The future may be hard to predict, but Mintel Beauty & Personal Care has placed its bets on what the industry can expect within the next ten years. Specifically, the market researcher company has outlined the four key trends they believe will impact global beauty markets in the next ten years.
Mintel’s global president of beauty and personal care division Jane Henderson comments on the findings: “We think the coming years will bring stark contrasts in personal technology and natural ingredients that will drive beauty innovation over the next decade. Already, beauty manufacturers are working on new generations of beauty products that will satisfy consumers’ needs for speed and efficacy.”
Mintel’s top four trend predictions include:
1. Augmented reality
Mintel’s director of insight Vivienne Rudd explains: “As consumers become increasingly familiar with using technology to track their health and wellbeing, they are looking for beauty brands to offer products and devices that boast similar functionality. New product development in augmented reality is providing the next step in virtual mirrors and real-time visualisation of the effects of beauty products on the skin and hair.”
2. Water
Mintel believes water will become a precious commodity as a result of decreasing water availability and increasing population. As a result, beauty brands will be forced to reformulate products to limit their dependence on the source, making it a luxury ingredient.
3. Energy awareness
Growing recognition of carbon footprints will begin to noticeably affect the beauty industry. This will see brands reassess their personal output and utilise these energy claims to target consumers.
4. The artisan and DIY
Artisanal and traditional creation methods are expected to rise in popularity. Rudd comments: “Traditional beauty and personal care remedies are moving into the mainstream as more and more consumers start to ‘cook up’ their own versions. Brands will need to shift their focus to highlight artisanal processes while also making it easier for consumers to make products at home. Looking at the decade ahead, we’ll see brands borrow inspiration from the meal kits developed by food companies, propelling the subscription beauty box model to the next level.”
