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In this article, we discuss the 3 most important cosmetic trends in skincare for 2023 and 2024 as announced by Mintel. Sophisticated Simplicity, NeuroGlow, and the involvement of artificial intelligence (AI) in cosmetic product creation – which of these trends will leave the biggest mark on the cosmetic industry and contract manufacturing sector?
Mere claims of effectiveness or the properties of cosmetics will no longer suffice. Consumers will scrutinize the effectiveness of the cosmetics offered by companies. As a result, cosmetic products with a researched and thoughtful composition will gain the most popularity. The dominant trend will be the use of natural synthetics in production.
How will cosmetic brands keep up with consumers’ high demands? Implementing health risk diagnostics, DNA sequencing technology, and 3D printing, currently aiding in medicine, will become technologies improving the cosmetic industry. Cosmetic brands and contract manufacturers will utilize hormones, personalized vitamins and supplements, and gene editing technology. Synthetic biology technology will develop, enabling the creation of new products. This technology will become a tool facilitating the production of each ingredient in line with sustainable development principles and allowing for a reduction in production costs. Wearable devices (e.g., smartwatches) will take the lead, becoming a significant link in the cosmetic industry and a tool for engaging consumers in interaction.
Self-care is a concept related to the well-being of every individual, manifesting in taking care of oneself both mentally and physically. Self-care aims to maintain balance in every individual’s life. As predicted by Mintel, the individual approach to well-being will weaken in favor of realizing the concept of self-care through community care. Consumers will want to be part of a group with similar interests and problems, emphasizing belonging to that group. Caring for relationships in the group and mutual assistance will be a way to improve the mood and well-being of all its members. This will mark a significant turn in social life – individualism driven by the popularity of the online world, the fast pace of life, and the weakening of traditional human relationships will change into a greater need for socialization and fulfilling one’s own needs through helping others. Cosmetic brands will introduce new holistic products, with preparations for improving circulation and sleep gaining popularity. Health and beauty-supporting cosmetic products will be the segment enjoying the greatest popularity.
Consumers will be engaged in figital experiences – combining physical and digital experiences. This will affect the way cosmetics are purchased, new product searches, or building relationships with brands. Brands will use RFID technology (radio frequency identification), digital avatars, and the metaverse. There will be synergy between different channels, introducing the consumer to a new level of technology and shopping experiences. This will blur the boundary between online and offline formats. The dynamic development of virtual reality technology, which will become widespread, will be noted.
Sophisticated Simplicity, in free translation, means refined simplicity. Sophisticated Simplicity is a new trend characterized by the production of high-quality cosmetics with an effective and minimalist composition, based on carefully selected ingredients. This means that consumers pay attention to the quality of the product, functionality, tangible results of the cosmetic’s effectiveness, and the brand itself becomes less important to them. Consumers appreciate transparency – they read labels in search of sustainable ingredients, certificates, or credible clinical studies. This creates ample room for private label brands, “dupes” counterfeits, and diminishes the significance of large cosmetic corporations.
How will Sophisticated Simplicity impact the cosmetic industry in 2024? Consumers will not fall for hollow products whose only value is a high advertising budget or elegant packaging masking the mediocrity of the cosmetic. Consumers will want to reach for innovative products, and this innovation must be tangible and measurable for them. Ecological, fair trade, and sustainably sourced products will sell best. Advanced formulas, innovative ingredients, and technologies will come to the forefront.
The “neuroglow” trend involves combining cosmetology with psychology. This refers to psychodermatology and neurocosmetics. The former studies the connection between mental well-being and skin health, while the latter examines the correlations between well-being and the skin. The Neuroglow trend responds to the demand of consumers who seek products that not only address skin problems or improve external appearance but also impact their well-being and mood.
The third trend shaping the cosmetic industry will be artificial intelligence, becoming a crucial tool supporting the creation of services and products. AI can analyze customer opinions on social media, better understanding user preferences. AI will enable precise skin analysis and real-time monitoring. Artificial intelligence will play a significant role in creating personalized cosmetics that take into account factors such as the environment, genetics, lifestyle, and individual consumer preferences.
Worth Global Style Network (WGSN) and Coloro (a trend creator in the field of future colors) have announced that the color of the year 2024 will be Apricot Crush. Apricot Crush is expected to blend well with beige and ecru colors. It is characterized by a playful character, making it perfect to combine with joyful skincare products. According to WGSN and Coloro, the color embodies regeneration, refreshment, and energy, making the use of eyeshadows or lipsticks in Apricot Crush also have therapeutic effects, improving mood and overcoming difficult emotions. The versatility and inclusivity of Apricot Crush will make it ideal for various styles and occasions. The positive associations of the color will complement technological products created with a focus on health and well-being.