5 Beauty & Personal Care Trends to Watch in 2024
In the dynamic landscape of beauty and personal care, it’s important for manufacturers to stay on top of the latest innovative ingredients and cutting-edge technologies, to create new products that stand out on the crowded retail shelves. Despite uncertain economic times, consumers are not prepared to sacrifice their favorite products, but are still keen to explore the best the industry has to offer. Powered by IFF's proprietary trend intelligence tool – Panoptic – here are the top five trends predicted to shape the year ahead and spark your next cutting-edge formulation.
1. Holistic wellbeing
One in two consumers are adopting a more proactive mindset towards health and embracing a broader, holistic approach to managing and supporting their wellbeing. [1] In light of this, the lines between beauty and self-care are beginning to blur with consumers increasingly viewing their bodies as interconnected ecosystems and investing time in researching personal care ingredients and their effects. This increased awareness will drive the demand for products beyond facial skin care that incorporate buzz-worthy and efficient ingredients, a concept also known as skinification. Skinification refers to the incorporation of active ingredients, routines or benefits originating from facial skin care, into wider beauty and personal care applications. In hair care, for example, the popularity of skinification stems from the belief that commonly found skincare actives can provide similar benefits to the hair and scalp as they do to the skin e.g. hydration, nourishment, or protection.
2. Sensorial experiences
Consumers are prioritizing the doing rather than the having to break away from the monotony of daily life. This is driving a transformative shift in consumers’ spending habits toward experience-driven purchases over material goods. In a study, as much as 76% of consumers globally are making experience-driven purchases over material items. [2] In beauty and personal care, brands can support this with innovative product offerings for routines perceived as mundane but obligatory. This can include introducing a reinvented routine or indulging in innovative textures that can evoke different sensations during application to satisfy the growing hunger for a unique multi-sensory experience.
3. Budget conscious
In 2024, the economic landscape will significantly shape consumer behavior. Most individuals will be keeping to a tight budget, making cost-efficacy a significant priority when buying beauty and personal care products. Despite financial restraints though, many are unwilling to compromise on the comprehensiveness of their beauty and personal care routines and are not ready to scale this back to basics. Instead, they seek efficacious active ingredients on labels andat an attractive price point. This cost-conscious demographic wants it all, challenging brands to strike a delicate balance, to not only offer affordable solutions but alsodeliver on values like performance and sustainability.
4. Sustainable choices
It’s no surprise that sustainability plays an important role in consumers’ purchasing decisions – and this looks set to continue in 2024 and beyond in the beauty and personal care space. In France, for example, three out of four consumers say that they are changing their daily practices to reduce the impact of their consumption. [3] Key aspects of sustainability in this industry include adopting practices that minimize environmental impact, promoting social responsibility and considering the entire life cycle of products, from raw material sourcing to disposal. Upcycled ingredients are an especially powerful tool for brands to leverage here. This refers to materials that are repurposed or salvaged from by-products, waste or excess materials generated during other processes. It offers a way to use resources more efficiently, minimize the environmental impact of product manufacturing and contributes to a brand’s sustainability credentials.
5. New trust equation
In the wake of the pandemic, consumer behavior underwent a significant shift, amplifying trust and confidence in science-backed products. This newfound appreciation for the clinical means that consumers will demand their beauty and personal care products to be backed by robust science for proven efficacy and safe use. The surge in popularity of science-driven solutions has highlighted a preference for ingredients with a low environmental impact, emphasizing the importance of blending innovation with sustainability. Looking ahead, it is evident that advancements in science and technology will play a pivotal role in shaping the future of beauty and personal care products, underscoring the value of a science-led narrative in telling the brand story.
Taking beauty and personal care further
The beauty and personal care landscape is continually evolving but by prioritizing consumers’ growing preferences – and non-negotiables – brands can thrive.
Interested in hearing how these trends can be translated into your new product pipeline? Contact us today or subscribe to our newsletter and stay tuned for upcoming insights.
[1] Nielsen IQ, 2022.
[2] Momentum Worldwide. 76% of Consumers Prefer to Spend on Experiences than on Material Items, New Study Finds. 2019.
[3] GreenFlex/ADEME, Baromètre de la consommation responsable, October 2022.
