Future of Skincare (2023)
Meiyume’s Spotlight Trend Report
Meiyume’s Skincare Expert Comments
July 2023 –
“Despite economic uncertainty, spending on skincare essentials remains important to consumers. Ritualistic routines will prevail, while a stronger focus on skin health will see barrier protection and wellbeing high on the agenda for 2023, as consumers take a 360-degree approach to skincare and health.
Science-backed solutions will reign and biotech-ingredients are set to challenge definitions of ‘natural’ and ‘clean’, and question what sustainability means.“
“The skin is our largest sensorial organ, it communicates and reflects our wellbeing and it is deeply interconnected with the neurological system. In the US 70% of women experienced worse skin conditions whilst feeling burnt out in 2022. This can be attributed to increased levels of cortisol, a culprit of stressed skin such as inflammation, acne and eczema.
3 key ingredients to explore and support in combatting these skin concerns: Algaktiv Zen, Turmeria Zen PRCF and Neurophroline™. Brands have the opportunity to address stress related skin issues, sleep and wellbeing within products.“
The Skincare Market, at a Glance
- Despite being the beauty sector’s powerhouse, with the skincare category accounting for 34% of the global market by the end of 2024, the global skincare value presents a $5bn(USD) decline in 2022 vs 2021.
- However, the skincare category is set to make a comeback in 2023 with global forecast expected to reach $160bn(USD).
3 Key Micro Trends to Watch
- Skin rewilding – skincare will be taken back to its microbial roots, with seed and feed products that repair, strengthen, and protect the skin’s natural flora.
- AI – rapid developments in AI will see improved analysis tools and targeted formulation development, meeting consumer demand for personalisation and performance-driven skincare.
- Pro-Biotechnology – buoyed by a post-pandemic wave of ‘science pride’, definitions of natural will expand and biotech will enhance product efficacy, potency and purity.
Click the link below to read the full trend report.
Source: Euromonitor, Mintel, WGSN
Meiyume
With full turnkey expertise at our Trowbridge, UK, manufacturing facility, we have an innovation pipeline of formulations including skincare, SPF, hair, fragrance and colour cosmetics, paired with sustainable packaging solutions – ready to help inspire your next beauty project, wherever you are.
At Meiyume, innovation and sustainability are at the core of our global business operations – empowering beauty brands with a world of sustainable solutions. Contact us at marketing@mym-internal-test.inqaprojects.com for more information on our end-to-end global product solutions and retail solutions.