Beauty Consumer Trend Predictions for 2024
In 2024, the beauty industry is embracing new trends to meet the changing needs and expectations of consumers. From consumers placing greater emphasis on product efficacy and ingredients to the rise of the de-influencers, the increase in multifunctional and wellness-focused products, the popularity of sustainable brands and refillable products, and the use of AI and AR technologies, we’ve taken an in-depth look at the top beauty consumer trends for 2024.
Product efficacy and ingredients will matter
Beauty trends for 2024 are shifting toward consumers prioritizing product efficacy and functionality. It’s about prioritizing product features over fancy packaging and marketing. Factors contributing to this trend include more informed and insightful consumers, health-conscious lifestyles, and technological advances that have made it relatively easy to extract natural ingredients. Consumers are expected to show greater trust when a product’s effectiveness is proven through research, clinical studies, and institutional accreditation, so brands that focus on quality and efficacy will stand out in the marketplace.
De-influencing and conscious consumption
In the face of rising prices due to inflation, consumers are looking for smarter ways to spend, a practice known as “value hacking”. They actively look for ways to reduce costs without sacrificing quality. For example, the “Deinfluence” phenomenon on social media is taking a critical standpoint at brand-sponsored paid content and shining a spotlight on creators who are honest and candid about the brands. These honest reviews and opinions make consumers more critical about brands and products that are overrated on social media.
Editor’s Note: de-influence phenomenon
It is where influential social media creators tell their followers what not to buy and which brands to avoid. They often provide realistic and poignant reviews or comment on products that don’t live up to their high price, essentially helping consumers critically evaluate their purchases. The main goal is to convince others to make conscious purchasing choices and limit over-consumption.
Multifunctional beauty products
Multifunctional beauty products are growing in popularity to simplify your beauty routine and make your life easier. These products are one-stop solutions that pack multiple features into one product, saving you time and effort. Multifunctional products, which combine different ingredients and functions, simplify beauty routines and are practical. Saving space in the bathroom, reducing packaging waste, and being economical are all contributing to the trend.
Self-care and wellness-focused beauty products
The post-pandemic focus on wellness and mental health has had a huge impact on the beauty industry. Consumers are now more consicous of the connection between beauty products and health, and cosmetics with ingredients that provide health benefits, such as rosemary, botanicals, antioxidants, vitamins, and SPF, are becoming more popular. In addition, the wellness-oriented beauty sector is seeing a trend toward adding an element of relaxation to the product. For example, brands incorporate a soothing aromatherapy element of essential oils into their products, allowing consumers to enjoy their beauty routine while soothing their daily stresses.
Sustainable brands and refillable products
As eco-friendly lifestyles become more commonplace, the demand for sustainable brands and refillable products in the beauty industry is on the rise. Consumers are looking beyond the functionality of a product and consider the impact on the environment, favoring sustainable and environmentally friendly products. These conscious consumer choices are driving many brands to be cruelty-free and sustainably produced using eco-friendly resources. This is an important turning point for brands, not only to improve their image, but also to meet consumer demand for environmental protection.
It’s noteworthy that refillable products are becoming more mainstream, reducing the volume of plastic materials. According to a 2023 consumer study by market research firm Global Data, about 67% of consumers consider refillable or reusable packaging to be an important factor in purhcase. This shows that more consumers are taking environmental responsibility seriously and making more conscious purchases.
Hyper-personalization with AI & AR
The use of technology in the beauty industry has increased significantly. Technologies such as 3D printing, artificial intelligence (AI), and augmented reality (AR) are improving the performance of beauty products and serving uniquepurposes to meet consumer preferences. AI and AR are enabling personalized beauty experiences, providing hair and skin analysis, personalized product recommendations, real-time health monitoring, and more. In the future, AI is expected to deliver highly personalized beauty experiences based on individual preferences, genetics, environment, and lifestyle.
The revival of the men’s beauty market
The men’s beauty product has seen a rise in demand due to changing social attitudes and men’s changing perceptions of grooming and self-care. They are paying greater attention to personal care and wellness, and brands are developing products that cater to the unique needs and interests of male consumers. Male consumers are becoming increasingly picky about the ingredients and formulations in their daily products, and the demand for natural and environmentally friendly products is on the rise. This trend will provide an opportunity for brands to offer environmentally friendly products and cater to the needs of male consumers.