Cosmetics Industry Trends | Spelman College (2024)

If you are looking to take your career to the next level with acosmetic sciencecertificate, it's important to stay abreast of the latest changes and trends shaping the industry. Thecosmetic industry trendsof today will heavily influence the products of tomorrow, and if you are going to be a thought leader in this sector, you will need to be aware of the up-and-comingbeauty industrytrends.

Thecosmetic industry trendsof 2023 wrap science and technology into the world of social justice and equality, creating a dynamic environment for those who want to begin their career in the industry. These are the most influential trends to watch:

Multi-Use Hybrid Products

Gone are the days when consumers wanted to have a drawer full of endlessskincareandbeauty productsto incorporate into their beauty regimen. Instead, today's cosmetics consumers are looking for innovativehybrid productsthat combine both makeup andskincareinto one convenient bottle. These multi-use hybrid products provide superior results in less time, ultimately allowing users to enjoy an effortless cosmetic routine.

Some of the new product formats showing up on the market include:

● Serum-infused makeup, which helps reduce the impact of aging, adds moisture to the skin, and provides a layer of makeup to enhance skin’s appearance.

● Multi-functionalskincareproducts, which tackle several functions at once, such as hydrating and moisturizing the skin, increasing its firmness, and reducing the impact of fine lines and wrinkles.

Sustainable Products and Eco-FriendlyPackaging

Sustainabilityis playing a central role in the modern cosmetics industry, and that trend is not going to fade away anytime soon.Beauty productsand brands will continue to have to prioritize theirsustainabilityefforts as consumers demand eco-friendly products.

More and more people are looking to use cosmetics that were created using safe, locally-sourced ingredients rather than chemical-infused cosmetics that can have a negative impact on the environment. In addition, they prefer to purchasebeauty productsthat are in refillable or reusable containers. Brands that rely heavily on cheap plasticpackagingwill begin to suffer as consumers start to avoid itin favor of products withpackagingthat can be reused or recycled. Waste reduction is a top priority among today's cosmetics consumers.

Push for Clean Beauty and Natural Ingredients

Just a few short decades ago, most consumers didn't even notice what ingredients were in theirbeauty products. They simply took the products at face value, placing an innate trust in the brand to provide them with safe, effective, and reliable cosmetics. While many of these products did offer the desired results, they were also packed full of ingredients that were not necessarily beneficial for people or the environment.

Today, thanks in part toinfluencerandsocial mediamarketing, there is an increased push for cosmetics that are created with safe, non-toxic ingredients. According to MarketResearch.com, this demand has caused topbeauty brandsto begin reformulating their products to eliminate harmful ingredients, resulting in a clean cosmetics industry boom.

Using AI & VR Technology in theBeauty Industry

Prior to the pandemic, somebeauty brandswere just beginning to explore their e-commerce options. It was difficult to get consumers to shop online for makeup andskincareproducts that users typically need to try before making a final decision. However, the need for online shopping increased exponentially at the height of the pandemic, ushering in a long-lasting cultural shift when it came to consumer spending habits and expectations.

Today, cosmetics industry experts are finding that innovativeArtificial Intelligence and Virtual Reality technologyallow them to provide their target audience with a customized experience that instills consumers with the confidence they need to finalize their purchase. AI and VR technology allows users to virtually "try on" makeup andskincareproducts, giving them a realistic expectation of the results and motivating them to complete ane-commercepurchase. Experts agree that AI and VR technology will continue to redefine daily life in many ways, and the cosmetic scienceindustry is no exception.

Emphasis onSkincareTreatments

Some surprising social changes have taken place in the aftermath of the global pandemic, including in thecosmetic scienceindustry. One trend that quickly took shape was the wellness trend, in which individuals began to prioritizeself-careand wellness amid a global health and mental health crisis.

As a result, the demand for skincarebeauty productsand treatments is incredibly high. In fact, theskincaresegment is considered the fastest-growing niche in thebeauty industry.Beauty brandsare looking to develop multi-useskincareproducts that prioritize clean, natural ingredients to take advantage of this growing trend.

Demand for Inclusivity and Diversity

From its inception, thebeauty industrywas notoriously hom*ogenous. Aimed primarily at white, upper-middle-class women, most products were designed with one audience in mind and failed to meet the needs of the diverse range of people who regularly rely on those products.

Today, the bestbeauty brandsrecognize that there is no one type of person who relies on cosmetics andbeauty products. As a result, they strive to create an array of products that are formulated for people of various skin tones and colors as well as those with different hair textures and styles.

Of course, these same brands are also working to acknowledge the fact that people of all genders also want to have access to cosmetics that allow them to look and feel their best. Diversity is no longer an exception in thebeauty industry— it's the expectation.

Rise of Social Commerce

Traditional advertising, such as print ads in magazines and commercials on TV, long held the reins of power in thebeauty industry. Today, however, the ability to influence and motivate consumers to purchasebeauty productslies withsocial mediainfluencers. A high-profile beautyinfluencercan promote one product in just one piece of content, and sales for that product will instantly skyrocket. Recognizing this unique power,cosmetic scienceprofessionals need to work in tandem with TikTok influencers and othersocial mediastars to spread the word about their products. The era of social commerce has begun in earnest, and it's not likely to end anytime soon.

Cosmetics Industry Trends | Spelman College (2024)
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