interpreted and should be used together with qualitative information solely as an indication of the current market. Industrial demand The total cosmetics market in the EU amounted to almost 68 billion in 2008 at retail sales prices. After some years of growth between 2005 and 2007, growth stagnated and the cosmetics market even contracted somewhat. The market for natural cosmetics is growing strongly, by 14% in 2008. Nevertheless, its size is still limited. In some countries like Germany and Austria, natural cosmetics have a market share of 5%, while in many other countries this share is just around 2%. However, increasingly many large producers of conventional products launch a cosmetic product with natural claims, because it contains some natural ingredients. Driven by enlarged demand for natural and high-end ingredients and an increased understanding of their functional properties, the use of specialty oils in cosmetics and personal

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NATURAL INGREDIENTS FOR COSMETICS CBI PRODUCT SURVEY: THE EU MARKET FOR EXOTIC VEGETABLE OILS FOR COSMETICS care products has expanded substantially. In cosmetics, they are mainly used as a moisturizer or emollient, but they can also be used as humectants, solvents and carriers, conditioners, water barriers and softeners for many products. In 2005, the amount of vegetable oils and fats used in the global personal care/cosmetics industry was estimated at 10,000 tonnes or more. Demand for exotic vegetable oils and fats was estimated at a few thousand tonnes per year. Both the use of vegetable oils and fats in general and the exotics has increased strongly, since 2005. There are two main reasons to include exotic oils in personal care products and cosmetics. First, in order to differentiate from the competition, cosmetics producers are developing unique, unusual products containing exotic ingredients, to increase marketing opportunities. Many cosmetics and personal care products are marketed with additions claims such as exotic, tropical, Amazon, rainforest, Fair Trade etc. If used to support marketing claims, the amounts used are generally quite small. Besides marketing claims, some exotic vegetable oils and fats have specific functional and active properties. If used as functional or active ingredients, the quantities used are generally higher. Industrial demand for exotic vegetable oils is expected to continue growing. Companies continue to develop new products and search for new ingredients. However, strict EU regulation, such as REACH, makes it difficult to introduce new ingredients on the EU market. Vegetable oils are exempt from REACH, if not classified as dangerous. This provides great innovating opportunities for cosmetics manufacturers to use new exotic vegetable oils and fats. Therefore, the cosmetics industry not only demands more in terms of volume, but also in terms of varieties. As legislation on novel foods decreases the chances of new oils being successfully introduced as a food ingredient, the cosmetic sector offers greater opportunities. The number of exotic vegetable oils and fats for use in cosmetics on the EU market is growing continuously. The economic downturn has its effect on the demand for exotic vegetable oils and fats, however not as severe as the impact on other sectors. Exotic vegetable oils are mostly used in skin care products and, according to Euromonitor International, skin care products hold up the best, compared to other products. Hair care, colour cosmetics and fragrances on the other hand, do lose out, but the quantities of exotic vegetable oils and fats used in them are much smaller. Due to insecurity on the market, companies are purchasing ingredients more carefully and are running down stocks first. Also, some companies invest less in product development. At the same time, other companies see developing new products as a good strategy in times of crisis. Industry sources have indicated that the effects of the downturn mostly concern lower growth rates in the demand for exotic oils and fats, but no negative growth rates. Industry sources expect that demand will start expanding again soon. Main target markets There are 4 EU markets of significance for exotic vegetable oils and fats: Germany, France, the UK and The Netherlands. Germany Germany is the largest market for cosmetics in the EU, as well as the largest and most advanced EU market for natural cosmetics. Products containing natural ingredients have been widely adopted by multinationals and these natural products have become mainstream. In general, Germans have a strong desire for specialty products. Behind France, Germany is the second largest producer of cosmetics products, with production amounting to 4.5 billion in 2007. To distinguish themselves from the competition producers are looking for opportunities to add value by using organic, Fair Trade and specialty oils and fats. Besides being a large cosmetics producer and processor of vegetable oils and fats, Germany, and especially the city

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NATURAL INGREDIENTS FOR COSMETICS CBI PRODUCT SURVEY: THE EU MARKET FOR EXOTIC VEGETABLE OILS FOR COSMETICS of Hamburg, plays an important role in the trade of vegetable oils and fats. This has boosted demand for exotic vegetable oils and fats as well as the demand for the organic versions. France The French market is the second largest EU market for cosmetics and is characterized by a very high proportion of premium products, driven by innovation. The skin care segment is where natural product innovation is most dynamic. Growth in the cosmetics industry stems from strongly increased interest in organic products, but also heavily relies on the dynamics in foreign markets. France is a frontrunner in the field of Fair Trade cosmetics. Increasing demand for natural ingredients mainly consists of foreign and specialty ingredients. France is considered to be the most innovative market concerning the use of new exotic vegetable oils, while Germany and the UK are slightly more reserved. Increased demand for exotic oils and fats stems for an important part from the production of shampoos, skin care products and massage oils. UK The UK is the third largest market for cosmetics, with a market share of 5% for natural cosmetics. The UK also being a major producer of cosmetics, there is a large extraction industry and the UK increasingly plays an important role as a distributor of natural ingredients. Therefore, the demand for natural ingredients is considerable and increasing rapidly, especially for organic products. The UK also has a special interest and processing capacity for exotic ingredients (Cosmetics Design 2007), which is fuelling demand for exotic vegetable oils and fats. Several processors are able to process very small quantities of oils. Being important distributors, UK traders and processors also benefit from the increased interest in exotic vegetable oils and fats elsewhere in the EU. Although late compared to France, the UK introduced the first FairTrade certified cosmetics in 2009. Since the UK is the second largest Fair Trade market in the world, FairTrade cosmetics are expected to become very successful. This will also increase the demand for Fair Trade exotic oils and fats. Moreover, industry sources also indicate strong demand for exotic oils and fats which are both organic and FairTrade certified. The Netherlands Although the cosmetics market in The Netherlands is quite mature, the size of the cosmetics industry is limited. It accounts for only 4% of the total EU cosmetics market. However, The Netherlands has a large processing industry and is an important international trade hub for natural ingredients, especially for vegetable oils and fats. The port of Rotterdam plays a key role in this. The Netherlands is the leading EU processor and trader of exotic vegetable oils and fats, fuelling demand for these oils and fats. The Netherlands is the largest producer of cocoa butter in the world and also plays an important role in processing shea nuts and refining shea butter. Main products Of the exotic vegetable oils and fats selected for this survey, apricot kernel oil and shea butter are well known and commonly used in the cosmetics sector. The other products are relatively new and used less often. However, there are a lot of other exotic vegetable oils and fats which can be of interest. A list of potential interesting exotic vegetable oils and fats is presented in Appendix B. Shea butter Shea butter is the most widely used exotic vegetable fat in the industry. It has been on the market for quite some years. Shea butter is valued for its exceptional moisturizing properties and is traditionally believed to have benefits in scar reduction and protection from UV light. Its very high content of omega-3 and omega-9 fatty acids adds marketing arguments for cosmetic manufacturers, as omega-3 and omega-9 are very popular among consumers.

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NATURAL INGREDIENTS FOR COSMETICS CBI PRODUCT SURVEY: THE EU MARKET FOR EXOTIC VEGETABLE OILS FOR COSMETICS According to the Uganda Export Promotion Board, global demand for shea nuts increased steadily, by an average annual rate of over 11% between 2003 and 2006. In 2006, global demand reached 239 million. The nuts are processed and the shea butter produced is mainly used as cocoa butter substitute. According to Sekaf Ghana Ltd, 95% of the global shea butter demand comes from the food industry. Only 5% of the global shea butter demand is currently used for cosmetics and pharmaceuticals. Industry sources indicate that this share might even be smaller than 5%. Nevertheless, shea butter is the most widely used exotic vegetable fat in the cosmetics industry. The EU is the largest market for shea butter for cosmetic industries. Although shea butter is already well established in the EU cosmetics market, industrial demand is increasing continuously. Latest available data are from 2005. According to research company LMC International, EU-15 imports of shea nuts amounted to 85 thousand tonnes and shea butter imports amounted to just over 15 thousand tonnes. Agricultural research centre CIRAD estimated that in 2008 total shea nut exports from Africa had grown to 150 thousand tonnes and 20.5 million ($ 30 million). This was processed in the EU and India to 18 thousand tonnes of shea butter, with an estimated value of 24.6 million ($ 36 million). EU demand for shea nuts mainly concerns the West African variety of shea. Demand for the more expensive East African variety is limited. The Netherlands plays an important role in the trade and processing of shea nuts and shea butter. Many international companies have processing facilities in The Netherlands. Strong demand also comes from companies primarily based in Denmark, Sweden and the UK. Refining companies in particular represent a significant market for shea. In Denmark and Sweden, this mostly concerns demand from AAK, one of the worlds leading manufacturers of high valueadded speciality vegetable oils and fats. However, it also has a processing facility in The Netherlands. In the UK, there are many different companies demanding shea butter. The UK market is estimated at around 5 thousand tonnes and increases every year, as shea butter is increasingly replacing cocoa butter as a cosmetic ingredient. The German market is also estimated to be around 5 thousand tonnes. Industrial demand in France is picking up and shea butter is becoming increasingly popular as an ingredient for cosmetics. Although France lagged slightly, at the moment there is great interest in shea butter and industrial demand from the cosmetics industry is picking up. Especially the use of shea butter in shampoos is rising fast, as well as the use in massage oils and body lotions. Apricot kernel oil For years, apricot kernel oil has been used as replacement for almond oil, as it has more or less the same properties and is much cheaper. The UK and Germany are the largest markets for apricot kernel, as well as for organic apricot kernel oil, which is estimated at 500 tonnes each. The French market for apricot kernel oil is relatively small, only around 100 tonnes. Cupuacu butter Cupuacu butter has been on the EU market for roughly 5 to 7 years now and demand is growing rapidly. It has a very high content of omega fatty acids and is abundant in antioxidizing polyphenols. It is claimed to be more effective than shea butter in terms of moisturising and moisture retention. The main problem for the further development of the market is that supply is limited. Argan oil The EU is by far the largest market for Argan oil, accounting for a market share of around 70%, estimated at around 270 tonnes, and is increasing fast. Demand exceeds supply, mainly because of a shortage of raw material in Morocco, resulting in high prices for argan oil. The largest EU market for argan oil is the French cosmetics industry, although other EU markets are also picking up. The French cosmetics industry is responsible for the largest share of industrial demand. Demand especially increased from companies producing shampoos, massage oils and body lotions. In France, the argan oil is refined and around 50% is reexported, mainly to Germany and Italy. Argan refining has been growing very fast. An

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NATURAL INGREDIENTS FOR COSMETICS CBI PRODUCT SURVEY: THE EU MARKET FOR EXOTIC VEGETABLE OILS FOR COSMETICS important argan refining company in France indicated that its refining of virgin argan oil increased from 20 tonnes 5 years ago to 150 tonnes now. Argan is increasingly being used as a novel food ingredient, which leads to increased demand for argan, driving up prices. Expectations for argan oil are that the market will continue to increase in the next 5 years, if Moroccan producers are able to supply enough raw materials. However, the popularity of argan oil can drop if other ingredients successfully hit the market and argan could lose both its marketing value and a lot of industrial demand. Babassu oil Babassu oil used to be one of the more widely used exotic oils some years ago. It is used as a substitute for coconut oil, however, it is relatively expensive. Therefore, industrial demand is fading somewhat. Most demand comes from The Netherlands, where it is further processed. Industrial demand in The Netherlands is roughly estimated at 200 tonnes. Baobab oil Baobab is part of a growing number of super fruits used in cosmetics. Its oil has moisturizing properties and power to add shine to hair care products. For that reason, research company Mintell expects that the use of Baobab will grow. Industry sources also indicate that demand for baobab oil is finally picking up and has lots of potential, especially as an additional source of income for producers who are also producing baobab fruit pulp. Up till now, baobab oil is mainly applied in products for marketing purposes. Moringa oil Moringa oil is an other exotic oil identified to have plenty of potential. The EU market for moringa oil is heavily influenced by the patent of a US company on cosmetic compositions containing moringa oil. Therefore EU companies are reserved in using moringa oil. Nevertheless, industry sources indicate there is great potential for moringa oil. Papaya seed oil The market for papaya seeds oil is still small, but is expected to grow fast in line with the trend of using fruit ingredients in cosmetics. It especially has a lot of potential as side activity, because it is too expensive to use only the papaya seed oil. New exotic vegetable oils and fats The market for exotic vegetable oils and fats is characterized by the introduction of new varieties. However, as discussed above, not all products are received with the same enthusiasm and it might take some time before a product is picked up by the industry, if picked up at all. It happens that, when a new exotic oil or fat is picked up by only one buyer, the supplier becomes over-confident and starts producing more of the product. This leads to overproduction since there is no market for the product yet, which in turn leads to price decreases. These lower prices attract new buyers. However, when the stocks from overproduction are finished, the supplier cannot offer his product at that low price anymore. The buyers who were used to the low prices will not accept the higher prices and will replace the new product by another product. This way, the supplier kills his own market. Therefore, it is of crucial importance that new exotic vegetable oils and fats are well marketed, for example at EU trade fairs. However, if a market is created and demand for the new exotic oil increases, suppliers must be able to increase their production capacity, to assure sustainable trade. For more information on introducing new cosmetics ingredients, please refer to the CBI EU market survey for natural ingredients for cosmetics (mainly chapter 2).

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NATURAL INGREDIENTS FOR COSMETICS CBI PRODUCT SURVEY: THE EU MARKET FOR EXOTIC VEGETABLE OILS FOR COSMETICS Market segments The market for exotic vegetable oils and fats can be segmented in several ways. Processing industry and end-product manufacturers The processing industry imports nuts and virgin exotic oils which will be crushed, refined and further processed into oils ready to be used by end-product manufacturers. These cosmetics manufacturers require a much higher level of processing. Most conventional cosmetics companies prefer to use refined oils and fats, instead of the unrefined oils and fats. Within the segment of end-product manufacturers, another division can be made, according to the specific properties of the exotic oils. The EU cosmetics sector as a whole is divided into 5 sub-sectors: fragrances/perfumes (15%), decorative cosmetics (12%), skin care (26%), hair care (22%) and toiletries (24%). The exotic oils and fats selected in this survey are mostly used in the skin care and hair care sub-sectors. Table 1.1 Main cosmetic uses of selected exotic vegetable oils and fats Argan oil Skin care, hair care Baobab oil Skin care, hair care Babassu oil Skin care, hair care, toiletries, decorative cosmetics Capuacu butter Skin care, hair care, toiletries Moringa oil Hair care, toiletries Papaya seed oil Skin care Shea butter Skin care, hair care
Industry sources

Conventional/natural/organic/Fair Trade Exotic vegetable oils and fats are used by conventional cosmetics companies, mostly as a marketing argument in higher priced cosmetic products, as well as by companies which produce natural cosmetics. Exotic oils and fats are also suitable for organic and Fair Trade cosmetics; however, the appropriate certification should be in place. Increasingly, these markets become related. This will be further discussed in the next paragraph. Besides the more obvious cosmetic applications, exotic vegetable oils and fats are also very popular in the cosmeceutical industry, more specifically in anti-aging cosmeceuticals. Trends in industrial demand Many trends in the cosmetics and cosmetic ingredients sector also influence the market for exotic vegetable oils and fats. This paragraph explains only how these trends relate to the exotic oils and fats market. For more information on the general trends, see CBIs market survey The natural ingredients for cosmetics market in the EU. Skin care, anti-ageing, omega fatty acids and anti-oxidant Skin care is the sector within cosmetics least affected by the economic downturn and identified as one of the key sectors for the coming years. The amount of natural ingredients in skin care formulations is also increasing steadily. Furthermore, within the skin care sector, anti-aging products and anti-oxidant ingredients are booming. As exotic vegetable oils and fats are mostly used in skin care products, these developments contribute to the demand for exotic vegetable oils and fats, especially those with anti-oxidant properties. Natural cosmetics The most important trend that is influencing the market for exotic vegetable oils and fats is the trend towards the use of natural cosmetics. Driven by continuous expanding consumer demand for natural ingredients as well as increased distribution, this segment has been growing steadily, with revenues doubling every few years. Within the EU, Germany and the UK are the largest markets for natural cosmetics.

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NATURAL INGREDIENTS FOR COSMETICS CBI PRODUCT SURVEY: THE EU MARKET FOR EXOTIC VEGETABLE OILS FOR COSMETICS Industrial demand for exotic vegetable oils and fats traditionally comes from the natural and organic cosmetics industry. But, since large conventional companies are also moving towards natural product lines, demand will increasingly come from them as well. More and more mineral oils, synthetic ingredients and animal- derived fatty compounds are replaced by vegetable oils. Consumers are becoming far more averse to chemical, synthetic and animalbased products, and increasingly demand natural substitutes. At the same time, industry sources indicate that the statement made with vegetable oils has no marketing significance anymore, as consumers expect nothing less. In order to differentiate themselves from competition and add value in another way, companies increasingly search for new exotic vegetable oils and fats. Fruit oils Even though fruit ingredients are already a mainstay in the cosmetics market, the importance of fruits in general, and exotic fruit oils in particular, continues to increase in the cosmetics market. Apricot kernel oil is a good example, but also pomegranate seed oil, peach kernel oil, mango kernel oil, papaya seed oil and baobab oil. Organic, Fair-Trade, sustainable sourcing Natural products/ingredients are not necessarily organic. However, consumers increasingly ask for organically certified products, which drives the demand for organic ingredients rapidly upwards. This trend is also clearly visible for exotic vegetable oils and fats. Industry sources have indicated that, although still small, the market for organic certified vegetable oils and fats is even growing faster than the conventional market. Many EU companies now offer conventional as well as organic exotic vegetable oils and fats. Ethical trading and sustainable sourcing is also becoming more important. The market for Fair Trade cosmetics is taking off, especially in France and, more recently, in the UK. The amount of Fair Trade certified ingredients is also increasing, often in combination with natural or organic labels. There is an increasing number of Fair Trade exotic vegetable oils and fats available and industry sources indicate that there is strong demand for products which are Fair Trade as well as organic certified. Of particular interest can be the Fairtrade Labelling Organisation (FLO), as well as the FairWild Foundation, which offers certification based on organic and Fair Trade principles for wild-collected natural ingredients. Also, the Fair for Life programme of the Institute for Marketecology (IMO) offers certification for social accountability and Fair Trade in agricultural, manufacturing and trading operations; it also includes environmental criteria. Furthermore, the Forest Stewardship Council (FSC) and FLO are developing a dual certification model to distinguish community-produced forest products in the marketplace. The conventional cosmetics industry is furthermore discovering that it can be very profitable to work with some, for example, Fair Trade ingredients. A producer benefit story (in this case a fair price and fair labour conditions) is an excellent marketing tool. Mergers and acquisitions Mergers and acquisitions in the cosmetics industry continue to influence the market. Large cosmetic companies, as well as private investors, private equity firms and venture capital firms, are looking for investment opportunities in natural and organic cosmetic companies. A good example of this was the acquiring of the Body Shop and Sanoflore by LOreal. Organic cosmetics brands are increasingly introduced in, and by, mainstream retailers, while organic food companies are also developing natural and organic cosmetic product ranges. These dynamics spur new product development, as well as the demand for new natural and organic ingredients. Besides the classic kind of mergers, consolidation is now also sought in the merging of standards by certifying agencies (Cosmos standard) and by organic and natural cosmetics companies (NaTrue standard).

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NATURAL INGREDIENTS FOR COSMETICS CBI PRODUCT SURVEY: THE EU MARKET FOR EXOTIC VEGETABLE OILS FOR COSMETICS Production The EU does not produce any raw materials for exotic vegetable oils and fats. Furthermore, the pressing of oils is mostly done in the countries of origin. EU production mainly concerns the further refining of crude exotic oils and fats, to make them ready to use for cosmetics companies. The Netherlands is the largest processor of exotic vegetable oils and fats. The UK is specialized in the processing of the most special oils. Shea butter is the only exotic ingredient produced in the EU. The EU imports shea butter but also large quantities of shea nuts. Initial processing of shea nuts is mainly done in The Netherlands, where the shea nuts enter the EU through the port of Rotterdam. Major players in the processing of exotic vegetable oils and fats in Germany, France, the UK and The Netherlands are listed in section 2 of this survey. Trends in production Following the market trend towards natural and organic ingredients, processors of exotic vegetable oils and fats are also increasingly involved in certification schemes. Leading certifiers for natural cosmetics are BdiH (http://www.kontrollierte-naturkosmetik.de), Soil Association (http://www.soilassociation.org) and especially Ecocert (http://www.ecocert.com). Ecocert also plays a large role in certifying ingredients. Various initiatives exist with the aim of achieving an international standard of natural and organic standards. BdiH (Germany), Soil Association (UK), Ecocert (France), Cosmebio (France), ICEA (Italy) and Ecogarantie (Belgium) developed the Cosmos standard. Certification of the new Cosmos standard is expected to begin in September 2009. There has been much anticipation of this new natural & organic cosmetic standard, but Cosmos is believed to be losing impetus because of its lengthy gestation period. For more information on the Cosmos standard, please refer to http://www.cosmos-standard.org. NaTrue is a competing certification standard. NaTrue is an International Interest Grouping of Natural & Organic Cosmetics, manufacturers who aim to safeguard the highest possible standards for natural cosmetics and their ingredients. NaTrue has a uniform labelling scheme. The standard has three levels: organic, made with organic ingredients, and natural. Thus, certified products carry identical symbols, unlike Cosmos certified products. A further comparison between the different certification standards is presented by NaTrue; http://www.natrue.org/fileadmin/pdf/NaTrue_Comparative_Table_EN.pdf. Opportunities and threats + The industrial demand for exotic vegetable oils and fats from the cosmetics industry is growing continuously, in the EU in general as well as in the 4 most important countries discussed in this survey. Not only are they demanding higher quantities of the already available exotic oils, they are also looking for new varieties. Demand for most products exceeds supply by far, indicating that there is enough room for new suppliers. + Great opportunities can be found in the certified ingredients markets. These markets are very dynamic. Because these markets are much smaller than the conventional market, importers usually demand much smaller quantities, which makes it easier for small producers to supply. Also, if certification is in place, it allows suppliers to ask premium prices. The Fair Trade market also increasingly offers opportunities, and exotic vegetable oils and fats which have both labels or are certified in another way (i.e. Fairtrade, FairWild, Fair for Life, FSC) have good prospects. + Opportunities exist especially for new products with a history of use in the supplying country. Suppliers of new exotic vegetable oils and fats are advised to link up with local business support organisations, imports promotion organisations, like CBI or EU companies. This offers opportunities in effective marketing and market development, as well as

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NATURAL INGREDIENTS FOR COSMETICS CBI PRODUCT SURVEY: THE EU MARKET FOR EXOTIC VEGETABLE OILS FOR COSMETICS assistance in obtaining all the necessary documentation on traceability and safety and quality assurance. The continuous search for new ingredients by the cosmetics industry also means that some exotic vegetable oils and fats will be replaced easily when the hype around that particular product dies down and something new comes along.

It is important to note that an opportunity for a supplier in one developing country may sometimes be a threat to another. The information given should be assessed according to the reality of each supplier. For more information on opportunities and threats, please refer to Chapter 7 of the CBI EU market survey for natural ingredients for cosmetics. Useful sources Cosmetics design cosmetics news website http://www.cosmeticsdesign-europe.com Cosmetic News cosmetics news website http://www.cosmeticnews.com COSSMA innovative news magazine for cosmetics http://www.cossma.com Organic Monitor - research company that focuses on organic & related product industries http://www.organicmonitor.com 2 Trade channels for market entry

Trade channels Trade channels for exotic vegetable oils and fats generally tend to be short, especially when the EU companies involved concern the relatively bigger companies. Larger distributors/wholesalers, which have manufacturing facility, or processors source their products directly from DC producers. They often work together with the producers to support them in achieving the quality standards. The majority of exotic vegetable oils and fats produced in DCs is exported to the EU in crude/virgin form. The importer/processor will further refine the oils and fats and then sell them directly to the cosmetics manufacturers. In the case that trade concerns smaller EU companies, more intermediates (i.e. distributors without processing facility, agents and brokers) are involved, making the supply chain longer. For a general description of the different trade channels, see chapter 3 of the CBI market survey Natural ingredients for cosmetics in the EU. The distribution chain for shea butter can be slightly different. Some crude shea butter is imported; however, most of the shea butter is produced in the EU. Shea nuts are imported, mainly by The Netherlands where the initial processing/cold pressing takes place. The shea butter is then re-exported to processors or the cosmetics industry in other EU countries. Interesting players Germany Henry Lamotte Oils http://www.lamotte-oils.de - wide variety of conventional and organic vegetable oils and fats. Imperial Oel Import http://www.imperial-oel-import.de UK S&D Aroma http://www.sdaroma.com wide variety of natural and organic exotic vegetable oils and fats. Earthoil http://www.earthoil.com wide variety of organic and some non-certified exotic vegetable oils and fats, including some very small ones, like moringa oil, baobab oil and papaya seed oil. Solely supplier of organic and Fair-Trade shea butter. France Olvea - http://www.olvea.fr - wide variety of conventional and organic exotic vegetable oils and fats, largest supplier of argan oil.

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NATURAL INGREDIENTS FOR COSMETICS CBI PRODUCT SURVEY: THE EU MARKET FOR EXOTIC VEGETABLE OILS FOR COSMETICS Aldivia http://www.aldivia.com - wide variety of conventional and organic exotic vegetable oils and fats. Lab Serobiologiques - http://www.laboratoires-serobiologiques.com

The Netherlands ZOR http://www.zor.nl - wide variety of conventional and organic exotic vegetable oils and fats. Jan Dekker International - http://www.jandekker.com J.B. de Lange - http://www.de-lange.nl/ Many buyers prefer to stick with their existing suppliers, instead of investing in all the arrangements which are necessary to go into business with a new supplier. Only when you can offer the buyer a significantly better deal than your competitor, or when the buyer is looking to expand its business, will there be interest in entering a new trade relationship. Some interesting cosmetics companies which use exotic vegetable oils and fats are: The Body Shop and Lush (UK), Clarins and LOccitane (France) and Weleda and Dr. Hauschka (Germany). Price structure As is mentioned in the CBI survey The market for natural ingredients for cosmetics, the price difference between exotic vegetable oils and fats for cosmetics can fluctuate widely, depending on the raw material. The price level is influenced by: Quality factors: Determined by the country of origin, the climate, the crop, the concentration of the ingredients and the extraction method. Economic factors: Based on supply and demand. The supply depends on the size of the current crop; the carry-over from previous crops; stocks held by traders, processors and final users; the existence of substitutes and the price of commodity vegetable oils and fats. Certification: Organic and/or Fair Trade, FairWild, Fair for Life or other. Certification can have an influence on the price, with organically certified and wild collected products being sold at premium prices. The discussion on Fair Trade also raises the question of cost and price calculation for raw materials from wild collection and cultivation. Point in the supply chain: And length of the supply chain. Different prices and margins apply throughout the various trade channels, different prices and margins apply. Selecting a suitable trading partner Industry sources have indicated that they are constantly looking for new suppliers of exotic oils and fats and that trade fairs are the best way for suppliers and buyers to meet. Besides meeting potential buyers, it enables suppliers to bring samples, analyse how the sector is developing and look at what the competition is offering. DC suppliers who visit trade fairs are advised to bring some samples of the oils and fats they want to sell. EU ingredient companies can also be contacted directly by e-mail, explaining what kind of product they have to offer. It can also happen that buyers themselves find suppliers, through recommendations of someone else. It is therefore important to build up a network of people in the sector, even though they are not directly interested in buying the products offered. Another way to find buyers can be through websites which are market places where suppliers and buyers come together. The cosmetic suppliers guide (http://www.cosmeticsbusiness.com) and Europages (http://www.europages.com) are other good sources for finding contact details and information on the activities of importers and producers. The CTFA International Buyers Guide (http://www.ctfa-buyersguide.org) offers a specific site for cosmetic ingredients. Furthermore, http://www.ingridnet.com is a marketing instrument for companies supplying ingredients.

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NATURAL INGREDIENTS FOR COSMETICS CBI PRODUCT SURVEY: THE EU MARKET FOR EXOTIC VEGETABLE OILS FOR COSMETICS Developing-country exporters of organically grown products can get themselves listed as suppliers on websites like www.green-tradenet.de and www.greentrade.net. Suppliers can specify their offer and company name. 3 Trade: imports and exports

Imports Since there are no import data available for the individual products described in this survey, import data is given for the product group vegetable oils and fats, not elsewhere specified. Note that all exotic vegetable oils discussed here fall within this product group, except for babassu oil. Only imports from developing countries are discussed, as this provides a better estimate of imports of exotic vegetable oils. Since the plants and trees from which raw material for exotic vegetable oils and fats can be sourced do not grow in the EU, these need to be imported. Total EU imports of vegetable oils and fats, not elsewhere specified, amounted to 53 million and almost 55 thousand tonnes in 2008. However, in the case of exotic vegetable oils and fats it makes more sense to look only at the vegetable oils and fats, not elsewhere specified, directly imported from DCs. Imports directly from DCs amounted to 3.1 million and 3.3 thousand tonnes. In volume terms, imports increased considerably, by an average annual rate of 21% between 2006 and 2008. Although these data are a not very reliable estimate of total exotic vegetable oils and fats imports (excluding babassu oil), they do indicate the increased interest for non-commodity oils and fats from DCs. The lions share of the exotic vegetable oils and fats imported is not yet suitable to be used in the cosmetics industry. They are imported in crude form and then further processed in the EU. Moreover, shea nuts are often initially processed in the EU. The Netherlands imports a lot of shea nuts, from which the butter is extracted in The Netherlands by Dutch or foreign companies. Since most value added to the exotic oils and fats is added in EU countries, EU cosmetics companies import a lot of ready to use exotic vegetable oils and fats from other EU countries. The amount of fully processed exotic oils and fats imported directly from DCs is very limited. As discussed in section 1, conventional companies are also increasingly turning to exotic vegetable oils and fats and many of the large companies have their own purchasing department. They require large import quantities, which often cannot be met by DC suppliers. For many suppliers it is even difficult to secure the supply of much smaller companies. Due to issues raised by climate change and pressured by consumers, companies will be increasingly concerned about the carbon footprint of their products. It is often thought that the carbon footprint of products transported from the other side of the world is much higher than that of products grown in the EU. However, this is not necessarily true. As a result of the uncertainty on the market, many companies are running down stocks. Although this has led to diminished growth at this moment, it also means that these companies need to restock when markets begin to recover again. This will lead to accelerated growth of imports, at least temporarily. Exports EU exports of exotic vegetable oils and fats mainly concern the re-exporting of processed exotic vegetable oils and fats. Companies from Germany, France, the UK and The Netherlands export to other EU countries, as well as to countries outside the EU. Within the EU, most exotic oils are exported to Germany, France and the UK, but also to Italy and Spain. Export data for the products discussed here are not available.

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NATURAL INGREDIENTS FOR COSMETICS CBI PRODUCT SURVEY: THE EU MARKET FOR EXOTIC VEGETABLE OILS FOR COSMETICS Opportunities and threats + Despite a slowdown in imports due to uncertainties in the market, imports of exotic vegetable oils continue to increase every year. Furthermore, raw material for exotic vegetable oils and fats does not grow in the EU and all crude exotics need to be imported. + As mentioned, one of the major problems of EU importers is that it is difficult for them to find suppliers who can offer the quantities needed. Therefore, opportunities can be found in organising the supply chain, for example by setting up cooperatives, making it possible to offer secure and higher volumes. + Other opportunities for suppliers in developing countries lie in adding value to the products they export to the EU. Shea provides especially interesting value adding opportunities, as many shea nuts are still imported into the EU. - A possible future threat to the imports of exotic vegetable oils and fats could be the misperception that the carbon offset of importing these exotic oils is much higher than vegetable oils grown in the EU. Please note that the same development or trend can be an opportunity for one exporter and a threat to another. Exporters should therefore analyse if the developments and trends discussed in the previous chapters provide opportunities or threats. The outcome of this analysis depends on the specific situation of an exporter. For an example of such an analysis, please see chapter 7 of the CBI market survey The natural ingredients for cosmetics market in the EU. Useful sources EU Expanding Exports Helpdesk http://export-help.cec.eu.int go to: trade statistics Eurostat official statistical office of the EU http://epp.eurostat.cec.eu.int go to themes on the left side of the home page go to external trade go to data full view go to external trade - detailed data 4 Price developments

Because exotic vegetable oils and fats are traded in much smaller quantities than other vegetable oils and fats, there are no global market prices for these products. Therefore, it is difficult to provide a clear overview of current and recorded prices. Regarding the exotic vegetable oils and fats discussed in this survey, an f.o.b. price range of 2 - 15 a kilo ( 2,000 - 15,000 a ton) is a rough estimate, with shea at the low end, followed by babassu oil, apricot kernel oil, cupuacu oil, baobab oil, moringa oil and argan and papaya seed oil at the high end. This order is not as strict as described here and changes regularly. However, prices could exceed 15, depending on availability. Prices of these exotic oils and fats tend to follow the same developments as the prices of more widely used vegetable oils and fats. These prices increased steadily between 2006 and the first half of 2008. However, as a result of the economic downturn, prices have come under pressure. Prices of, for example, groundnut oil, coconut oil, palm kernel oils and palm oil dropped fast; by 40%-55% until the first quarter of 2009. The second quarter of 2009 saw some recovery of prices. A similar development is visible for exotic vegetable oils and fats. EU companies have been running down stock levels. Also, investments were postponed or cancelled, leading to less innovations and decreasing demand for new ingredients. However, industry sources indicate that the price decreases for exotic vegetable oils were not as strong as for commodity oils and fats and are recovering faster. The price of shea butter is closely related to the cocoa butter price, as it is mostly used as a cocoa butter substitute. Cocoa butter prices also experienced an upward trend until August 2008. With the uncertainty of the economic crises looming over the sector, prices decreased, but started to recover after October. However, from January 2009 onwards, prices decreased

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NATURAL INGREDIENTS FOR COSMETICS CBI PRODUCT SURVEY: THE EU MARKET FOR EXOTIC VEGETABLE OILS FOR COSMETICS substantially again. Starting in June, cocoa butter prices recovered somewhat and reached a 3,737/tonne for European cocoa butter and 4,725/tonne for African type pure pressed butter1 on August 26, 2009 (Public Ledger, 2009). Shea butter prices always stay below the cocoa butter price, because otherwise the industry is not interested in this replacement for cocoa butter. If prices are too close to cocoa butter, illipe butter, also a cocoa butter substitute, becomes another competitor. However, if prices are too low, there is no interest in plucking and exporting shea nuts. FairTrade offers The Union of Women Producers of Shea Products in Burkina Faso a guaranteed minimum price of 2,640/tonne and pays members a price, agreed by members at the General Assembly, which is higher than for conventional sales. 5 Market access requirements

As a manufacturer in a developing country preparing to access the EU, you should be aware of the market access requirements of your trading partners, the EU and the government of the country to which you are exporting. Requirements are demanded through legislation and through labels, codes and management systems. These requirements are based on environmental, consumer health and safety and social concerns. You need to comply with EU legislation and have to be aware of the additional non-legislative requirements that your trading partners in the EU might request. In general, the market access requirements for exotic vegetable oils and fats are similar to the requirements which apply to commodity vegetable oils and fats and other natural ingredients for the cosmetics sector. For a general overview of these legislative and non-legislative requirements, see chapter 6 of the CBI market survey The natural ingredients for cosmetics market in the EU. For more extensive information on legislative and non-legislative requirements, go to Search CBI database at http://www.cbi.eu/marketinfo, select natural ingredients for cosmetics and the country of your interest in the category search, click on the search button and click on market access requirements. Contrary to many other ingredients for the cosmetics industry, vegetable oils and fats (including the exotics) are exempt from REACH regulation if they are not chemically modified, unless they meet the criteria for classification as dangerous set by Directive 67/548/EEC with the exception of flammable (R10), as an eye irritant (R36), as a skin irritant (R38), or are a so called PBT or vPvB or 'a substance of equivalent concern'. In the case of new exotic vegetable oils and fats, EU buyers require that the product has a recorded history of skin use or use in food in the country of origin. This is an informal indication of safety of use. Even though exempt from REACH, buyers generally require safety data sheets. Also, all new products need to be INCI listed. Additional information on packaging can be found at the website of ITC on export packaging: http://www.intracen.org/ep/packaging/packit.htm. Information on tariffs and quota can be found at http://exporthelp.europa.eu/.

Currency conversions using Oanda.

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NATURAL INGREDIENTS FOR COSMETICS CBI PRODUCT SURVEY: THE EU MARKET FOR EXOTIC VEGETABLE OILS FOR COSMETICS 6 Doing business

General information on doing business like approaching potential business partners, building up a relationship, drawing up an offer, handling the contract (methods of payment, and terms of delivery) can be found in CBIs export manuals Export Planner and Your image builder. Furthermore, cultural awareness is a critical skill in securing success as an exporter. Information on cultural differences in the EU can be found in chapter 3 of CBIs export manual Exporting to the EU. These manuals can be downloaded from http://www.cbi.eu/marketinfo go to search publications. Sales promotion Common practices for sales promotion of exotic vegetable oils and fats are similar to those for other cosmetic ingredients, and can be found in CBIs From survey to success. Guidelines for exporting natural ingredients for cosmetics to the EU. In general, DC suppliers of exotic vegetable oils and fats, especially suppliers of new products, are advised to link up with local business support organisations, import promotion organisations such as CBI, branch organisations focusing on cosmetics, natural cosmetics and natural ingredients sectors or EU companies, to support them with the appropriate documentation needed as well as support them with market development. Marketing is of crucial importance for finding (new) buyers. Trade fairs offer great opportunities for marketing. Besides being a good opportunity to present you products and meet potential buyers, trade fairs can be an efficient tool for creating or expanding your network, as well as a valuable source of information on market developments, production techniques and interesting varieties. The most interesting trade fairs for suppliers of exotic vegetable oils and fats are:
BioFach In-Cosmetics 2010 Nrnberg, Germany Paris, France February 17-20, 2010 April 13-15, 2010 Organic products, natural ingredients http://www.biofach.de

Trade fair for suppliers of http://www.incosmetics.com raw materials/ ingredients for cosmetics, toiletries and personal care Focus on end products

Beyond Beauty

Paris, France

September, 2010

http://www.beyondb eautyparis.com

Trade press An interesting news website providing up-to-date information on developments in the cosmetics industry, including exotic vegetable oils and fats, is: http://www.cosmeticsdesign-europe.com. COSSMA is a very valuable, innovative, tri-lingual magazine, giving news from the areas of perfumery and cosmetics, aerosol and spray technology and marketing and marketing surveys http://www.cossma.com. An interesting magazine/news website providing up-to-date information on developments in the cosmetics industry: http://www.personalcaremagazine.com/

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NATURAL INGREDIENTS FOR COSMETICS CBI PRODUCT SURVEY: THE EU MARKET FOR EXOTIC VEGETABLE OILS FOR COSMETICS For more country-specific information on sales promotion, trade organisation and trade press, see the relevant CBI individual country surveys for natural ingredients for cosmetics.

This survey was compiled for CBI by Profound Advisers In Development in collaboration with Andrew Jones Fair Venture Consulting Disclaimer CBI market information tools : http://www.cbi.eu/disclaimer

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NATURAL INGREDIENTS FOR COSMETICS CBI PRODUCT SURVEY: THE EU MARKET FOR EXOTIC VEGETABLE OILS FOR COSMETICS Appendix A General product description There is no official definition of exotic vegetable oils and fats and the term exotic can be interpreted in different ways. In this survey, exotic vegetable oils and fats are oils and fats which are extracted from the seeds of plants and trees which mainly grow in the wild in tropical regions. They are not as commonly used as commodity vegetable oils, like for example palm oil, coconut oil and cocoa butter. The specific products described in this survey are the following: Apricot kernel oil (Prunus armeniaca) Apricot kernel oil is a clear to light-yellow coloured oil, extracted by cold pressing apricot kernels. The kernels have an oil content of 40-50%. This fragrant oil is rich in vitamins A and E and essential fatty acids. It is a readily absorbed emollient which improves the texture and health of skin, especially if sensitive, dry or mature. The oil is similar to almond oil and peach oil. Apricot oil is much cheaper than almond oil, and is used in cosmetics to soften skin. It is sometimes added (fraudulently) to genuine almond oil and used in the manufacture of soaps, cold creams and other preparations of the perfumery trade. Argan oil (Argania spinosa) Argan oil is extracted from the almond of the fruit of the argan tree. The argan oil, thanks to its high content of vitamin E, is ideal for counteracting the drying and ageing of the skin. It is perfect also for strengthening the nails, thanks to the presence of unsaponifiables. Many laboratories use it in ranges of nail and hair cares, also for the manufacture of soaps. Babassu oil (Orbignya Oleifera) Babassu oil or cusi oil, cold-pressed from the kernels of the babassu palm, is a semi-solid oil. Penetrating quickly, it is highly emollient and great for dry skin. Babassu Oil is also suitable for eczema, itchy, dry and inflamed skin, due to its soothing properties. Babassu Oil contains properties similar to these of Coconut Oil and is increasingly being used as a substitute for coconut oil. Babassu Oil is a white, semi-solid oil comprised of 70% lipids and is high in lauric and myristic acids, which have melting points close to human body temperature. It melts on contact with skin and penetrates quickly, making an excellent ingredient for lotions, balms, creams, cleansers, hair care, etc. Baobab oil (Adansonia digitata) Baobab oil is cold pressed from the seeds of the fruits from the baobab tree. Baobab oil is high in vitamin C and D. It has Omega 3, Omega 6 & Omega 9 fatty acids. The oil has strong moisturizing properties and is reputed to help skin elasticity. It is a very oxidative stable oil. This stability derives from the presence of natural antioxidants in the oil, as the composition of the oil (high in unsaturated fatty acids) would normally lead to susceptibility to oxidation. Cupuacu butter (Theobroma grandiflorum) Cupuacu butter is cold-pressed from the seeds of the cupuacu tree. It is a creamy and emollient butter, softer than cocoa butter. Its high water absorption capacity, due to its high phytosterol levels, makes Cupuacu an effective alternative to lanolin. Cupuacu butter offers the skin broad spectrum protection from damaging UV-A and UV-B rays. The high level of essential fatty acids and phytosterols in cupuacu butter gives it the ability to restore elasticity to the skin and treat skin conditions including eczema and dermatitis. Moringa oil (Moringa oliefera) Moringa oil is extracted by cold-pressing of the dried seed of the Moringa tree, which is widely cultivated in Africa, Central and South America, Sri Lanka, India, Mexico, Malaysia, and the Philippines. Moringa oil is a rich source of vitamins, minerals and antioxidants. With its mild odour profile and a natural solvent capacity, it has a good ability to carry other fragrances and explains its historical use as a base in which aromatic plants were steeped. Moringa has

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NATURAL INGREDIENTS FOR COSMETICS CBI PRODUCT SURVEY: THE EU MARKET FOR EXOTIC VEGETABLE OILS FOR COSMETICS very good emollient properties and contains a potent antioxidant in the non-glyceride fraction considered to be the major factor contributing to its good stability. It also has nourishing and moisturizing properties, making it ideal for use in skin and hair care products. Papaya seed oil (Carica papaya) Also known as Pawpaw, Papaya seed oil is obtained by cold pressing dried papaya seeds. Papaya is currently cultivated in most countries with a tropical climate, but the oil is mainly extracted in East African countries, like Kenya and Uganda. The oil is slightly orange and high in oleic acid (up to 74%) and contains significant amounts of stearic and palmitic acids. As with other plant oils which are high in oleic acid, papaya seed oil is stable, keeps well and provides emollience and conditioning in skin care and hair care products. Shea butter (Vitellaria paradoxa (Butyrospermum Parkii) -West African variety & Vitellaria nilotica-East African variety) This butter is extracted from the kernels of the shea nut tree and is a pale creamy white or yellow, solid oil. It is a tallow-like substance, extracted by hydraulic pressing or screw expellers. Shea butter is non-toxic and non-irritating and derived totally from renewable natural resources. Its unique fatty acid composition makes it a suitable emollient for manyskin-care applications, such as baby-care products, massage creams, make-up, and similar products. One unique characteristic of shea butter is its content of unsaponiables (up to 8%) which imparts smoothing properties and provides extra sun protection. Statistical product classification Combined nomenclature (CN) In this survey some trade data is provided by Eurostat, the statistical body of the EU, and is based on the Combined Nomenclature. The abbreviation CN stands for Combined Nomenclature. The Combined Nomenclature contains the goods classification prescribed by the EU for international trade statistics. The CN is an 8-digit classification consisting of a further specification of the 6-digit Harmonised System (HS). HS was developed by the World Customs Organisation (WCO). The system covers about 5,000 commodity groups, each identified by a six-digit code. More than 179 countries and economies use the system. In this survey CN data are used to indicate imports and exports. Statistical data: limitations Trade figures quoted in CBI market surveys should be interpreted with extreme caution. In the case of intra-EU trade, statistical surveying is only compulsory for exporting and importing firms whose trade exceeds a certain annual value. The threshold varies considerably from country to country, but it is typically about 100,000. As a consequence, although figures for trade between the EU and the rest of the world are accurately represented, trade within the EU is generally underestimated. Please also note that it is not possible to distinguish between fully natural products and chemically refined products in this trade data. Furthermore, the information used in CBI market surveys is obtained from a variety of sources. Therefore, extreme care should be taken in the qualitative use and interpretation of quantitative data, because it puts limitations on in-depth interpretation of relations between consumption, production and trade figures within one country and between different countries. Combined nomenclature
Product description

Crude and non-crude fixed vegetable oils and fats and their fractions, for industrial uses (excluding for production of foodstuffs, soya-bean, groundnut, olive palm, sunflower seed, safflower, cotton seed, coconut, palm kernel, babassu, rape, colza, mustard, linseed, maize, castor, tung, sesame, jojoba, oiticica, myrtle, Japan wax and tobacco seed).

HS code 1515 9040/60

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NATURAL INGREDIENTS FOR COSMETICS CBI PRODUCT SURVEY: THE EU MARKET FOR EXOTIC VEGETABLE OILS FOR COSMETICS Appendix B Potential interesting vegetable oils and fats2 Andiroba Seed Oil Apricot Kernel Oil Argan Oil Artemisia Oil Avocado Butter Avocado oil Babassu oil Baobab Oil Bilberry Seed Oil Bitter Cherry Kernel Oil Black Cumin Seed Oil Black Walnut Oil Blackcurrant Seed Oil Borage (Starflower) Oil Brazil Nut Oil Buriti Oil Butter Tree Butter Calendula Oil Camelina Oil (Gold of Pleasure) Camellia Oil Cashew Nut Oil Castor Oil Chaulmoogra Oil Cherry kernel oil Chia Oil Chiuri Butter Chufa Oil Cocoa Butter Coffee Bean Oil Cranberry Seed Oil Cupuacu Butter Dhupa Butter Echium Seed Oil Evening Primrose Oil Grape Seed Oil Grapefruit Seed Oil Hazelnut Oil Hemp Oil Illipe Butter Jojoba oil Kiwi Seed Oil Kokum Butter Kukui Nut Oil Lime Seed Oil Linseed Oil Macadamia Nut Oil Mafura Butter Mango Butter Mango kernel oil Manketti Nut Oil Marigold Seed Oil Marula Oil Melon Seed Oil Mobola Plum Oil Moringa Oil Mowrah Butter Murumuru Butter Neem Oil Ngali Nut Oil Olive Oil Papaya Seed Oil Passion Fruit Seed Oil Peach Kernel Oil Peanut Oil Pecan Oil Pequi Oil Perilla Seed Oil Phulwara Butter Pistachio Nut Oil Plum Kernel Oil Pomegranate Seed Oil Poppy Seed Oil Pumpkin Seed Oil Raspberry Seed Oil Rice Bran Oil Rose hip oil Safflower Oil Sacha inchi oil Sal seed butter Sea Buckthorn Oil Sesame seed oil Shea Butter Shea Oil Shorea Robusta Butter Strawberry Seed Oil Sunflower Oil Sweet Almond Oil Sweet Cherry Kernel Oil Sweet Orange Seed Oil Tamanu Oil Tucuma Butter Walnut Oil Watermelon Seed Oil White Mustard Seed Oi Ximenia oil Yangu Oil

Compiled by Andrew Jones (2009)

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NATURAL INGREDIENTS FOR COSMETICS CBI PRODUCT SURVEY: THE EU MARKET FOR EXOTIC VEGETABLE OILS FOR COSMETICS Appendix C References Cosmetics design, http://www.cosmeticsdesign-europe.com Cosmetic News, http://www.cosmeticnews.com COSSMA, http://www.cossma.com Cupuacu, 2009, http://www.cupuacu.com/ (last updated: April 2009) Euromonitor International, http://www.euromonitor.com Europe: Investors Targeting Natural Cosmetics Market, Organic Monitor, 2007. Exotic Cosmeceutical Ingredients, J. Jacknin, Virgo Publishing, 2009. LMC International, 2009, http://www.lmc.co.uk/ Natural butters are increasingly important, A.C. Dweck, Personal Care, March 2009. Personal Care, 2009, http://www.personalcaremagazine.com Sekaf Ghana Ltd, 2009, http://www.sekafghana.com Uganda Export Promotion Board, 2009, http://www.ugandaexportsonline.com/2009/home.php

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NATURAL INGREDIENTS FOR COSMETICS CBI PRODUCT SURVEY: THE EU MARKET FOR EXOTIC VEGETABLE OILS FOR COSMETICS

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