Clean beauty: from consumerism to lifestyle
The Beauty & Personal Care sector encompasses consumer goods for cosmetics and body care. Worldwide, this market represents US$625.70bn in 2023 and is expected to grow by +3.32% in the upcoming years. The US is the 1st country in the world generating revenue on Beauty & Personal Care, closely followed by China and Japan.
What makes this market so successful?
Consumers are no longer seeking care products; they are also looking to invest their money according to their values. Among others, ingredients transparency and the absence of animal testing are topics that consumers are taking more and more to heart. In fact, it turns out that clean beauty and ethical speding have become a lifestyle! This change of patterns especially happened after COVID-19. In that period, the market registered a significant shift in consumer behavior, leading consumers to purchase more personal care and skincare products over cosmetics, which dominated the Beauty landscape in the past.
Companies are showcasing their values and mission by respecting ethical standards in Personal Care, but they also ensure to create a positive customer journey. By living a satisfying experience, the customer will have a positive memory of the company, walking the first step towards brand loyalty. Furthermore, consumers want to identify themselves within the brand. Thus, a company selling clean beauty products does not only embody its values, but it also shows its committment to environmental responsibility – and, as a result, it attracts more ethical consumers willing to make sustainable choices.
Source: “Beauty & Personal Care – Worldwide”, September 2023, https://www.statista.com/outlook/cmo/beauty-personal-care/worldwide#analyst-opinion