What’s behind beauty’s innovation drought?

By Julia Wray | Published: 28-Aug-2024 Featured companies: The Red Tree Consultancy
Ingredients Sustainability Marketing

With Mintel reporting that beauty innovation has hit a ten year low, Cosmetics Business looks into the reasons behind beauty’s reliance on ‘renovations’

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Global beauty innovation has hit a ten year low, according to Mintel.

The analyst’s Global New Product Database (GNPD), which tracks and analyses global product innovation, showed that, for the first half of 2024, just 46% of global beauty and personal care launches were genuinely new products.

More than half of launches were what Mintel classifies as ‘renovation’, incorporating line extensions, reformulations, new packaging or relaunches.

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