Beauty has become an essential part of modern life. Increasing interest in not only internal beauty, but also external beauty and perfection has become the core driving force for the market growth. The Asia-Pacific has the fastest growing cosmetics market, while Gen Z and the millennials are the key driving force of the global market. The global cosmetic market values up to US $100.5 Billion in 2022, and is expected to grow annually by 6.85% (CAGR 2022-2026).
Since the COVID-10 pandemic, there have been numerous changes in the type of skincare and make-up preferred by the consumers. 1 in 5 women have reported changing their skincare routine due to the pandemic where 22% spend more time and money on skincare, while 40% of facial skin care users have increased the frequency of using skin care products. Most importantly, there have been increasing consumer awareness and demand for healthy living and wellness.
The notion of skin health has developed into numerous specific areas such as improving skin immunity, boosting skin elasticity, tackling ‘maskne’, as well as soothing sensitive and irritated skin.
This article shares the current Beauty Care trend.
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Skinimalism
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Scientifically Proven
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Sustainability
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Maskne
5
Fragrances
Skinimalism
Skinimalism is a strong trend toward simplifying routines. It is a portmanteau word combined with “skin” and “minimalism”. As these words suggest, an increasing proportion of customers prioritise the minimalist approach, supporting a ‘buy less but better’ tendency’. This is especially so as they realise that using too many skin care products is unnecessary and does not guarantee effectiveness. The interest in skinimalism has also resulted in the growing popularity of multi-use products which improve the skin while saving time simultaneously. Therefore, customers nowadays now look for multi-purpose skin care products that are proven effective.
Scientifically Proven Beauty
Along with increasing awareness of skin health, consumers have an increasing demand for skin care products that are scientifically proven and recommended by experts. For example, L’Oreal launched the CeraVe Hydrating Cream-to-Foam Cleanser which was developed by a group of experts using an Emulsion delivery technology to boost hydration and improve the skin barrier. As a result, the brand had 56% growth in North America in 2020. Click here to check out other active ingredients that actually work!
Dermocosmetics – products that merge dermatological characteristics (managing skin and/or scalp issues) with that of cosmetics (such as cleansing, moisturizing, and beautifying) to enhance the health and beauty of skin and hair – are gaining popularity as well. This is evident as 36.1% of global respondents of Euromonitor International’s “Beauty Survey” had skin and health benefits as their main motivation for dermocosmetics usage from 2019 to 2021, while 23.7% believed that medicated ingredients were more effective than non-medicated ones.
Sustainability
Increasing consumer demand for products with smaller ecological and planetary footprints has resulted in the rise in sustainable personal care innovation, product manufacture, and companies getting relevant certificates for their products. Click here to read more about certification and labelling options for natural and organic cosmetics.
Numerous consumers use clean beauty products that are made up of eco-friendly ingredients that are not harmful to human health and the environment, and those with recyclable packaging. Waterless beauty is also rising in popularity as one of the most sustainable and shelf-stable products.
K-beauty products, which emphasize heavily on using pure and natural ingredients have been gaining global popularity. They are innovative in terms of their raw material usage, such as using snail slime, bee venom, and starfish extract as one of their ingredients. They also use plant-based ingredients and fermented ingredients which enhance the skin absorption of actives and boost antioxidant levels. K-beauty products such as ‘skin-care cosmetics adjacent’ also promote a ‘no makeup make-up’ look, which caters to the popular trend among Gen Z and millennials. Click here to read more about Korean Skincare Trends in 2021.
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Maskne
Maskne is a portmanteau, a combination of the words “mask” and “acne”. It refers to the skin troubles that occur from wearing face masks. Mandatory mask-wearing has resulted in a surge of people having maskne, which led to an increase in maskne tackling skin care products. Australian brand Real-u uses marine-complex salt as the main ingredient to treat mask-induced skin issues, while the Singaporean brand ONLY Group developed an antibacterial mist that uses 100% plant-based ingredients to reduce the incidence of maskne and build a protective skin barrier.
Fragrances
There has been a surge in fragrance consumption since 2021 with the ease of COVID lockdowns. Scents with clean and fresh notes such as fruity or musk-based scents are gaining popularity, as they are promoted with mood enhancement and a sense of indulgence. The fragrance performance in the remaining 2022 is highly optimistic as there are COVID regulation relaxes further and more avenues for socialising. Correspondingly, fragrance products have now become a common gift for the self as well as others.
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