There are four 'macro-trends' impacting the global colour cosmetics market which is expected to reach an astounding US$48.3bn this season, based on new research from Mintel.
Revealing the market intelligence agency's latest findings at in-cosmetics Global, Mintel's global colour cosmetics analyst Charlotte Libby said the very best five colour cosmetics markets set to experience 6 % growth this season were the united states ($12.1bn), Japan ($6.4bn), China ($5.1bn), the UK ($2.7bn) and South Korea ($ 2.2bn).
However, she stressed that markets would be influenced by the 4 “hottest macro-trends” – social media, sustainability, transparency and hybridisation.
Vlog me beautiful
- 41 percent of Chinese colour cosmetics users' purchase decisions suffer from beauty bloggers and vloggers
- 66 percent of UK women aged 16-24 say it's not hard to learn new beauty techniques in the internet
“The success of influencers has shown that people purchase the personality, and not the products. It has become more important for brands to have a personality, to showcase their founders, and tell their story to be relatable for consumers. Social networking gives brands a method to give customers behind-the-scenes access to their culture.
“As fashions change, new 'selfie-friendly' zones of the face are experiencing more attention. Eye make-up is moving away from the lids, with the brow bone and inner eye corners growing in popularity as focus points for bright and bold colours. Meanwhile, the Youtube-born 'boy beat' complexion trend is catching on, encouraging make-up users to change to sheer bases and embrace so-called flaws such as freckles, pigmentation or dark circles.”
Focus on sustainability
- 66 percent of UK female beauty buyers aged 16-24 want retailers to provide them more details about which beauty products are environmentally-friendly
“The beauty industry's shift towards natural and organic products have a unique impact on colour cosmetics, leading to increased attention on product origin and quality of ingredients. Brands will be expected to demonstrate their ethical policies and consideration of resources and alternatives. For instance, many glitters present in colour cosmetics contain non-biodegradable microplastics. As consumer awareness around the negatives of microplastics grows, glitter in make-up is going to be subject to more scrutiny.
“Consumers are drawn to brands that act responsibly. Attempting to lessen the carbon footprint by tackling waste is an area in which colour cosmetics brands can innovate. Alternative materials like bamboo, coconut husk and rice bran happen to be a growing trend in packaging. In addition to appealing to consumers looking for environmentally-friendly products, they've the additional benefit of being bold on the shelves where plastic and glass is the norm.”
Millennials seek transparency
- 39 percent people women aged 18-34 think brands that support charities are attempting to make themselves look better
“As global politics becomes more divisive, consumers desire to be sure the companies and brands they buy from align with their personal views. As a result, progressively more brands are earning their political views known and starting more action-led initiatives, for example charitable donations. This trend is anticipated to become more widespread in 2022. Rather than just offering products, brands need to provide a method to offer the world.
“While younger audiences are most likely to search out brands that align with their beliefs and values, they can be also probably the most cynical, fearing charitable brands are disingenuous. Consumers need confirmation this is really a genuine positioning. Hence, a method involving charitable donations needs to be long-term and treated appropriately, becoming area of the core business of the company.”
Make-up meets skincare
- 67 percent of Chinese women want to minimise make-up steps
- 41 percent people female beauty buyers are interested in multi-purpose beauty products
“As consumer demand for make-up with skincare benefits increases, there is more opportunity for brands to build up hybridisation between categories. As part of growing concerns around pollution, face make-up can behave as another layer of protection. Hence, it is important that colour cosmetics incorporate skincare benefits such as hydration and UV protection. Probiotics in addition have a chance to grow; a prominent trend in skincare, connecting good bacteria to healthy skin, they're increasingly being utilized in colour cosmetics too.”
