The beauty industry is a rapidly growing and ever-developing market. Consumer hypes are typically around the new must have product, however over the last year we have seen a growth in trends which steer away from a new branded product. In fact, when it comes to beauty, consumers are heading towards sustainable items, transparent product origins as well as personalized make-up.
Demand for sustainable products across all industries has seen a significant increase throughout 2020. Millennials and Gen Z are becoming increasing aware of the social and environment impact on their purchase decisions, hence seek out sustainable products where they can.
As the next generation of beauty shoppers, it is fundamental for cosmetic brands and producers to strive towards 100% transparency on a products origin. Starting small with re-usable or re-cyclable packaging is a small step is draw in this key consumer segment as there is clear evidence that environmental factors are being considered, overall increasing consumer confidence.
Vegan products have popped up across industries as ‘veganism’ is now more than just a trend, it is an everyday lifestyle people are adopting for numerous reasons from animal welfare, costs of living or purely due to the health benefits of being vegan.
During 2020, we have seen several new vegan beauty brands appear through digital mediums and their success has soared. Hence, producing a line of vegan beauty products may attract vegan conscious consumers. As vegan beauty products are readily available, there is no clear sign of them switching back to their old purchasing habits.
Shopping for much-loved beauty essentials has revolutionized during the 21st century, it started with personalized recommendations, individual make-up service in-store, to specific foundation color matches and now, it has reached a new level of personalized skincare using DNA.
DNA tailored skincare is the new way to target specific skin issues as this can digitally track usage overtime to understand if the product formula is adequate for your skin. This technology can tackle issues from acne, dryness, redness, wrinkles, dark circles and much more.
The men’s beauty market is an industry awaiting a boom and this year we have just started to see significant growth in male grooming brands. Companies have re-devised their strategy from promotional campaigns, product and where consumers can buy them.
Brands in this category are either made only for men or have introduced a men’s only line of beauty products. This has been seen from high street names to luxury end beauty brands. Bouncing on masculinity and developing awareness of grooming needs for males, the popularity of this has soared transforming this market into a new chapter and normalizing beauty products for the male gender.
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