Market overview: At a glance
What's in this report?
Introduction
Top 5 trends:
Forecast top 5 largest beauty and personal care countries, 2019
Key market challenges addressed
2018 marked a turning point for the global beauty industry. It has moved towards not only establishing a new definition of beauty, but one that belongs very personally to the consumer – a celebration of both individuality and diversity.
Yet consumers want even more, and meeting these evolving demands is the biggest challenge for beauty brands today. “As the growth of inclusive beauty demonstrates, the emphasis for consumers is increasingly concentrated on the idea of empowerment,” says Rhiannon McGregor, Foresight Writer at The Future Laboratory.
“Where can I find the products that suit my needs and the brands that will help me to better express myself? As a result, brands are having to think about beauty as not being a one-size-fits-all approach, but take a more informed attitude when it comes to who the new beauty consumer really is.”
Running alongside this is the importance of sustainability and provenance of materials to consumers, and the growing awareness and interest for vegan, organic and clean ingredients. Jacqueline Burchell, Global Marketing and Product Development Director at Sanctuary Spa, says: “We need to ensure that we source materials ethically and continue to deliver products that perform at the right price. The importance of being transparent from ingredients to supply chain is an ever demanding task for brands in personal care.”
Consumers also want a closer relationship with brands and their products, and brands need to find new ways to allow them to participate. “Beauty consumers are increasingly empowered and opinionated,” says Sophie Maxwell, Futures Director of creative design and branding agency Pearlfisher. “They want to be part of the process from giving insight to brands in terms of giving direct feedback on what they want, sharing peer-to-peer and building new communities to being able to get creative with products in terms of application – and after-life of receptacles.”
Above all of this, says Maxwell, “brands need to show their commitment to the consumer cause – from keeping ‘clean’ to living their legacy. We want products but we are also looking to beauty influencers to show new commitment, conviction and take us to a new level of beauty democracy.”
“The emphasis for consumers is increasingly concentrated on the idea of empowerment"
- Rhiannon McGregor, Foresight Writer, The Future Laboratory
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