IMCD has released Tomorrow’s Beauty, a trend commentary for the personal care industry, highlighting the following trends.
1. Positive Impact
Consumers are redefining value through the impact their purchases have on the world. They are choosing brands that demonstrate a commitment to societal values and a sustainable and conscious approach.
Consumers want to be considered and respected for what makes them different. When it comes to cosmetics and personal care, beauty shoppers expect brands to demonstrate inclusivity towards a product offering that perfectly meet their aspirations and needs, while respecting their individuality.
Growing health concerns have led consumers to demand more transparency from brands and easy access to information.
Millennials are preferring life experiences over the act of buying goods. Consumers are experiencing powerful emotional connections to brands that are creating a point of differentiation in this regard.
Irene Cantos, business group director, IMCD personal care explains, “With this commentary, we want to share our view on the current key market drivers that, according to our experts, will continue to impact the beauty industry in 2021 and beyond. We are happy to share this knowledge, along with some of the Formulation/product concepts developed in our network of dedicated personal care laboratories, to continue inspiring our business partners with innovative products that align the consumer’s macro-trends with the regional and local needs. Together, we shape the beauty of tomorrow."