Which Latest Trends in the Cosmetics Industry Should Businesses Adopt to Stay Ahead of Their Peers?

Highlights:

• Introduction
• The rise of green cosmetics
• Increasing adoption of advanced technologies

With the rising emphasis on skincare routines, haircare, personal beauty, and makeup, the cosmetics sector has grown in the past few decades. At the same time, the presence of multinational cosmetic companies that are continuously investing in R&D activities has also played a key role in the growth of this industry. The R&D activities pursued by these companies have led to certain new developments that are expected to change the dynamics of this domain in the years to come.

Green cosmetics: an eco-friendly solution to reduce the industry’s carbon footprint

A major trend witnessed in the cosmetics industry is the rising consumer awareness and demand for environment-friendly cosmetic products. Also, surveys have shown that customers across the globe prefer cosmetics that have natural ingredients and are manufactured using recyclable packaging. The growth in demand for body creams, facewashes, and lotions manufactured using organic formulas has also transformed the industry in the past few years.

The primary reason behind the growing adoption of green cosmetics is that they cause less irritation to the skin as compared to conventional cosmetics. Also, skincare studies have found that conventional, chemical-based cosmetics are likely to trigger allergies in people who have sensitive skin. Green cosmetics are made from 100% natural, herbal, biodegradable, recyclable, and cruelty-free ingredients, and have lower toxicity and transparent production practices.

In the past few years, many beauty products manufacturing companies have started using oleochemicals for developing lotions and creams. Oleochemicals are those chemicals that are sourced from plant and animal fats; the use of oleochemicals instead of petroleum products has made these beauty products more environmentally sustainable. Similarly, natural oils like olive oil, palm oil, and coconut oil are used instead of synthetic chemicals as base materials for these beauty products.

Analyzing the use of advanced technologies in improving the customer experience

Recently, L’Oreal announced an online campaign for its customers to aid them in deciding the color of Colorista Permanent Gel hair color that would suit their style. For this, L’Oreal used augmented reality (AR) technology to help customers try out new hair colors without applying them to their hair. Similarly, Aveeno, a beauty and skincare products manufacturer, launched a campaign with the help of AR technology which allows customers to understand the production processes that are used to manufacture different cosmetic products. Many other skincare and haircare manufacturers have started developing software applications for harnessing the power of advanced technologies like augmented reality to enhance customer experiences and boost brand loyalty.

In the past few years, the demand for personalized skincare solutions has increased. To address these evolving demands, beauty products manufacturers are using Artificial Intelligence and data science techniques to develop tailor-made products with suitable formulas that will meet the specific needs of the concerned customer. Thus, a customer can state his/her skincare problems like acne, skin dryness, excessive oil formation, etc., according to which the cosmetics company will recommend a skincare product that perfectly suits the customer’s skin type.

Some companies have gone further and have started using technologies like cross-polarized UV lighting and similar other 3D innovations to determine the skin type of the customers themselves. Thus, from being just a beauty product manufacturer, these companies have launched comprehensive skincare regimes to determine the condition of the skin with the help of different parameters. Recently, in February 2024, SQIN, a cosmetics startup based in Germany, launched an AI-based skin health monitoring software application that recommends the users with skincare routines that are specifically designed for their skin types. It also provides trackers with which users can monitor their skin health. Also, the app provides daily tips for keeping the skin healthy and nourished. Customers can also directly order skincare products using this app.

To sum it up, the cosmetics sector is expected to undergo a massive transformation in the next few years due to the emergence of several trends in the industry. Almost all the major players in the domain are adopting these trends to enhance the quality of skincare and haircare products, while at the same time improving the customer experience.

For tips and suggestions on how your business can capitalize on the opportunities offered by the market, feel free to contact us.

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