The big picture in skincare
As the beauty and fragrance world adjust to the ‘new normal’, the skin care market has seen an accelerated rise in interest. Many consumers are spending more time at home and the focus on self- care has been magnified as an important priority. Even before the global pandemic we were seeing a rise in the skin care market as a ‘wellbeing’ sector and product development targeted a ‘whole’ body focus, as healthy skin became a key driver for all consumers. This article explores the latest trends and developments in the skincare market; which key new collections have been launched, the rise of celebrity skincare ranges, the focus on wellbeing, the buzzworthy new ingredients driving the market – from Retinol to Vitamin C, and also what we can expect to see coming next in this sector.
According to Euromonitor, in 2021, the global skin care market will be worth $162.6bn. The sector continues to dazzle as one of beauty’s world’s fastest growing categories, with 2020 confirming its place as the indisputable year of skincare, due to a renewed emphasis on wellness, self-care and the ‘dreaded lockdown skin’. As video calling became vital, ‘maskne’; skin breakouts caused by wearing masks became a problem and consumers had more time on their hands, without access to beauty salons, spas and treatments, skincare became a bigger focus.
THE SKINCARE MARKET REDEFINED
When talking about skincare these days it’s important to talk about the whole body and not just break it down into facial care and body care. The skin, as the largest organ of the body (with a total area of about 20 square feet) has the need of a skincare routine as much as the face does, and both heritage and discovery brands are developing this awareness. So, consumers are still reaching for creams, serums and oils for that coveted ‘glowing face’, but will also be investing in scrubs, butters, jell ...