As people worldwide prioritize self-care and wellness, skin care has become more of a need than a luxury. In fact, in 2023, the skin care industry is expected to generate US$155.70 billion in revenue, and Statista predicts it to expand by 3.64% each year (CAGR 2023-2028).
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As people worldwide prioritize self-care and wellness, skin care has become more of a need than a luxury. In fact, in 2023, the skin care industry is expected to generate US$155.70 billion in revenue, and Statista predicts it to expand by 3.64% each year (CAGR 2023-2028).
Moreover, with the huge variety of products available on the market, consumers are presented with infinite choices. But none of this would be possible without the growing popularity in recent years. With technology playing a critical role in driving innovation, it has transformed the landscape of the traditional beauty market. This helped produce game-changing products, services, and experiences, revolutionizing the beauty sector.
The Landscape of The Current Skin Care Market
With 42% of the market, skin care is the most dominating segment of the beauty industry. New skin care products, ranging from organic anti-aging serums to gender-neutral cosmetics and concealers, hit the market daily. The substances used in skin care products are a subject of growing consumer concern. In addition, as natural and chemical-free products gain more popularity among consumers, health and wellness trends are significantly impacting the skin care industry.
The most important characteristics of clean beauty products are anticipated to be claims like "organic," "cruelty-free," and "natural." Consumers worldwide are also looking for goods that clarify product labeling. A few more skin care trends can influence your skin care routine, from various technologies to science-backed formulae and revolutionary ingredients.
The Future of Skin Care: What Trends Are on The Rise?
Skin care used to be a trend unto itself. Still, recently, it has emerged as the beauty category with the fastest growth rate, giving rise to micro-trends and innovations that straddle the divide between skin care and wellness, makeup and technology. Our skin care routine is no longer just a daily requirement; it's a chance to engage in self-care, learn and discover innovation.
- Ayurvedic Skin care and Natural Ingredients: Ancient wisdom meets modern skin care as Ayurvedic practices take center stage. This holistic approach to skin care emphasizes the importance of balance and natural ingredients. Ayurvedic skin care harnesses the power of herbs and plant-based elements, offering solutions for various skin concerns. By embracing Ayurvedic principles, individuals find harmony in their skin and overall well-being.
- Rise in Body Care: Our skin is the greatest organ in our bodies, but skin care has nearly always been centered on the face. However, there has been a huge increase in attention to body care recently. It is moving beyond a "skin care-as-self-care" mentality toward something more specialized and functional. According to Mintel's market research, 33% of American adults use body and hand care products more often than a year ago. Body serums and other treatments that address body skin issues are becoming more popular by containing active ingredients such as AHAs, retinol, collagen and peptides. For body acne, there are salicylic acid sprays, creams and body washes. Similarly, lotions containing retinol are available to lessen the appearance of stretch marks, products with lactic acid can lessen the look of strawberry legs, and glycolic acid treatments are accessible for body pigmentation.
- CBD's Influence on Skin Health: CBD, short for cannabidiol, is making waves in skin care. Derived from the cannabis plant, CBD is non-psychoactive and offers many benefits for skin health. CBD-infused skin care products are known for their anti-inflammatory and antioxidant properties. They can help soothe irritated skin, reduce redness, and promote a healthy complexion. With CBD skin care, individuals experience this natural compound's soothing and rejuvenating effects.
Related: The Healthy Aging Movement and What It Means for the Beauty Industry
Integrating Tech into Skin Care
Modern technology is being used by skin care businesses to create cutting-edge products that are supported by science. High-tech skin care products are altering how we take care of our skin, from sophisticated delivery systems to cutting-edge components for skin care. Nanotechnology, microencapsulation, and bioengineering are among the technologies that beauty companies incorporate to produce skin care products with increased efficacy and performance.
- Targeted Skin Solutions with LED Light Therapy Masks: Imagine a skin care solution that harnesses the power of light to address specific skin concerns. LED light therapy masks do just that. By utilizing different wavelengths of light, these masks penetrate the skin at varying levels, targeting issues like acne, inflammation and signs of aging. The result? A rejuvenated complexion and a more confident you, all thanks to the precision of light therapy.
- Boosting Collagen Production and Improving Texture with Microneedling Devices: The quest for youthful and vibrant skin has led to the rise of microneedling devices. These innovative tools create tiny, controlled punctures in the skin, stimulating collagen production and improving overall texture. Microneedling offers a non-invasive solution for minimizing fine lines, scars and uneven skin tone. As collagen production increases, individuals experience smoother and firmer skin, a testament to the power of technological advancements in skin care.
Investing in Makeup and Skin Care Hybrids
Skin care and cosmetics hybrids aren't technically new, but are better than ever. We're taking extra precautions to preserve our skin, from SPF-infused skin tints to makeup tailored to be worn while sleeping.
Makeup-infused skin care first appeared in 2022, but it's expected to take off this year. Primers that prep and hydrate concealers and foundations that treat the skin while also evening out skin tone — such hybrid products are a terrific way to pamper the skin while wearing makeup.
As the line between skin care and makeup becomes increasingly blurred, this is undoubtedly the natural next step for the business. The emphasis is also shifting to skin care steps before makeup application, using fewer makeup products with lighter coverage and celebrating a healthy complexion. It's also a move that allows people to have a more efficient and minimal routine.
The competition between brands is escalating as the global beauty and cosmetics sector expands at an increasing rate. Many firms are utilizing the most recent advancements in beauty technology, which are drastically changing the sector, to stay competitive. So, look into what trends can revolutionize your skin care business.
Mike Szczesny is the owner and vice president of EDCO Awards & Specialties, a dedicated supplier of employee recognition products, anniversary awards and trophies, branded merchandise, and athletic awards. Szczesny takes pride in EDCO's ability to help companies go the extra mile in expressing gratitude and appreciation to their employees. He resides in Fort Lauderdale, Florida.
