How Beauty Will Grow in 2017 and Bey

Sentiment on the beauty and personal care industry’s performance in 2016 points to a vibrant color cosmetics category, delivering healthy growth for key brands owned by major players, including Estée Lauder and L’Oréal, as well as niche brands and relatively new entrants, such as Kiko Milano and Charlotte Tilbury. Skin care is anticipated to show a slowdown, albeit with pockets of strength in segments such as naturals and dermocosmetics that continue to witness a more robust performance, highly indicative of prevailing trends.

Wellness Cuts through the Clutter

Evolving consumer patterns across multiple industries are opening new avenues to beauty players. A holistic approach to a healthier lifestyle is being manifested in consumers’ choice of food, levels of alcohol consumption, sports and exercise, and, more relevant to the beauty industry, greater care to personal hygiene and appearance through the use of preventative beauty products. More consumers are basing purchasing decisions on their wellness priorities, formulations and standout products in an otherwise cluttered marketplace.

New market entrants are exploiting this scenario with niche offerings, at times bold, and with development of cross-category and inter-industry product innovations. This evolution pretty much sums up why niche labels, dermocos­metics and “clean label” products are challenging legacy power brands, as consumers, in particular those in saturated Western markets, seek authentic options.

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