I still firmly believe that all chemical products - especially those intended for use on people, think body wash, shampoo, hand soap, etc - should have to disclose their full composition or ingredients list, including exact proportions.
Why? Because withholding that information means consumers don't really know what they're getting, and can't independently verify how safe or unsafe it might be.
Keeping the composition a "trade secret" is both anti-consumer & anti-competitive.
Plus...
If a competitor really wants to know what's in your product, in all likelihood refusing to disclose it anywhere won't do you much good.
See, unlike consumers, it's relatively easy for a competing company to hire an analytical chemist to figure out the precise chemical composition of a product... so in reality withholding the composition of a product hurts consumers a LOT more than it hurts the competition.
One problem is they source ingredients from companies that may change the composition of those products, or they may get them from different companies that bid against each other each year. It would be great to know if "fragrance" includes allergens like bergamot, but they don't want to have to create new labels every time they change vendors.
@AlphaCentauri I mean, I suppose.
In a perfect world it would be made law or at least a regulation, and when the companies complain about having to change their labels, the regulator would tell them to "suck it up, Suzie" or "shove it" and change the labels anyway.
Besides, maybe if they had to update the labels periodically, they'd see fit to correct the spelling and/or grammar mistakes often found on them 😁