There’s still room for growth in the natural beauty industry.
By Rieva Lesonsky
A stroll through Sephora, Ulta or your local beauty supply store (places I admittedly visit quite often) would show that the beauty and skincare industry is an entrepreneurial one. There are many established indie brands—and new ones are seemingly springing up daily. If this field interests you, there’s some new research from Mintel revealing a growing trend toward products with “natural formulations.”
Mintel says consumers are interested in “milder, more natural formulations and those that shield against pollution.” In addition, 30 percent are seeking anti-aging products making anti-stress claims.
This trend is highlighted in Mintel’s Global Beauty and Personal Care Trend, showing consumer interest in “food-based and probiotic facial skincare.” The research shows the most interest is in “products with vitamin C (85 percent), fruit-based ingredients (78 percent), oatmeal (78 percent) and honey (76 percent). Further supporting this trend, 72 percent of consumers use or are interested in using products featuring probiotics.”
Mintel warns many products now incorporate anti-aging treatments in their traditional products, resulting in a 6.3 percent sales decrease (from 2014-2015) for specific anti-aging products.
The hottest market segment is facial cleansers, which saw a 4.6 percent increase in sales from 2014-2015 and is now a $1.8 billion industry. Consumers currently are embracing no-rinse cleansers, but complain about the cost and confusing usage instructions for these products. Mintel suggests, especially as the market broadens to include younger consumers, that you address these concerns before you enter the market.