Market research company Diagonal Reports says the beauty market will rest on the three pillars of wellness, technological and cosmetic beauty for the future; the first two being new additions.
“Wellness has been competing for beauty spending for many years,” says Diagonal. “It was early 2000 when we first noted that salon professionals (in the US, Europe and China) were providing wellness or 'beauty from within' services. “
This has since seen beauty spas roll out innovative treatments based on reducing stress or increasing energy to deliver a younger looking skin.
The Ireland-based company says it has been documenting how changes in buyer behaviour created a sector worth billions, and has noted the growth of the wellness segment.
The other new pillar is beauty technology which is transforming the beauty culture as devices and tools are being used more in daily skin care routines because they deliver effective and efficient results.
New era
The growing popularity of this market has seen many of the industry’s biggest players get involved.
“The era of the superfacial has arrived. But as long ago as 2006, we identified that devices were being added to spa treatment protocols because of dissatisfaction with traditional products,” adds Diagonal.
“Demand for new solutions was so widespread that we called it the ‘Botox Effect’.”
This demand is driven by consumers wanting their products to deliver dramatic improvements to their skin condition and appearance.
“Wellness and technological beauty are already impacting on what many people want from their products, making even the most conservative of cosmetic beauty buyers more open than ever to new skin care technologies and formulations,” adds Diagonal.
“Our research shows that consumers in mature markets are adopting new products while their counterparts in developing markets are taking their own traditions with them.”