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Markets & trends

The future of the US beauty industry will be multicultural

Multicultural women are propelling the US beauty industry forward, says market research firm Mintel, revealing that Hispanic women are the most enthusiastic when it comes to experiment new products meanwhile Black women are more likely to be interested in natural beauty trends.

Hispanic women who perform a beauty routine are also more likely to be interested in multi-purpose beauty products, meanwhile, Black women are more likely to be interested in trends surrounding natural beauty products. Photo: © wavebreakmedia / shutterstock.com

Hispanic women who perform a beauty routine are also more likely to be interested in multi-purpose beauty products, meanwhile, Black women are more likely to be interested in trends surrounding natural beauty products. Photo: © wavebreakmedia / shutterstock.com

It’s an exciting time for multicultural beauty in America as more and more brands are developing products to fit the unique interests and needs of multicultural consumers. The increasing diversity of the country bodes well for the beauty industry. With new launches from brands like Fenty Beauty, Kylie Cosmetics and FORM that offer more options for varying skin tones and hair types, there is opportunity for product usage to grow. Custom-blended beauty products is one area in particular that shows promise as these products resonate with women who may find it difficult to match their skin color and undertones or find the right products for their hair texture,” said Toya Mitchell, Multicultural Analyst at Mintel.

For instance, two thirds (66%) of Hispanic women say they create complex makeup looks, compared to 51% of US women overall. Hispanic women who perform a beauty routine are also more likely to be interested in multi-purpose beauty products (49% vs 41% women overall), in-shower body products (36% vs 27% women overall) and online beauty tools (31% vs 16% women overall). Meanwhile, Black women are more likely to be interested in trends surrounding natural beauty products (64% vs 45% women overall).

K-beauty plays the long game

A recent Mintel research shows that certain trends are ripe for growth in the US market. One in 10 (9%) women thus say they are interested in following the K-beauty (Korean beauty) trend, with interest rising to 13% of those aged 18-24 and 18% of those aged 25-34. Although half (49%) of US women overall follow a one- or two-step skincare regimen, a dedicated three in 10 (29%) say they have a three or more step skincare routine, indicating multi-step K-beauty regimens have potential to resonate with consumers.

Beauty is best when left to its own devices

Eventually, Mintel observes that beauty devices [1] are the fastest growing segment in the US beauty industry. In fact, despite making up just 4% of the market, total retail sales of beauty devices grew 7.6% between 2016-2017 to reach an estimated $1.6 billion. “This is the fastest rate of sales growth the category has seen in the last five years (since 2013),” notes the market research firm. Elsewhere in the category, sales of beauty staples such as colour cosmetics (29% market share) and hair products (28% market share) grew 2.2% in the same timeframe, while skincare (25% market share) grew 1.4%.

While skincare device usage is limited, interest is strong. Although just over one third (35%) of women say they use any skincare device, 41% of women say they are interested in trying one, with laser hair removal devices garnering the most interest (46%).

Future growth is expected to come from new product innovation and the availability of lower-priced skincare devices. We’re seeing customization evolve to include tech tools that diagnose hair and skin issues, with brands making it easier for consumers to bring this trend home," concluded Alison Gaither, Beauty and Personal Care Analyst at Mintel.

Footnotes

[1] Mintel defines skincare devices as cleansing systems, exfoliation systems, LED/laser treatments, hair removal devices, and massagers/infusion systems, and hair appliances as blow dryers, flat irons, curling irons, and hot rollers.

© 2018 - Premium Beauty News - www.premiumbeautynews.com
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