What Are Some Of The Trends Expected To Drive The Future Of The Beauty Market?

by Trefis Team
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We expect the global makeup, skincare, and hair care market to grow as follows:

global market trends two

The major trends that are expected to influence the beauty market in the future are as follows:

  • Increasing Technological Dependence

Along with the increasing dependence on technology in their daily lives, consumers are becoming inclined towards beauty brands that are also technologically advanced. Major players in the beauty sector are increasing their investments in digital initiatives. The global beauty leader, L’Oreal’s digital initiatives include launching beauty apps, developing flexible wearable electronics to collect and transmit data from the body, and the extensive use of social media marketing. Currently, the company is aiming to link its products via the Internet of Things (IoT). Reminding consumers to use their products, tracking frequency of usage, and feedback on the impact of the product on the user, could prove to be valuable features to attract more users in the future.

  • Rise In Demand For Cosmetics That Requires Minimum Water Usage

Along with the scarcity of water across the globe over time, more consumers will prefer products that require no water or minimal amount of water. The rising demand for products such as facial wipes, dry shampoos, and non-rinse body washes are an indication towards this trend.

  • Increased Demand For Organic Beauty Products

Customers are becoming more conscious about the ill-effects of chemicals and preservatives on their skin and bodies. Hence, the demand for herbal and organic products is on the rise. The organic personal care market across the world is expected to increase from ~$8.5 billion in 2013 to around $16 billion by 2020.

 

Have more questions on L’Oreal? See the links below.

Notes:

1) The purpose of these analyses is to help readers focus on a few important things. We hope such lean communication sparks thinking, and encourages readers to comment and ask questions on the comment section, or email content@trefis.com
2) Figures mentioned are approximate values to help our readers remember the key concepts more intuitively. For precise figures, please refer to our complete analysis for L’Oreal
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