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What Will Prestige Beauty Look Like in the 2020s?

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Larissa Jensen, vice president, industry advisor, Beauty at NPD Group, has shared her beauty industry predictions for the 2020s in a blog post titled "The Face of Beauty in This New Decade."

Jensen stated in the post, "Having observed the beauty industry for over 20 years, I have watched a complete turnaround in how products are marketed and sold. What has remained constant, however, is consumer enthusiasm for beauty, whatever beauty may mean to them at any given time. Even as the industry continues to evolve, and as consumers continue to drive change, beauty will always be about how it makes us feel. Emotion is at the very core of the beauty industry’s identity. This is what has fueled it since the beginning of time, and what will propel it through the 2020s and beyond."

4 Predictions for Beauty in the 2020s

  1. Expect a makeup rebound. Per Jensen, as social media embraces user authenticity, color cosmetic's growth will come primarily from "canvas" products that help achieve a more natural look. 
  2. The growth of natural skin care will slow down. While growth and consumer interest in the category remains strong, natural skin care has grown to be one of the largest brand types in prestige skin care. When something becomes that big, growth will inevitably slow, Jensen wrote. She urges brands to consider natural and clean opportunities in both the makeup and fragrance segments.
  3. Sustainability will be catapulted into the mainstream. Jensen predicts that clean products will capture the spotlight as consumer expectation fuels companies to create safer formulas for our skin and the environment. 
  4. The 2020s will be about disconnecting. Jensen stated that as consumers begin to focus more on human connection, self-awareness, mental health and wellbeing, opportunities in beauty will emerge across new categories.

For the full blog post, please visit www.npd.com.