We can’t deny the $271 billion global beauty and skincare market has come a long way. Inclusivity, sustainability and gender neutrality have become key topics and focus points for brands in the category. We’ve also seen an increase in popularity in clean beauty products, which now generate $400 million in annual sales, with the segment growing at a faster rate than the total beauty and personal care market.
While the evolution in product offerings is positive, much of the narrative and the way products are sold to us have remained the same. Overall marketing messaging still focuses on self improvement over self care, leaving many consumers feeling like trying that new product or treatment might make us more beautiful or worthy. Social media plays into this too. We’re pushed from one trend to the next, with imagery that isn’t real in the first place. The truth is, many brands believe the reason we buy into skincare lies in us wanting to improve ourselves or look good for others. And while that might be true for some, many of us are longing to change the narrative. We want to invest in brands and products that align with our values, that support overall health and most importantly, that makes us feel good about ourselves. Some are playing into this shifting consumer mindset, creating brands and products that take a more holistic approach to wellbeing. From skincare that supports the microbiome, to supplements that support overall health as well as our skin, hair and nails.
We asked three industry insiders for their take on the beauty and personal care market, the narrative around self improvement and the realities of building a purpose-led brand.
THE STATUS OF THE NATURAL BEAUTY AND SELF CARE MARKET