With the dawn of the new decade, the beauty industry is set to evolve once more. From the rise of inhalable beauty and trichology to expanding exclusive beauty, the beauty industry is set to become more transparent, more tech-savvy, and more personalized than ever before.
In this report, we highlight the top beauty trends to watch in the coming years.
- Expanding Inclusive Beauty
Since the launch of Fenty Beauty in 2017, ‘inclusive beauty’ has become highly popular in the beauty industry. It has encouraged the inclusion of new demographic markets which have become increasingly important for the beauty industry to target.
Below, we highlight a few markets that have become essential to defining the future of ‘inclusive beauty’.
- People of Color. Though there has been a lot of buzz around more effectively targeting people of color in the beauty industry, there is still a lot more to be done. Beyond Fenty, there are several inclusion-focused brands, such as Live Tinted and Mented Cosmetics that have been launched. Other companies are also making inclusive beauty a part of their brand value proposition.
- Boomers. Though the beauty industry tends to market their products toward millennials and Gen-Z, there is a big opportunity in meeting the needs of baby boomers. Unfortunately, though they represent one of the most affluent segments, beauty brands have tended to ignore this demographic. According to reports, 70% of women aged 40 years old and above want to see more products for perimenopausal and menopausal women. Luckily, brands are starting to take notice. So, be on the lookout for more beauty brands releasing products suitable for boomers.
- Male Personal Care and Beauty Products. Historically, mainstream media has predominantly targeted women when it comes to beauty and grooming products. However, more options for men’s personal care and beauty products have been emerging.
Pharmaceutical and personal care companies have been selling male-focused products like hair loss prevention pills and razors for years. Now, many of today’s beauty and health brands are refreshing their packaging and introducing new products to attract a new generation of male consumers. Today, more and more companies offer holistic male products, offering a selection of skincare, hair care, and supplement products.
- Inhalable Beauty
Vaping might have a bad reputation, but inhalable beauty might actually be good for your health. Studies show that there is a connection between our mind and our skin; in fact, there is a whole branch of dermatology known as psychodermatology. Psychodermatology involves the use of psychiatric and psychological techniques in the treatment of skin disorders by addressing the interaction between the mind and skin.
Experts are saying that the future of fragrance will be utilizing scent to ‘biohack’ our minds and bodies to perform better. In fact, this is something that wellness brands such as Nue Co. is already doing with their Functional Fragrance – a perfume that smells good and works to calm the user down during stressful times. Scentee, a Japanese brand, has developed a next-gen diffuser that can be programmed from an app on your phone to release 1 of 4 different scents depending on your mood. You can also program it to automatically release scents at specific times each day, such as an energizing scent to greet you as you wake up.
Expect to see more inhalable beauty products this 2020 – with new products from inhalable supplements, scented mood enhancers, functional fragrances, and next-generation essential oils.
- Connected Beauty Systems
Smart devices are everywhere – and smart beauty devices are only getting smarter. Statistics show that the global beauty devices market is forecast to surpass $34 billion by 2024! This is driven by the explosion of skincare within the beauty sector, the increasing prevalence and treatment of skin disorders, and the increasing awareness of how hormonal imbalance affects the skin.
However, it’s not just standalone devices and apps – brands are also developing connected beauty systems to gather behavioral data on shoppers, personalize skincare treatments, and foster loyalty within brand-powered beauty ecosystems.
Big beauty corporations have been eager to showcase their cutting-edge technologies. For instance, in recent years, L’Oreal has developed wearable sensors to monitor skin pH levels and sun damage. Shiseido’s Optune, an IoT-powered skincare system, assimilates a mobile app that utilizes AI technology to detect the users’ skin condition and then dispenses a personalized formula every day. Other major players like Shiseido, Johnson & Johnson, and P&G have also unveiled their own tech-enabled systems.
As these technologies become more prevalent, expect to see beauty devices become more affordable and for connected beauty systems to become more mainstream.
Trichologistas have gained increasing popularity in recent years. For a while now, hair has taken a backseat to skincare and makeup. However, trichology has been gaining momentum and 2020 is its year to shine.
Not familiar with trichology? Essentially, it is the branch of medical and cosmetic study and practice that focuses on the hair and scalp – a ‘trichologistas’ are the new beauty gurus to watch.
Experts predict that we are going to see a major shift towards hair care this decade. Furthermore, pre- and probiotics have always been popular when it comes to skin and gut health, but expect to see more pre- and probiotic hair care products popping up in 2020.
- Plant-Based Ingredients
From food to beauty products, plant-based ingredients have become more and more popular in recent years. Ingredients trending in food brands – including coconut oil, moringa, green tea extract, and turmeric – have long been integrated by beauty brands and vice versa.
Reports show that more and more people are choosing plant-based products, so expect to see more of it this decade. For instance, brands like Farsali promote Halal beauty; this means that their products must not contain alcohol, animal products, and must be cruelty-free. Other brands are also developing synthetic ingredients with the same composition as natural products in an effort to protect the environment.
- Virtual Try-On
Want to know whether that foundation matches your skin tone without actually trying the product on? This is where the virtual try-on technology can help! By combining both computer vision and augmented reality, virtual try-on allows shoppers to virtually test out different looks without actually using the product.
Virtual try-on also serves a second purpose – it provides behavioral data for brands. This technology – which collects various data points around facial characteristics like skin tone, face shape, and more – can help companies determine what types of products people with specific characteristics are more likely to purchase. It also personalizes the mobile shopping experience by improving product discovery and capitalizing on a persons’ social media behavior.
The Bottom Line
The beauty industry is constantly evolving. Global events, cultural shifts, and increasing demand for better products will continue to play a crucial role in the future of the beauty industry.
While new beauty products and techniques continue to emerge – such as inhalable beauty products and trichology – new and improved technology applications in the beauty industry are on the rise as well. Technologies 3D printing and AI will continue to make the beauty experience more efficient and personalized for consumers.