Mintel executive shares the beauty and personal care trends to watch for 2024

KinShen Chan: ”One challenge for brands could also be about exploring how to make legacy ingredients like niacinamide new again as a new form of communication.”
November 21, 2023

Since 2009, the leading market intelligence agency has presented the annual Beauty and Personal Care trends, sharing a forward-looking perspective into the upcoming shifts and trends impacting the beauty category. The 2024 report, released just the other week, has identified three key trends.

— The first one, Sophisticated Simplicity, zooms in on the emerging trend of ’quiet beauty’, says KinShen Chan, Senior Beauty and Personal Care Analyst. It’s about how it places emphasis on the quality of ingredients, the proven efficacy of products, and the reassurance of simplicity. Number two, NeuroGlow, explores how consumers prioritise wellness, accelerate the power of the mind-body connection, and help them discover the transformative potential of psychodermatology and neurocosmetics. Lastly, Beaut-AI taps into how AI will revolutionise the beauty industry, assisting efficiency, accelerating product development, and promoting inclusivity. Personalised solutions and engagement will evolve.

KinShen Chan.

What are the takeaways here?

— Given consumers’ focus on ingredients and wellness, product development in these areas will be exciting in the next few years. The trend Sophisticated Simplicity discusses how consumers are increasingly seeking products that prioritise efficacy and functionality without frills. Furthermore, the other trend NeuroGlow talks about the power of the mind-body connection, in which beauty and mental wellbeing intertwine, enhancing the wellness journey and pushing the beauty industry towards neurocosmetics. Take for example Shiseido, which recently announced the partnership with Tsumura, a local company focusing on kampo medicine products. Kagome, a local manufacturer of fruit juices launching its inner beauty business in 2024, is perhaps an exciting indication of the possible ideations of beauty products targeting inner wellness. 

And if you were to pick one thing from these findings to remember, what would that be?

— The push for efficacy and value will always be important to consumers, as mentioned in Sophisticated Simplicity. Ingredients will always be an evergreen consumer need from a beauty perspective.

— One challenge for brands could also be about exploring how to make legacy ingredients like niacinamide new again as a new form of communication. One such good example is Olay, which recently launched Super Serum, comprising a new formulation of low-pH activated niacinamide. The idea behind this technology is to minimise the claimed irregularities of the skin — ’skin chaosity’ — and reduce micro-inflammation through a low-pH buffer system, Chan concludes.

The full report is available here.