This report utilises Euromonitor International’s new Passport Innovation portal to explore new brand and sub-brand launches in global beauty and personal care. Three key innovation platforms are identified for global beauty and personal care in 2023/2024, with product examples from large global e-commerce retailers over the last 12 months.
This report comes in PPT.
There is an ongoing global movement to embrace natural hair textures, especially curly, coily or Afro-textured styles. The past few years have seen the debut of new brands exclusively for curly hair – a welcome shift, since many markets are still dominated by products that cater to straight hair. Curly hair-positioned products incorporate protective ingredients, such as lipids, shea butter, olive oil and sesame oil, that have been formulated specifically for curls, anti-frizz, and thermal-protecting benefits.
Skin care is projected to grow by 3.3% in constant terms globally in 2024 – up from 2.9% in 2023 – driven by launches of new products that are multifunctional and multi-benefit. Newer skin care launches will take a more proactive approach to skin concerns, such as anti-ageing claims. Acne treatments lag behind other skin care categories in product innovation, but opportunities exist, especially in adapting products to work with make-up more seamlessly, or launching new products in the form of patches, which have proven popular with Gen Z consumers, in particular.
As consumers become more aware of the advantages of using sun protection year-round, product variety in sun care continues to increase. Mineral-based sun protection products are becoming more popular, as are self-tanning products as an alternative to sun exposure. Premium sun care brands are emerging, while innovation in Asia Pacific brands is crossing over to other markets.
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