Jamaica Promotions Corporation (JAMPRO) is seeking to boost the local cosmetics industry by capitalising on potential investment opportunities and leading trade missions to existing and potential overseas markets.
Berletta Henlon-Forrester, Sales and Promotions Manager for Manufacturing at JAMPRO, said studies undertaken by the agency, show that the cosmetics industry is a lucrative one.
She said the data show that the castor oil market for example, is set to reach US$2.3 billion by 2024.
Another finding is that consumers are willing to pay up to 20 per cent more for Jamaican black castor oil than they pay for regular castor oil.
She said a major advantage of local cosmetic products is that they are made from natural, home-grown ingredients such as turmeric, charcoal, aloe vera, honey, coffee, lemongrass, garlic, rosemary and moringa.
She added that the local industry is positioned to benefit from export and investment opportunities, with deep implications for the entire supply chain and job creation.