The beauty industry is dominated by a number of multinational corporations spreading among range of beauty businesses. The industry has become a new hub of investing and generating amounts of money. It comprises purchasing and selling of cosmetics, products for skin, hair care, perfumes, and fitness product tips . Despite a difficult retail environment, beauty is thriving and a number of brands in the world is exploding through various trends.
There are many changes existing which are now pushing major beauty companies to draw in more founders and driving more creativity every day. Acquisitions are taking place because the big brands are threatened by the young, independent brands that consumers want now.
Consumers mostly women are on a journey of exploration. It’s part of the generation shift where they are enjoying new products and finding new brands. It’s all in the new idea of becoming or remaining beautiful. Most focus on the skin care segment where they look for products of improving beauty or brightening. Some are actually applying heavy makeups or surgery to create a nice look. This focus doesn’t aspire on natural- looking but all about flawlessness in this sector.
- Technology tools
Technology not only makes our lives easier but its also speeding up our beauty industry routines. Major beauty brands are investing in technological advances to cater to the desire for ‘smarter’ solutions where consumers believe digitally advanced react positively.
- Health and beauty
Beauty products and their experiences are increasingly being associated with health, fitness, and wellness. Consumers today are much more aware of links between their inner balance and well-being and the positive effects that have on external beauty. We’re seeing a trend for efficacy beauty products working for both tropically and internally. Meanwhile, there should be expected a focus on a mental and emotional balance achieved through stress- bursting beauty and health products.
As the line between food and beauty products, we expect to see beauty industries exploring agriculture technology focusing on ingredients sourcing. It should be a major concern, especially on natural products.
- Unisex products trend
While the highest target on beauty is on women, increased options for men’s personal care products are emerging. The beauty industry is always evolving in several noteworthy developments like the men’s grooming. This is an area of growth in the men’s beauty category which includes male skincare, and hair care. In the future maybe it will be men’s makeup leveling with ladies. Currently there is this emerging category of genderless makeup and in fact, it’s only a matter of time before men enhancement of makeup becomes relatively mainstream.
The final trend is the rise of social media influence which is increasingly playing a role in moving beauty products. Impact of influencers is going beyond normal mass market to luxury brands.
Beyond the above mentioned biggest trend in the beauty industry, some brands may claim how their products are natural when such may not be the case. This emphasizes that customers require transparency as well as sustainability when it comes to beauty products since all are looking for the same benefits in the industry.