Analysts have found four important trends that will have an impact on beauty markets worldwide for the next decade and emphasized that beauty brands must innovate in a way that meets consumer’s demand for natural ingredients based products.
According to specialists at Mintel, the next decade in beauty will be defined by home-made products, smart technology, fighting fatigue and water conservation.
First trend identified by Mintel’s specialists is called “Augmented Human” and it is focused on the blurred line between persons and technological devices. The analysts advised in the future we will see more customized formulas as technology continues to provide consumers more insight into the way their bodies work and help them find suitable beauty products.
Vivienne Rudd, Director of Insight for the Beauty and Personal Care Division at Mintel, said that ”New product development in augmented reality is providing the next step in virtual mirrors and real time visualization of the effects of beauty products on skin and hair. What’s more, wearables will increasingly become part of the body, from micro patches that monitor skin condition to ingestibles that send information to connected devices from the stomach, tracking the movement and efficacy of beauty supplements”.
The second trend is named “Water: the new luxury” is very suggestive, specialists say that water will be a valuable commodity considering consumption will exceed the supply. As a consequence, say Mintel’s analysts, beauty brands will develop less water dependent products. A third of the United Kingdom’s consumers, told Mintel they will be inclined to spend more for fixtures that reduce water and energy bills. Rudd added to this that the key to success for the beauty brands will be generated by the younger customers’s ability to adapt to these “innovative measures”.
The third trend, called “Power play” will be focused on the need to boost energy levels in this modern and sometimes hectic lifestyle. Mintel’s research discovered that four in five United Kingdom adults dislike feeling low on energy, while in the United States tiredness comes as the second biggest health concern.
Last trend, “Gastronomia” refers to products that can be made at home, in the kitchen but still reflect the latest beauty tendencies. As per Mintel, this will be driven by the increasing interest in natural ingredients and the desire to be in control of one owns products.
Vivienne Rudd concludes by saying that brands will have to switch their focus by making it easier for consumers to make products at home.