The trends set to shape the beauty industry in 2024
Artificial Intelligence (AI), beauty linked to mental wellbeing, and an emphasis on product efficacy and simplicity are set to be the top trends in the global beauty and personal care sector in 2024 according to Mintel.
The consumer experts have issued their annual report into Global Beauty and Personal Care Trends, identifying NeuroGlow, Beaut-AI and Sophisticated Simplicity as impacting upon the industry over the coming 12 months.
KinShen Chan, Mintel's Senior Beauty and Personal Care Analyst, South APAC, explains the three trends below:
“The mind-body connection is critical in elevating beauty's role in overall wellbeing. As our understanding of this connection deepens, brands will look to offer a comprehensive approach to beauty, improving external appearances and enhancing mental and emotional well-being through technology integration, partnerships, inclusivity and personalisation. Practices such as psychodermatology (exploring the relationship between psychological well-being and skin health) and neurocosmetics (which focuses on the mind-skin connection) will gain traction.
"Meanwhile, wearable devices will provide real-time feedback on stress levels and skin health, strengthening the mind-skin connection. Advanced data analytics, DNA testing and personalised algorithms will enable brands to innovate customised beauty products and regimens tailored to individual mental and physical needs.”
Where you'll see this…
Image Skincare's Biome+ range (pictured) presents a shift towards neurocosmetic and psychodermatological beauty with a formulation of Ashwagandha plant known for its stress relieving properties, microbiome-friendly Squalene and adaptogenic plant extracts.
Peace & Pure's Timeless Elixir Facial Serum offers an anti-ageing properties based on neuroscience research, with signature ingredient, PhytoNeuro Complex, claiming to block cortisol production in the skin, supporting mental relaxation by improving keratinocyte proliferation and dopamine release.
“AI is revolutionising the beauty industry, accelerating product development and promoting inclusivity. By analysing data, learning patterns and generating insights, AI is addressing ethical concerns and speeding up new product development. Brands should leverage information, like customer feedback on social media, to identify gaps and create innovative products tailored to specific needs.
“Going forward, expect to see AI enabling highly tailored beauty experiences based on individual preferences, genetics, environments and lifestyles as well as assisting with precise skin analysis, personalised product recommendations and real-time wellness monitoring.”
Where you'll see this…
Takara Belmont has developed Ecila (pictured), an AI-equipped smart mirror designed for hair salons that provides clear images both as a mirror and as a display to help stylists communicate better with their clients and them entertained.
Japanese tech brand Ya-Man's Hakei facial device uses AI technology that generates optimal waveforms to assist product penetration into the skin.
“Consumers are increasingly seeking products that prioritise efficacy and functionality over extravagant packaging and flashy marketing campaigns. Today's consumers are looking for transparency; they are more inclined to seek justification for premium pricing based on tangible results rather than superficial factors. Research, clinical studies or certifications to substantiate their claims of effectiveness will gain credibility and trust.
“We are seeing a new wave of 'new-age minimalism' and 'coded luxury' as consumer focus shifts away from amassing an extensive collection of products to curating a carefully selected range of high-quality essentials. Brands that focus on innovation, expansion and eco-conscious practices are set to achieve growth. Expect to see companies invest in advanced formulations, cutting-edge ingredients and technologies for targeted solutions.”
Where you'll see this…
French brand Hilo's Ma Crème Visage face cream (pictured) is a neutral base cream with a selection of six active ingredients, three of which can be combined into the cream allowing for more than 50 customised combinations. It also comes in a reliable glass jar.
Shiseido has reformulated its Eudermine skincare range, for the eighth time since launching in 1897, simplifying the formulation to include fermented Kefir extract made from Japanese rice with ActiveRED technology that helps skin absorb what it needs.