In 2021, the market size value of global skincare products was USD 130.50. It will expand at a compound annual growth rate (CAGR) of 4.6% from 2022 to 2030.
This industry ranges from makeup, skincare, oral care, hair care, and baby skincare.
People spend ensuring that they look their absolute best.
What are the trends in the personal care industry? How can we enjoy knowing about these trends and jump on the bandwagon?
This trend is only going to grow, so keep an eye out for products made for you. Let’s dive in!
K-Beauty Movement in the Personal Care Industry
K-Beauty is an umbrella term for skincare products that are derived from South Korea. The pursuit of a healthy glow is very popular in K-Beauty.
Being confident in your own skin and focusing on healthy skin are the main trends in Korean Beauty. A key trend is sustainability. Consumers are looking for personal care products that have a smaller carbon footprint.
Packaging innovation is another key trend. Brands look to stand out on store shelves with unique packaging designs,
Rise of Natural & Organic Products
A natural product is anything that is produced by life and includes biotic materials.
Organic products are grown without the use of synthetic chemicals, such as human-made pesticides and fertilizers, and do not contain genetically modified organisms (GMOs).
Consumers are becoming more aware of the ingredients in their products.
They are looking for items that are free of harmful chemicals. They also prefer cruelty-free products found in the market.
Shift to Clean Beauty
The increasing popularity of self-care and wellness is a key trend to watch.
Both baby boomers and millennials drive this trend. They are looking for ways to feel better and improve their health and appearance.
The personal care industry needs to be aware of the trend toward digital and social media marketing. Consumers are turning to blogs and social media for information about personal care manufacturing products.
Growth of Men’s Grooming
According to a report by Persistence Market Research, the global market for men’s grooming products should grow by 6.4% in 2021.
It is expected to accelerate at a healthy 8% Compound Annual Growth Rate (CAGR) over the period 2021-2031. It is above the annual growth of 3.5% recorded from 2016 to 2020.
Demand for Personalization
Finally, the personal care industry is starting to see a move towards more personalization. Consumers want tailored products to meet their specific needs and skin type.
There is now a multitude of options for consumers to choose from. Supply chains are prepared for these trends.
Immerse Yourself in these Trends
Over the past few years, we have seen some major changes in the personal care industry. The industry has been through a lot of changes. From new product launches to mergers and acquisitions.
Whether for business or for personal use, research these trends to make an informed decision.
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