The beauty industry is an ever-evolving one, with trends like lip kits—hello, Kylie!—and charcoal face masks coming from seemingly nowhere and turning into the next big thing. The beauty industry grew by 6% in 2017, to reach $17.7 billion, with skin-care sales growing by 9% and contributing to 45% of the industry’s total gains. Here are the trends that are taking the beauty industry by storm in 2018.
As we step into 2024, several key trends are shaping the market. This article explores these top beauty industry trends, providing insights into how they are influencing the industry and what they mean for consumers and businesses alike.
Most Popular Beauty Industry Trends for 2024
PERSONALIZATION
Consumers are tired of being sold products that are for general demographics such as age, gender or ethnicity,, as everyone has different, specific issues. Beauty is not a “one-size-fits-all” industry, and brands are listening. Rihanna’s Fenty makeup line features 40 different foundation shades, and Eyeko offers bespoke mascara. 2018 brings customization to beauty products with base products that consumers can then add selected “active concentrates” to, depending on their particular skin needs.
ENVIRONMENTALLY FRIENDLY
Studies have shown that consumers are concerned about the environment, and care about how their products are made and the effect they will have. Building on the “clean” eating movement seen in the food and beverage industry, “clean” beauty is being demanded by consumers. Natural and sustainable products with allergen-free, pure ingredients are increasingly popular as eco-conscious consumers gravitate toward these environmentally-friendly products. Additionally, the demand doesn’t stop at the products. Consumers are looking for eco-friendly packaging as well. According to Marie Lavabre, founder of “clean” brand KINN, “I expect to see more of a shift towards plant-based plastics in 2018 and glass, too, as the consumer becomes more aware of the harm plastic is causing when not disposed of safely or recycled.”
BEAUTY FOR EVERYONE
In the past, beauty brands offered completely different products for men and women, using gendered marketing. Today, however, brands are moving towards gender-neutral products for 2018. Just as consumers are getting fed up with being segmented into small demographics, consumers were getting frustrated with the “segregated” beauty industry. Sam Farmer, a father from the U.K., created Unisex Cosmetics after seeing the pink, sexist deodorant options for his teenage daughter. His line of gender-neutral deodorant, face and body wash, come in solid-coloring packaging without masculine or feminine visual cues.
ACTIVE BEAUTY
81% of millennials exercise, or would like to, compared to only 61% of baby boomers. For millennials, fitness and overall wellness is a part of their daily routine, and are willing to spend money on this hobby. Which leads to skincare developed exclusively for active women. This niche targets exercise-specific concerns and the products boast about “sweat-resistant” and “workout ready” attributes.
Inclusivity and Diversity
Inclusivity and diversity are now fundamental aspects of the beauty industry. Brands are expanding their shade ranges to cater to a wider variety of skin tones and types. Inclusive marketing campaigns that represent diverse beauty standards are also becoming more common. This shift towards inclusivity not only meets consumer demand but also promotes a more equitable and representative beauty industry.
Men’s Grooming Market
The men’s grooming market is experiencing substantial growth. Men are increasingly interested in skincare, haircare, and grooming products tailored specifically to their needs. Key trends in this market include the rise of multifunctional products, the emphasis on natural ingredients, and the influence of male grooming influencers. Brands are expanding their product lines to include men’s grooming essentials, recognizing the untapped potential in this segment.
Natural and Organic Products
Natural and organic products are gaining popularity as consumers become more conscious of what they put on their skin. These products boast numerous benefits, including fewer synthetic chemicals and a focus on natural ingredients. Leading brands in this category, such as Burt’s Bees and RMS Beauty, are setting the standard for high-quality, effective natural beauty products that resonate with health-conscious consumers.
At-Home Beauty Treatments
The demand for at-home beauty treatments has surged, especially in the wake of the COVID-19 pandemic. Consumers are looking for convenient and cost-effective ways to maintain their beauty routines at home. DIY skincare recipes, at-home facial devices, and self-care kits are becoming increasingly popular. These options provide consumers with the flexibility to achieve salon-quality results without leaving their homes.
Influence of Social Media
Social media plays a pivotal role in shaping beauty trends. Platforms like Instagram, YouTube, and TikTok are hotspots for beauty influencers and brands to showcase products and tutorials. Influencers have a significant impact on consumer purchasing decisions, often driving trends and launching new products. Social media campaigns and collaborations with influencers are crucial for brands looking to engage with younger, digitally-savvy audiences.
Beauty Subscription Services
Beauty subscription services offer consumers a convenient way to discover new products. Popular services like Birchbox, Ipsy, and FabFitFun provide curated boxes of beauty products delivered monthly. These services offer benefits such as personalization based on user preferences and the opportunity to try products before committing to full-sized purchases. They also help brands reach new customers and build brand loyalty.
Holistic Beauty Approach
The holistic beauty approach integrates wellness and self-care into beauty routines. This trend emphasizes the connection between mind, body, and skin health. Practices such as facial yoga, meditation, and the use of wellness supplements are becoming more mainstream. Brands are developing products that cater to this holistic approach, promoting overall well-being in addition to beauty benefits.
Anti-Aging Innovations
Anti-aging continues to be a major focus in the beauty industry. New ingredients and advanced treatments are constantly being developed to address signs of aging. Ingredients like retinol, peptides, and hyaluronic acid are popular for their effectiveness in reducing wrinkles and improving skin elasticity. Advanced treatments, such as laser therapy and microneedling, offer more intensive solutions for those seeking to maintain youthful skin.
Regulatory Changes and Impact
Regulatory changes are influencing the beauty industry in various ways. New regulations aimed at ensuring product safety and transparency are being implemented globally. Compliance with these regulations can be challenging for brands, but they also help protect consumers and promote trust. Understanding and adapting to these changes is crucial for brands to maintain their market position and reputation.
Are you ready for the future?
Looking ahead, several emerging trends are poised to shape the future of the beauty industry. Innovations in biotechnology and sustainable packaging, the increasing importance of inclusivity, and the integration of wellness into beauty routines are expected to continue driving the market. Industry forecasts suggest continued growth, with new opportunities for brands to innovate and meet evolving consumer demands.
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