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Your beauty and personal care world
Do Beauty Incubators Still Matter?
Beauty eCommerce and the online world even provide a new appeal that not many conglomerates were able to provide in the past, that was once restricted to the mega premium- exclusivity. Designer labels developed cult followings, new drops and collaborations are keenly sought after, and audiences are increasingly well versed on the nuances of beauty trends and the products that headline them. Online brands, indie creations, and limited edition releases thrive in this space, where creators have much closer access to buyers and can watch audience and beauty trends with a worm’s eye view, and often even participate in them. To participate, the majority of brands have looked to one simple communication tool: beauty influencers. Personal care trend Furthermore, in the coming years, the development of improved and innovative products in the women’s line, such as cosmeceutical and multifunctional products, is expected to boost personal care product sales. Manufacturers have flooded the market with specific hair and skin products to cater to specific customer needs. Promotional offers, advertising, and media penetration are also expected to benefit the market. Aspects such as rising consumer spending power, a plethora of international brands, and rapid urbanization are likely to aid market growth soon in emerging economies.
Personal care products trends
These socio-demographic trends suggest that demand for natural ingredients trend is likely to grow in the future. A growing consumer base will look for natural ingredients in cosmetics and personal care products. Demand for natural ingredients from developing countries is also expected, providing opportunities for suppliers from these countries. ‘Waterless’ beauty as the next big eco trend The trend’s growth indicates that sustainability is becoming table stakes for BPC brands and is tied into an emerging minimalist mindset.
Effortless Shopping
Gen Z, which makes up 20% of the U.S. population, is a highly sought-after demographic for skin care brands to target directly – having recently entered the workforce, this consumer segment is more likely to spend disposable income on cosmetics and skin care products. To that end, another recent Statista survey reported 38% of Gen Z shoppers spend between $21-50 per skin care product on average and are more likely to perform research and seek out reviewers on social media before completing these purchases. Personal care The COVID-19 pandemic affected the sustainable personal care market. The supply of sustainable personal care products was reduced. As a result, the demands of a significant number of customers remained unfulfilled. Furthermore, consumer focus has migrated to internet enterprises at an unprecedented rate as a result of the COVID-19 pandemic. As a result of these recent developments, market players are spending to provide their customers with a unique digital experience. COVID-19 introduced several new issues, the severity of which was determined by the portfolio as well as regional exposure. As a result, the sustainable personal care market is coping with a very different client and retail environment.
Trends in personal care
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions. Regimens, Routines and Retention The global beauty and personal care products market size reached US$ 481.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 787.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.12% during 2023-2028.
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