The beauty industry is thriving and there isn’t any ‘slow down’ signs in the horizon either. There’s never been a more vivid and lively time for this booming industry, really, with its sheer number of millennial consumers and their desire to be Instagram-worthy and their constant craving for the new products and services.
We’re Really Spending On Beauty
Globally, the revenue within the beauty and personal care industry is expected to surpass $750 billion by 2024, up from $432.7 billion in 2016.
Top 10 beauty trends that have taken the world by storm
CUSTOM COMBINATIONS
Personalization is the biggest overarching trend in the industry today. Whether it’s the shade of their foundation (witness the immediate success of Rihanna’s Fenty Beauty line) or the “slip” of their moisturizer, consumers expect to mix and match different products/brands to get exactly what they want.
BEAUTY OILS
These are still a huge skin care trend. Other than the rising popularity of cleansing oils, you’re also likely to find an oil for any one of your beauty needs – even to beat oily skin! Watch for oils that protect and moisturize face, lips and body as they continue to be reinvented and improved on.
BEAUTY GADGETS
Derma rollers/facial rollers designed to help make skin care more effective have been benefiting from consumers’ desire to get the most from their products. Ranging from ice or needle rollers to jade and quartz, these tools also help consumers recreate the spa experience at home.
SMALL AND FAST
Convenience is hot, whereby miniature or travel-sized products have gained popularity, along with “just-add-water” options such as skin care in powder or film form.
MASKED BEAUTY
The mask craze is far from over. Charcoal masks and unique clays are popular. Masks with silt from remote lakes and volcanic ash, as well as “dry masks” are all the rage and these too keep being reinvented and improved on.
SUN PROTECTION
Skin protection is a growing concern worldwide with special attention to products that promise to shield consumers from sun and pollution, thanks to warning from experts on the dangers of overexposure to the sun’s rays. UV-filtering antioxidant products are popular as the ozone shrinks and more people congregate in urban centers.
LASHES THAT STAND OUT
Now that consumers have done everything possible to their brows, the focus on eyes is now how to make one’s lashes stand out. Pinterest says searches for “lashes” are up 152% and with new mascaras launching seemingly every day, there’s no shortage of product to fulfill customers’ needs. Bright eyeliner and eyeshadow are popular as well; Pinterest searches for “bright eyeshadow” are on the rise.
GLITTER ‘N’ SHINE
Speaking of eye-catching looks, glitter is also sought after. Whether it’s crystals, jewels or actual glitter on the eyelids, or golden highlighter or even glittery lip glosses, consumers want stuff that sparkles.
NAIL ART & NAIL TREATMENTS
Nail art shows no signs of fading, although designs are becoming more minimalist. Mintel Market Research says the nail treatment category is especially hot, as consumers seek to care for their nail health the same way they care for their skin.
THE ‘CLEAN’ LOOK
Last but far from least, clean-looking or ‘nude’ cosmetics continue their climb. The latest trend, according to Future Marketing Insights, is “clean color cosmetics.” Offering natural formulations, these products offer full coverage, and plenty of staying power.
