Beauty and the Skincare Industry
Spring 2023 Emerging Product
The pursuit of beauty and attractiveness has been around since time immemorial. Throughout our history, we can document societal perceptions and interest in the physical manifestation of beauty for both men and women. While these ideals of attractiveness have changed over time, individuals desire to accentuate their appeal and achieve our current view of attractiveness has increased.
Today’s we can’t overestimate how social media, mass media, popular trends, advertisements, celebrity influencers, and others are shaping our views and perceptions of beauty. While some of these beauty ideals are often unobtainable, the quest by all genders to achieve these ideals fuels a worldwide multi-billion-dollar beauty and cosmetic enhancement industry.
The worldwide skincare industry is a multibillion-dollar industry that is constantly evolving as more and more products and services are being introduced to an ever increasing market. One of the fastest growing market is the mature market. The skincare industry is responding to demands to reduce the visible signs of aging, including wrinkles, lines, age spots or hyperpigmentation, skin laxity, sun damage and a variety of other concerns.
The other demand that fuels the skincare industry is age. You may think that the demand for cosmetic is fueled by Gen Z, 18 to 24 years1. You would be incorrect! “According to a report by the NPD Group, women aged 55 and over are the biggest spenders on cosmetics, shelling out an average of $138 per year. This age group is also the fastest-growing demographic of cosmetic users!
Try as you might to resist the hype of the myriad of products and stick to your regular skincare regiment and products, many of us succumb and search for and purchase the latest “miracle” skincare products2. To assist you in your research, Beautify.com team of skincare specialists and cosmetic beautifiers pulled together our list of “Emerging Products.”
1The Skincare Industry Is Greatly Affected By Demographics, Mehak Sagar | Dec 5, 2022 | Skincare
2Experts Agree, These Skincare Trends will be Huge in 2023, WhoWhatWear.CO .UK, January 15, 2023
9 Makeup Trends for the Spring, Reece Andavolgy, February 2023, Loreal Paris