Within the past decade, consumer focus has shifted from the basic concepts of aesthetic beauty to the broader idea of skin health. Wellness, which consumers are increasingly seeking to achieve in their nutritional, physical, and lifestyle habits, is helping to generate demand for dermocosmetics.
Menopausal consumers are an untapped market for many health and beauty businesses, as more people look to treat their symptoms holistically. Both internal and external treatments are thriving, with opportunity in phytoestrogens, Ayurveda and the microbiome. Menotech offers solutions in terms of tracking and symptomatic relief, while community offers a more affordable option in educating consumers, fighting taboos and fostering a support system.
Despite renewed enthusiasm for make-up in 2021 after a dismal 2020, an elongated recovery of the US colour cosmetics market is expected, as consumer behaviour and spending shifts evolve. Euromonitor highlights opportunities in colour cosmetics, such as digitalisation and personalisation, and addresses future challenges.
The perception of beauty, health and wellness have significantly changed since the COVID-19 pandemic. As a result, consumers are demanding more authenticity and transparency when buying beauty products.
Sustainability is a growing concern, following the rise in extreme climate events globally and focus on brand purpose after the Coronavirus (COVID-19) pandemic. Demand is shifting from natural and free-from properties towards cruelty-free, sustainable packaging and ingredients sourcing. Social purpose and concerns of "greenwashing" are now shaping the future of sustainable hair care.
Some aspects of beauty personalisation, such as in-store consultations, have suffered during the pandemic. In contrast, personalised beauty that can offer an at-home experience, while pairing solutions with virtual consultations with professionals, have thrived. The growing interest in beauty personalisation, supported by improvements in technology and data collection, has led to a plethora of new products and services, with a transformative impact on how brands operate, retain customers, and drive value.