The consumer intelligence experts have decreed three key trends set to impact the global beauty and personal care industry. They won’t be hugely surprising to you, in many ways these trends are already being widely adopted, but they are an important signpost for the way the beauty industry around the world is evolving.
New insights shared show as we place more significance on value, the importance of quality and proven ingredients increases.
Prioritising wellness is boosting the importance of mind-body benefits in products and services and AI is helping transform the industry through efficiency, innovation and inclusivity.
KinShen Chan, Mintel’s Senior Beauty and Personal Care Analyst for South APAC, explains how brands can make the most of the changing trends and attitudes.
The three key trends are:
Sophisticated Simplicity
The beauty industry will experience a paradigm shift as consumers demand effective, high-quality products.
“Consumers are increasingly seeking products that prioritise efficacy and functionality over extravagant packaging and flashy marketing campaigns,” explains Chan.
“Today’s consumers are looking for transparency; they are more inclined to seek justification for premium pricing based on tangible results rather than superficial factors. Research, clinical studies or certifications to substantiate their claims of effectiveness will gain credibility and trust.”
She says we are seeing a new wave of ‘new-age minimalism’ and ‘coded luxury’ as consumer focus shifts away from amassing an extensive collection of products to curating a carefully selected range of high-quality essentials. Expect to see companies invest in advanced formulations, cutting-edge ingredients and technologies for targeted solutions.”
NeuroGlow
The next chapter of wellness will be mind-body beauty, where mental well-being and physical appearance are interconnected.
Chan says the mind-body connection is helping promote beauty’s role in overall wellbeing.
“As our understanding of this connection deepens, brands will look to offer a comprehensive approach to beauty, improving external appearances and enhancing mental and emotional well-being through technology integration, partnerships, inclusivity and personalisation.”
Practices such as psychodermatology (exploring the relationship between psychological well-being and skin health) and neurocosmetics (which focuses on the mind-skin connection) are expected to gain traction.
“Meanwhile, wearable devices will provide real-time feedback on stress levels and skin health, strengthening the mind-skin connection. Advanced data analytics, DNA testing and personalised algorithms will enable brands to innovate customised beauty products and regimens tailored to individual mental and physical needs.”
Beaut-AI
Artificial intelligence will transform the beauty industry by making it more personalised, efficient and effective, but governance and transparency will be critical to growth.
“AI is revolutionising the beauty industry, accelerating product development and promoting inclusivity,” confirms Chan.
“By analysing data, learning patterns and generating insights, AI is addressing ethical concerns and speeding up new product development.”
The expert predicts going forward, we can expect to see AI enabling highly tailored beauty experiences based on individual preferences, genetics, environments and lifestyles as well as assisting with precise skin analysis, personalised product recommendations and real-time wellness monitoring.
