Consumer focus on health, safety and ingredients has naturally expanded and become a prominent theme within hair care, as more players embrace the “skinification” of hair through launches containing skin care ingredients that target scalp health.
At a global level, post-pandemic recovery in 2022 was tempered by deceleration, in constant terms, driven by high inflation, rising unit prices and strained supply chains. Euromonitor International takes a deeper look at five key trends that are adding value for consumers and impacting beauty consumption.
Skinification is rapidly spreading across beauty and personal care. Euromonitor International explores the US consumer interest in skinification supported by self-care trends, highlighting future opportunities for players.
As more consumers demand products and services to meet their specific needs, companies are racing to build bespoke offerings lest risk being left behind. As tech advances, industries are rushing headlong into the new market for personalisation, in some cases without understanding the motivations of the clients they are trying to satisfy. Euromonitor’s megatrends series will examine these Personalisation Seekers to determine where this concept is heading and who will drive demand moving forward.
As beauty and health products become more expensive amid high rates of inflation globally, consumers are forced to be more selective about the products they spend their money on. The result has been a polarisation of spending across the product categories.
The COVID-19 pandemic and related restrictions sent shockwaves through China’s beauty and personal care industry in 2022 and crippled consumers’ beauty spending. But with the lifting of zero-COVID measures in December 2022, the market heads into 2023 with strong signs of recovery.