Driven by sustainability and new consumer habits, multifunctional products are dominating the global beauty market
The ‘skin minimalism’ concept is not new, but simplified and sustainable beauty routines are the key drivers behind the hybridization trend dominating make-up launches in 2021. After a difficult year, brands are embracing color products with complementary skincare benefits, inaugurating a new era for foundation serums, lip gloss treatment and glowing face oils.
“It’s a natural evolution of a process that started many years ago with BB and CC creams,” says Marcia Bardauil, Quadpack’s Market Insights Lead. The prominence of ‘clean beauty’ brought new elements to the table, shifting the focus towards efficient and sustainable formulas. By offering multiple benefits, hybrid products drive reduced beauty routines, allowing consumers to purchase fewer products and have minimized environmental impact.
According to Margaux Caron, Mintel’s¹ Global Beauty Analyst for Colour Cosmetics, consumers’ shrinking budgets, a focus on ‘clean’ formulations and growing eco-consciousness foster a minimal approach to beauty, as they seek out brands that offer transparency, value for money and green claims. “Hybrid products are tapping into this attitude, with short, readable ingredient lists, and multifunctional value,” she says.
Driven by increasing health and wellness concerns accelerated during the pandemic, consumers want products that will not only have an instant cosmetic effect but also improve their skin’s appearance in the long term. “They are more demanding and want to see value in every purchase. New social habits created by the pandemic also made them more cost-conscious, so if they have to choose between two products, they’ll opt for the one that offers more benefits to the skin” explains Bardauil.
New regulations and policies, such as the European Green Deal, are also propelling brands to make eco-ethical efforts and will help this trend become the norm. We’re about to see a future where more mindful and slower beauty consumption will be focused on products’ positive impact – for the skin and for the planet.