The beauty industry is redefining its purpose beyond the physical skin deep cosmetics to display its soul. From one that no longer sets impossible standards, neglects diversity and sells ineffective products to an industry that is progressive, inclusive, de-stigmatizes taboos and accepting of every individual. With a soul, the beauty brand improves lives and creates profits at scale like no other and is already forecast to reach $863 billion by 2024.
FutureBrand recently released its Future of Beauty report as part of its ongoing FutureOf series. To understand the beauty industry from a brand perspective the team at Future Brand analyzed the 5 key trends, societal and beauty shifts shaping the industry and the consequence of these shifts. Beauty is a sector where consumer behavior and understanding has also evolved rapidly, the report captures the essence of this evolution for smart marketers and a new breed of beauty consumers – who are more knowledgeable and otherwise called the ‘skintellectuals’.
Here are the top 5 trends to look out for: Civic beauty- attracted to brands that play a more
Here are the top 5 trends to look out for:
Civic Beauty: Brands that play a more decisive role in society.
Optimized Individuality: Highly personalized products that enhance social and genetic identities.
Mood Beauty: Mood-focused products that align with natural human cycles and chronobiology.
Intuitive Beauty: Brands are making beauty more instinctive and seamless to simplify our busy, active lifestyles.
Medical Grade Beauty: A merger between health, medical solutions and biological discoveries.