Thereâ€™s never been a better time for beauty. Buoyed by the sheer number of millennial consumers, with their desire to be Instagram-worthy and their constant craving for the new, the beauty industry is thriving. Revenues for the U.S. beauty industry alone top $56+ billion annually. Globally, the beauty and personal care industry is expected to surpass $750 billion by 2024, up from $432.7 billion in 2016. And itâ€™s not all about women anymore. Here are a top 10:
Custom combinations: Personalization is the biggest overarching trend in the industry for 2018. Whether itâ€™s the shade of their foundation (witness the immediate success of Rihannaâ€™s Fenty Beauty line) or the â€œslipâ€ of their moisturizer, consumers expect to mix and match different products/brands to get exactly what they want.
Striking oil: Oils continue to be a huge skin care trend in 2018. According to Pinterest, which recently released its top 100 trend predictions for 2018, repins of â€œcleansing oilâ€ are up 555%. Watch for oils that protect and moisturize face, lips and body to continue to take off.
Beauty gadgets: Derma rollers/facial rollers designed to help make skin care more effective will benefit from consumersâ€™ desire to get the most from their products. Ranging from ice or needle rollers to jade and quartz, these tools also help consumers recreate the spa experience at home.
Hurry up: At the other extreme from the time-consuming K-beauty rituals that captured consumersâ€™ attention in 2017, convenience is hot for 2018. Miniature or travel-sized products will be popular, along with â€œjust-add-waterâ€ options such as skin care in powder or film form.
Mask madness: The mask craze is far from over. Charcoal masks and unique clays are popular. Masks with silt from remote lakes and volcanic ash, and â€œdry masksâ€ are trickling down to the mass market, according to Cosmetics Designâ€™s 2018 forecast.
Shelter from the sun: Skin protection is a growing concern worldwide with special attention to products that promise to shield consumers from sun and pollution. UV-filtering antioxidant products are popular as the ozone shrinks and more people congregate in urban centers.
Lashing out: Now that consumers have done everything possible to their brows, 2018 features a renewed focus on eyes. Pinterest says searches for â€œlashesâ€ are up 152% and with new mascaras launching seemingly every day, thereâ€™s no shortage of product to fulfill customersâ€™ needs. Bright eyeliner and eye shadow are popular as well; Pinterest searches for â€œbright eye shadowâ€ have increased by 63%.
Shine on: Speaking of eye-catching looks, glitter is also prominent this year. Whether itâ€™s crystals, jewels or actual glitter on the eyelids, golden highlighter or glimmery lip glosses, consumers want stuff that sparkles.
Nailed it: â€˜Nail artâ€™ shows no signs of fading (although nail art designs are becoming more minimalist). Mintel Market Research says the nail treatment category is especially hot, as consumers seek to care for their nail health the same way they care for their skin.
Cleaning up: Last but far from least, natural cosmetics and skin care continue their climb. The latest trend, according to Future Marketing Insights, is â€œclean color cosmetics.â€ Offering natural formulations without the â€œnatural look,â€ these products offer full coverage, serious pigmentation and plenty of staying power.
Michele McDonough is a strategic consultant and executive recruiter in the field of health and beauty. She is also co-founder of Womenâ€™s Power Circle and can be reached at [email protected]
Source: 1) Global Biz Circle