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Top Beauty and Personal Care Trends for 2023

CEO Tinh Phung
The beauty and personal care industry has faced numerous challenges in 2022 due to the global pandemic and its aftermath. Despite these obstacles, there are five key trends that are shaping the industry and adding...

The beauty and personal care industry has faced numerous challenges in 2022 due to the global pandemic and its aftermath. Despite these obstacles, there are five key trends that are shaping the industry and adding value for consumers. Let's take a closer look at these trends and how they are impacting beauty consumption.

Premiumisation and Affordability in Beauty: Catering to Price-Sensitive Consumers

Inflation has had a significant impact on beauty and personal care products, leading to changes in consumer behavior. As prices rise, consumers are becoming more selective in their purchasing decisions. According to a survey conducted by Euromonitor International, more consumers in 2022 sought out price-sensitive attributes when shopping for skincare compared to the previous year. This trend indicates that consumers are looking for value for money and multi-functional benefits. As the concept of "value" evolves, brands will need to adapt to meet the changing needs of their customers.

Ingredient-Led Beauty: Embracing Green Chemistry and Sustainability

Consumers are becoming increasingly conscious of the ingredients used in beauty products. The pandemic has heightened awareness of surfaces and led to a greater interest in single-ingredient brands. Even in unregulated markets, stricter rules and regulations are being considered. "Green chemistry," which focuses on eliminating hazardous substances and using biobased ingredients, has emerged as a major focus area in the beauty and personal care industry. In 2023, we can expect to see an acceleration in the innovation of green chemistry, including the use of upcycled ingredients.

Blurring Wellness Spaces: Integrating Beauty and Health

The COVID-19 pandemic has driven consumer demand for holistic health and prevention. As a result, industries across the consumer goods sector are merging traditional portfolios with emerging health needs. This two-way expansion is blurring the lines between categories and creating hybrid offerings. In the beauty industry, the overlap with consumer health is expected to strengthen. Beauty is not just about looking good; it is also about feeling healthy. Brands will need to gain consumers' trust as holistic health enhancers to stay relevant in the coming years.

Supporting Women's Health and Wellness: Addressing Specific Needs

As the conversation around female empowerment and gender inclusivity evolves, there is a greater awareness of women's health across all stages of life. This presents an opportunity for beauty brands to think beyond conventional innovation spaces. By understanding the correlation between hormonal imbalances and changing skin and hair needs, brands can develop tailored solutions for cycle care, menopausal health, and maternal health. There is also potential for convergence in spaces such as intimate care and sexual wellness, as brands adopt a more holistic approach to wellness.

From Function to Emotion: The Role of Neuroscience in Beauty

Beauty consumers are increasingly seeking newness and innovation. Emotional values, such as internal health benefits and social value identities, have become essential factors in purchasing decisions. Neuroscience is starting to be used as a biometric signal to evaluate emotional functionality. This opens up new opportunities for fragrance and ingredient players to create products that elicit emotional responses. "Neuroscents," which leverage neuroscience to create fragrances, are gaining popularity. Brands can educate consumers about this emerging segment and provide products that not only perform but also evoke positive emotions.

In conclusion, while the beauty and personal care industry faces challenges in 2023, there are also opportunities for brands to position themselves as experts and trusted guides. By understanding and embracing these five key trends, beauty players can navigate the changing landscape and meet the evolving needs of consumers.

Top 5 Trends for BPC Nette.jpg US-based candle brand Nette leverages neuroscents to create candles and fragrances, based on analysis from IFF’s Science of Wellness that blends artificial intelligence with neuroscience.