Wellbeing. It’s a word that most of the green smoothie guzzling, yoga loving, mantra chanting members of the 21st century are well acquainted with. The category of wellbeing is also now proving to be one of the most profitable arenas of the beauty industry - currently worth around US$700 billion and expected to reach the trillions by 2019.
During the CEW Global Trends Report presentation, executive vice president of The Future Laboratory Claire Hobson declared: “Holistic health is one of the biggest trends across all categories at the moment. It’s important that when we talk about cosmetics, we talk about beauty, we talk about wellness and we talk about health in a converged environment now. It’s not about being perfect. It’s about feeling good and looking good.”
Global beauty industry analyst at NPD Karen Grant believes the change has come as a result of educating the community on the importance of wellbeing, and how beauty and health are intertwined. She is also of the stance that the popularity of wellbeing will take time, as there are still consumers who do not recognise its importance.
“Health and beauty are intricate, but it does take a more educated and really engaged consumer to realise that and commit to that because it is a choice. A lot of people do still go for the quicker fixes of things, but there’s a continued growth in natural brands because they also speak to these consumers as well,” says Grant.
Need proof? Just look at the ever-expanding repertoire of supplements, powders, elixirs and health offerings flooding the market.
