In the face of fast-paced cultural change and technological innovation, brands must constantly innovate to stay abreast of competition, and the beauty industry is no different. In order to meet the needs of consumers in the post-pandemic world, brands must embrace changing consumer habits influenced by the latest social media trends and technology as well as increasing concerns for the environment.
With that said, here are our top predictions for skincare products and market trends that are going to be popular in 2023.
Organic Skincare Products
The global organic skincare market is now valued at almost 7 billion USD, and is expected to grow by another 9-10% in 2023. More organic skincare brands are going mainstream, and consumers will be following suit. The demand for organic and natural skincare products will be a significant driver impacting how all major skincare brands are going to formulate and market their products.
Eco-Friendly Packaging
More and more skincare brands are mindful about how their products impact the environment. This involves incorporating packaging materials that are earth-friendly and don’t harm the planet. Expect to see more eco-friendly packaging including metal, glass, bamboo and paper. We will also start to see more containers made from biodegradable plastics.
Sustainable Skincare
Sustainable skincare products are those that have been created with the environment in mind. This usually means using natural ingredients from sustainable sources as well as avoiding chemicals that are known to be harmful for people as well as the environment. In addition, the products may be labelled vegan, cruelty-free, refillable and organic, with biodegradable packaging.
Augmented Reality (AR)
Artificial intelligence (AI) and augmented reality (AR) will play an even bigger part in the beauty industry. These technologies have made it possible for customers to try how a product looks and feels on their skin without even having to leave home. Next year, we expect to see more AR and VR based skincare experiences, such as “magic mirrors” as well as virtual make-up apps for smart phones and tablets.
