Brands are developing multifunctional cosmetic products to align with minimalist routines. According to Innova Market Insights, 20% of consumers globally say multifunctional products appeal to them. Since the post-pandemic grind and driven by fast-paced lifestyles, consumers are now looking for 2-in-1 and multifunctional makeup products with higher degrees of usage convenience to minimize the time of their daily makeup routines.
Innova Market Insights data indicates that multifunctional makeup launches have surged by 34% between April 2022 and March 2024, reflecting a growing demand for these products. Brands are increasingly incorporating skin-nourishing ingredients, long-lasting formulas and multi-use benefits to cater to consumers’ fast-paced lifestyles. Notably, the top positionings of these launches include Ethical – Animal/Fish/Birds, No Animal Ingredients and Vegan, signaling a conscious shift toward more responsible beauty choices.
According to Innova Market Insights, 63% of consumers globally believe natural ingredients are better for their skin than synthetic ones. Many are choosing anti-aging and nurturing ingredients, with natural retinol alternatives like bakuchiol gaining popularity. Additionally, consumers worldwide are embracing their cultural heritage by reintroducing traditional, time-tested ingredients.
Innova Market Insights data indicates an 11% compound annual growth rate in beauty product launches with skin health claims between April 2019 and March 2024. Face Foundations/Illuminators were the top sub-categories of these launches from April 2023 and March 2024, accounting for 61%. Over half of the launches included a non-comedogenic claim, which also emerged as the fastest-growing health positioning among products with health claims.
Innova Market Insights data indicates an 11% compound annual growth rate in beauty product launches with skin health claims between April 2019 and March 2024. Face Foundations/Illuminators were the top sub-categories of these launches from April 2023 and March 2024, accounting for 61%. Over half of the launches included a non-comedogenic claim, which also emerged as the fastest-growing health positioning among products with health claims.
Innova Market Insights data indicates from April 2023 to March 2024, 30% of Personal Care product launches featuring an autumn-related claim were in the Hand, Bath & Shower category, particularly in Body Lotions, Moisturizers and Oils. Additionally, there has been a 44% increase in Skin Care launches with autumn claims from April 2019 to March 2024, with facial treatments showing rapid growth.
Innova Market Insights data indicates that personal care launches with anti-aging claims experienced a 2% average annual growth rate between April 2019 and March 2024. Facial/Neck Moisturizers accounted for 43% of these launches. The top positionings of anti-aging Personal Care launches were Moisturizing & Hydrating, Reduces Fine Lines/Wrinkles and Brightening/Illuminating.
