The beauty-health alignment is progressing, with the proliferation of multifunctional and cross-industry inspired innovation, reaffirming the space for products like dermocosmetics and nutricosmetics. In parallel, industry players are exploring new distribution methods to exploit this growing trend. Discerning consumers are contributing to this evolution, as they expect more from beauty products, leading brand owners to look past their existing knowledge for more advanced product formulations.
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Adjacent categories to beauty and personal care, such as nutraceuticals in health and wellness, remain strong. The growing prevalence of health benefits in several FMCGs is narrowing the competitive distance as industry boundaries blur.
Rising public healthcare costs across developed markets mean consumers are increasingly encouraged to self-medicate for minor ailments. Consumer health is serving as a product ideation platform for solution-driven beauty products.
Cross-industry products are emerging strongly and this is translating into extensions to categories such as skin care and hair care. Notably, dermocosmetics is consolidating, while “hairceuticals” and nutricosmetics are witnessing refined product claims.
While nutricosmetics could seemingly revolutionise consumers’ beauty routines, reservations over product claims could limit this segment from thriving. However, the segment is still in its exploratory stage, and it could present opportunities to high equity beauty and personal care brands.
While natural formulations are on the rise, the expense and challenge in sourcing new ingredients is leading industry players to turn to scientific methods, in particular biomimetics. Ingredients normally associated with consumer health products are entering the beauty space as well.
Pharmacies are becoming one of the preferred channels for brand owners active in health-based beauty. This channel benefits from a perception of stocking more credible products and of providing more trusted advice.