Trends in the high-end beauty market in the next decade

Recently, the US market research agency NPD released a trend report on the high-end beauty market in the next decade. The report author, NPD vice president, beauty industry consultant and Larissa Jensen talked about her views on makeup, natural products and sustainable development in the next ten years.

Make-up "return"

Larissa Jensen believes that, according to historical law, every 4 to 5 years, high-end makeup and high-end skin care products will have a "reincarnation." In 2017, the (American market) makeup started to get cold, so from a historical point of view, by 2021, makeup can turn over again.

However, Jensen also said that the premise of this prediction is the healthy development of the entire beauty market. "If the beauty industry declines, it will affect more than makeup."

Jensen believes that the focus of future cosmetics will no longer be the exaggerated "colors" of the past decade, but to help consumers look and look more "natural". At the same time, social media, which has played a huge role in promoting the past ten years, is constantly changing, and as consumers attach importance to "realism", companies and brands need to have a deep understanding of how these changes will affect products in the future.

The growth of natural skin care products slows down, and the potential for natural make-up and perfumes is still great.

Natural skin care products will continue to grow. In fact, after years of development, this field has become one of the largest product types in today's high-end skin care market. However, the growth rate of natural skin care products will no longer develop as fast as in the past decade.

Jensen said, "In fact, if we look back over the past three years, we will find that the growth of natural skin care products in 2019 has slowed down compared with 2018."

Jensen believes that natural cosmetics and natural perfume products will have more growth opportunities in the future, and there are currently not many natural brands in these two categories.

Environmental protection and sustainability will gain more attention

In the next ten years, consumers will pay more attention to environmental protection and sustainability issues, such as ocean issues, the global environment and even humanity itself. Therefore, consumer demand for clean and environmentally friendly products will continue to increase, and beauty companies and brands will also produce more beauty products that are "environmentally friendly" for human skin and the natural environment.

Jensen said, “Despite the practice of sustainable development, the cost of developing sustainable products is very high, but in the long run, the cost of giving up developing sustainable products will be higher.”

Consumers want beauty companies and brands to fulfill their environmental and social responsibilities. Therefore, although sustainable development is not easy, in the next ten years, "sustainability" will become a major focus of the beauty industry.

The beauty market will "iterate" many times in the next ten years

The beauty market will experience many unprecedented "iterations" in the next decade. Jensen said, "If we look back ten years ago, Instagram was just starting in 2010, and Apple just released the iPhone4, so anything could happen in the future. The past decade was a decade of technology and social media. The future belongs to What is hard to predict. "

Jensen believes that people will pay more attention to reality in 2020, and some people begin to embrace "JOMO" (joy of missing out), that is, to enjoy being alone and to quit socializing. People need to pay more attention to themselves and reflect on themselves. The focus on self will undoubtedly be more conducive to the development of the beauty industry, new products will appear and bring unprecedented changes.

Jensen said, "I have been in the beauty industry for more than 20 years and have witnessed a complete change in the marketing and sales of the beauty industry. However, consumers' enthusiasm for beauty has not diminished. Therefore, no matter how the beauty industry develops, how consumers can promote industry reform Emotion is always at the core of the beauty industry. "