Conscious capitalism is the new way
Few of India's homegrown personal care brands may be working with limited financial resources; but are keen on protecting the earth through sustainable processes
The wealth of resources that the natural world has to offer belongs to everyone, humans and animals alike. Fortunately, new-age brands are understanding the importance of sharing resources and trying to give back whenever possible. It is these revolutionary brands that are promoting the idea of conscious capitalism – a practice of owning and running a business in a sustainable manner.
A distinguishing factor of such brands is that they use very limited capital – usually the founder's own money – to operate a self-sustained business. The business owners promote and nurture the brand without any external funding, and use their capital to carry out in-depth research, product testing, marketing, and product expansion. Working with limited financial resources, such brands often have a keen focus on protecting the earth's massive yet depleting natural wealth through sustainable processes.
An environment-friendly approach to personal care
At the forefront of conscious capitalism is the fast-growing personal care market. A report published by Market Research Future (MRFR) stated that the global natural and organic cosmetics market is predicted to touch $25,100 million by 2023. Evidently, the personal care market across the globe is transforming. But, what is driving this fast-growing trend?
The new-age consumers, especially GenZ, are more aware of their surroundings and the pressing environmental crisis. As a result, these consumers are driving the demand for clean beauty – essentially cruelty-free, vegan products that are free from toxins that harm humans as well as the environment. They are not only conscious of the food that they put inside their body, but also the products that they use on it.
To cater to this growing demand, brands are transforming their manufacturing processes and the ingredients that they use to create products. Organic, vegan, natural are, thus, becoming buzzwords in the beauty and personal care industry across the world and even in India. Several homegrown brands are offering products that have been created in a manner that is responsible towards the planet.
How do personal care brands practice conscious capitalism?
As mentioned above, personal care brands are transforming their manufacturing processes as well as ingredients in order to align themselves with the environment-friendly movement that is raging across the planet. This includes using natural or organic ingredients to create products that are toxin-free and devoid of harsh chemicals.
Some of the ingredients being used by such brands include witch hazel, ginseng, tea tree oil, activated charcoal, and aloe vera to create products such as deodorants, face masks, face washes, and shower gels. These products steer clear of additives such as parabens, phthalates, PEGs, phenoxyethanol, silicones, DEA/TEA, BHT, BHA, Formaldehyde, Retinyl Palmitate, Triethanolamine, etc.
Certain brands are also making the shift towards sustainable packaging by using recyclable materials. In doing so, they are removing some of the burden that falls on the planet as a result of human activities.
Conscious capitalism is beneficial for all!
The aforementioned additives, when added to personal care problems, can lead to a host of health issues such as allergic reactions, hair loss, asthma, and even cardiovascular disease. Therefore, when brands switch to natural ingredients, it not only benefits the planet but also the health of its consumers. Considering this fact, it is delightful to witness an increase in homegrown brands that focus on sustainability and clean beauty. As this trend continues to grow across industries, it will not be surprising if India leads the change across the world and becomes a pioneer in conscious capitalism. This, in turn, will lead to a healthier and happier life of the present and future generations.
Dipali Mathur Dayal,
Co-Founder and CEO,
Super Smelly