No other beauty category excites beauty consumers as much as skincare. Whether it's the discovery of a hot challenge brand or the much-anticipated breakthrough of a long-established industry leader, consumer appetite for ** care is growing from the youngest generation to the older generations. The proof is in the data, the global market will be worth $160 billion in 2023, and skincare sales are booming. According to Circana, sales across Europe grew by 10% by value and 9% by unit last year, with toners and purifiers, lip care, serums and body care products indices above the category average.
In the UK in particular, the value of high-end skincare increased by 16% and the number of units increased by 22%, while in the US, high-end skincare and mass skincare grew by 16% and 11%, respectively. While inflation has affected consumer spending power in some regions, it's clear that the average consumer is willing to spend on skincare products at most price points, "as long as the efficacy and proven results are reasonable and effective," said Euromonitor International's senior research analyst.
This is a factor that has shown a change in the landscape of care. "Established brands that have failed to respond to changing UK consumer needs continue to suffer market share, while brands such as Cer**E resonate strongly with consumers looking for effectiveness and efficacy amid high inflation," Spicer said. "Mid-range brands such as The Ordinary and The Inkey List are also driving growth in the premium segment, offering sought-after products at much lower rates. Circana notes that The Ordinary is currently the number one selling brand in Europe. But in the face of increasing competition from new players, some established mid-range brands, such as NO7, have also become more innovative and focused on ingredient-led product launches. TikTok's viral spread also continues to affect the skincare assortment of brick-and-mortar retailers. Popular US skincare brand Bubble garnered 49 million BubbleSkincare views on TikTok in 2023 and launched in December at the new Battersea Power Station store and Boots in the UKcom, with one product sold every minute for the first month. Brand growth in the skincare sector is also achieved through strategies such as brand repositioning and improving accessibility: for example, according to Kantar, Elemis saw a 19% increase in the UK in 2023. But skincare is a jar full of trends, and Cosmetic Business is here to lift the veil on the five factors that will shape the category in 2024. "Peptides are the buzzword of the year," Dr. Lindsay Zubritsky, a board-certified physician, said at Clinique's latest launch event. Judging by the level of innovation that focuses on its wide range of benefits, it seems that the entire skincare industry would agree. While peptides are taking skincare by storm, this isn't the first time.
In the early 2000s, peptides exploded in the skincare sector with the introduction of Matrixyl 3000 and Argireline, and these actives were widely used by major brands such as Olay and Chanel. This trend is why these restorative ingredients are back in the spotlight. Gen Z may still dominate the beauty mainstay, but it's Gen Alpha who has stolen the show in recent months. From reports of 10-year-olds doing multi-step drunken routines, to the "Sephora Kids" trend, and concerns about the anti-aging craze in this youngest group, Gen Alpha's debut in the beauty industry hasn't been anything positive. While it's surprising to see their extreme passion for skincare and millennial luxury brands, Gen A's high level of engagement in the category isn't actually that surprising. The oldest of this generation is now 14 years old, and this generation is able to constantly gain information and influence. But when talking to younger consumers, there is an urgent need for education about health, as well as addressing the broader anti-aging topic in the beauty sector. Will the brand be able to stand firm? They're non-invasive, reusable, and capable of smoothing and moisturizing: it's no wonder silicone patches are so popular. Silicone patches and masks are made of medical-grade silicone and are worn for a certain amount of time or overnight to lock in moisture and keep the ** taut under the mask**, which is not a new invention, but they have benefited from the recent surge in social attention as an alternative to Botox on social **. On TikTok siliconepatches the number of views reached 141.8 billion times, while silicone patch brands including Sio Beauty and Wrinkles Schminkles have gone viral on social**. This trend explores the potential of silicone patches in the broader field of care. Maintaining a healthy **barrier remains one of the biggest trends in 2024**care, with brands working on new innovations to repair and restore damaged**. Therefore, it is not surprising that seaweed is gaining traction as a popular ingredient due to its myriad ** and anti-inflammatory benefits. A case in point is the Seaweed Mineral Scrub Body Soap from Italy SV1945, which contains natural silica peeling particles and nutritious kelp algae to leave the skin soft and silky. Its seaweed ingredient has two benefits, namely purification and conditioning, as well as its anti-cellulite and cellulite effects.
Due to its properties, finger kelp is a valuable brown algae found in the cold waters and the North Sea. They stand out among marine algae with the highest concentration of organic, easily absorbed iodine.
As research further reveals the secrets of seaweed repair and protection** barriers, seaweed will usher in a new round of development. Apply sunscreen every day, including in winter, even indoors. Doctors, aesthetic clinicians, brands and journalists consider this to be the most important care step, and the message about using sunscreen year-round is only going to get louder in 2024.
However, in most cases, it is difficult for brands and doctors to convince people, especially in the UK, that they need to use sunscreen during the winter months, which many believe is unnecessary. In fact, the current recommendations of the World Health Organization and a number of other leading health institutions and experts are in line with their views.