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.

This apparently represents

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