In 2021, there has been an increase in skincare awareness as we all continue to make it an important part of appearance, health, well-being and protection. The skin care industry is gaining popularity with its new products that contain key skin care ingredients that protect and rejuvenate the skin. In 2022, more consumers will accept effective ingredients based on their skin’s needs. People will continue to seek out products that contain substances that they believe improve the appearance of their skin. Consumers want to know more about the effectiveness of these ingredients, which is why online searches for individual active ingredients will continue to increase.
Sunscreen will continue to be in high demand this year. UV protection is widely advocated and highlighted by dermatologists, cosmetologists and other experts as one of the most critical skincare requirements. Consumers continue to seek out items that don’t just offer solutions; they want products that protect them. Consumers are increasingly aware that they need to protect themselves not only from UV rays, but also from blue light, smoking, smog, pollution, germs, bacteria and viruses. Therefore, manufacturers need to focus on more specialized sunscreens, blue light protection therapies, antioxidant serums and antimicrobial new products.
The use of cosmetics and skincare products in Asia-Pacific has increased significantly, placing this region at the forefront of the industry for the best skincare products. The region is home to some of the most prestigious beauty markets in the world and generates significant sales and spending on skincare products, accounting for approximately half of the global cosmetics industry. The significant expansion of the beauty industry in Asia-Pacific goes hand in hand with the growing popularity of organic skincare in the region and is expected to attract global brands to the natural skincare market with a plethora of opportunities. in 2022.
Formulation changes and new consumer experiences are redefining the market. The use of herbal medicines is growing as natural skin care and cosmetics increasingly take hold on the market. The skincare ingredients space is undergoing a paradigm shift. The European Union (EU) is considering banning several ingredients. Consumer preference for natural alternatives has driven demand for organic skincare regimens in recent years. Furthermore, the “green beauty” and “clean beauty” trends are encouraging cosmetic chemists to create formulas based on traditional and local substances.
Market players are focusing on skincare products and fragrances, while natural hair and skincare cosmetics continue to impact growth plans. According to another study by Future Market Insights, the color cosmetics market will be supported by the growing demand for natural and organic cosmetics. As a result, the volume is expected to increase by 4.5% until 2031.
Beyond ingredients, beauty marketers are trying to limit plastic packaging. As a result,
has become a key driver for skincare product packaging. Manufacturers are concerned about the material used in packaging as customers migrate to low-waste lifestyles. Market players are increasingly aware of the importance of environmental health and are adopting eco-friendly skincare packaging options.
For example, Albéa, producer of cosmetic packaging; Origins, a brand created by The Estée Lauder Companies; and Sabic, a world leader in the chemical sector, have joined forces to bring recyclable cosmetic tubes to market. Consumers are increasingly looking for environmentally friendly solutions, products that are recyclable and/or have refillable packaging, and ethically sourced ingredients in products.
People pursue a holistic approach to health. They select products and services that reflect their own well-being and changing needs. The beauty industry, in particular, is interested in the wellness movement. Self-care is an essential component of biological, mental and behavioral well-being.
Mind and body care is offered through essential oil and herbal therapies. Oil-based skincare products are promoted as beneficial to an individual’s well-being. Additionally, there are now skin care products on the market that are intended to reduce inflammation and muscle tension. Consumer inclination towards health and wellness, as well as product innovation in this area, is expected to fuel the expansion of the market.
Online sales are expected to increase by 10.9% over the next few years. As internet access expands and online sourcing channels such as Amazon and Walmart grow, the skincare market is likely to grow. In addition, Internet chains buy the products directly from the producers, eliminating the intermediaries. Customers are offered discounts by in order to get them to buy online. These efforts are likely to increase online sales.
Soaring demand for greener and organic products is forcing large companies to move away from specialized distribution channels and into mainstream mass-market stores. Natural products have been marketed in significant quantities in hypermarkets and supermarkets in recent years. But now they are available in online stores easily accessible by customers. The valuation of online shopping has grown to $272 billion between 2018 and 2020. This is a major breakthrough for online stores.
Advancements in digital marketing have greatly benefited the global skincare market. By creating informative content about a product’s concept and idea, social media influencers help skincare organizations build stronger connections with existing and new audiences. Using social media to discuss skincare products, treatment regimens, and trends has opened up new avenues. Skincare marketers use YouTube and Instagram for tutorials.
Beauty has always been driven by experience. However, due to the limitations imposed by covid-19, consumers have been forced to purchase skincare products online solely on the basis of photographs. As a result, it was rather difficult for consumers to buy products without first seeing what they would look like. In light of this, retailers have started building destination storefronts, which include a virtual tour for customers. Perfect Corp’s apps. and others allow for a one-time virtual try-on that replicates the brand’s look and feel.
Finally, this year the cosmetics industry is creating and investing in its own Metaverse, blurring the lines between the digital and the real world with gamification experiments, non-fungible token (NFT) artwork, 3D avatars and more. . The technological ways in which companies interact with their consumers are a significant step forward in 2022!
About the Author
Sneha Varghese is a senior research consultant at Future Market Insights. FMI is headquartered in Dubai and has offices in the United States, United Kingdom and India. You can connect with Sneha on LinkedIn.
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