The global cosmetics industry, worth an estimated $500 billion, is grappling with the fallout from the war in Ukraine. Beauty products manufacturers use alcohol derived from organically grown cereals and beets for their perfumes, and sunflower oil for their cosmetics – in other words, the Ukrainian agricultural sector’s key crops.The energy crisis triggered by the invasion of Ukraine has also caused the prices of glass and paper to skyrocket, while repeated lockdowns in China are preventing companies from sourcing components used to manufacture perfume and lipstick packaging.

“We are in crisis management mode on these procurement issues,” said Emmanuel Guichard, delegate general of French beauty industry association FEBEA (Fédération des entreprises de la beauté), in an…