Business Insider “The beauty industry is valued at $532 billion and is on a rapid upward trajectory, according to a new report from retail analytics firm Edited”.
According to Shannon Peters (from I-D) “The beauty industry is driven by novelty. Every week there is a new fashion ingredient that promises to revolutionize our skin care routine, or a new makeup brand backed by the most famous celebrities”.
There are many reasons why today's consumer takes more care of his physical appearance than ten years ago. Numerous studies show growing trends in consumption towards beauty products regardless of gender: men and women alike are driving the industry, seduced by innovative products, while consuming traditional products. Aspects such as weather conditions (cover from the sun or pollution), self-esteem and even work have changed consumer trends, increasingly enhancing the acquisition of these products.
Forbes shares something interesting: “Millennial Culture = immediate results. In 2015, sales of anti-aging products fell for the first time in many years, contravening the trend of the last decade, when products specialized in combating fine lines and first wrinkles had been the most demanded. The reason? The new philosophy of millennial self-acceptance, which threatens to completely change the paradigms of the industry. According to Karen Gran, a global beauty industry analyst for The NPD Group, "it's less about giving up than accepting who you are, what you are and how you look, without feeling that you have to get into some mold." But that's not all: the millennial culture has coined a new philosophy within the world of luxury (See now, buy now) that seeks immediate satisfaction. While the sale of creams with long-term results has declined, makeup sales have increased by 13%. A new front that the beauty industry is about to conquer”.
We know that mass consumption is causing irreversible damage to the environment, so more and more people are looking for ways to reduce it. That is why makeup addicts are trying to "rehabilitate" and there are more and more reusable beauty products. But still we will need a more drastic solution. As such, consumer research analyst Mintel has highlighted waste below zero as one of its key trends for 2019. Beauty brands are finding increasingly clever ways to eliminate excess packaging, such as base and concealer without Lush packaging, while other brands are working on truly effective recycling innovations that are trying to eliminate contaminant waste completely.
The demand for solid formats that need minimal packaging will increase, something ideal for organic consumers looking for products that do not generate waste. The shampoo or facial cleansing bars will continue to increase, but the novelty will come from the hand of color cosmetics with makeup bases and blush in a bar format without packaging - like those offered by Lush. Products that limit the use of water will continue to be a key focus for the development of developments in 2019, as concerns about the water crisis around the world grow. Bar makeup and solid water-saving body formats will remain popular.
According to Theresa Yee, beauty editor at WGSN, "The focus will be on personalized digital devices that will help users keep track of their skin health, reduce their aging and offer long-term solutions to combat different problems such as acne, dryness, eczema and lack of pigmentation” she says.