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. Â
Innova Market Insights data indicates a 27% growth in personal care launches with premium claims from July 2019 to June 2024. Twenty percent of these launches were in the Hair Care category, while there was a fast increase in premium Oral Care launches, with 69% growth in five years.
Innova Market Insights data indicates a +97% average annual growth of ethical packaging and environment claims in global cosmetic launches from July 2019 to June 2024. 60% of these launches were in Face/Body Cosmetics, with the fastest increase in Eye Cosmetics.
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.  Â
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. Â
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.
