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.
This apparently represents
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