Market research firm Ecovia Intelligence has released its 2019 predictions for the sustainable beauty market.
Here is a summary of Ecovia's 2019 prediction insights:
1. Demand for natural & organic cosmetics is becoming increasingly global. Asia’s share of the international natural cosmetics market is expected to continue to rise, as its consumers seek products without controversial synthetic chemicals. More natural & organic product launches are likely to be in the Asia-Pacific, as well as other regions.
2. Multinationals will continue launching natural and ethical beauty lines.
- Unilever launched Love, Beauty & Planet
- Henkel introduced Nature Box
- L’Oreal launched Seed Phytonutrients and La Provençale Bio.
In 2019, Procter & Gamble (P&G) is set to launch Pure by Gillette and Garnier will launch a new organic skincare line.
3. Expect to see more investments and acquisitions involving natural & organic cosmetic companies. Notable acquisitions in 2018 were Logocos Naturkosmetik by L’Oreal, The Organic Pharmacy by Istituto Ganassini and Natural Products Group by Groupe Rocher.
4. The reduction of packaging impacts. Consumer concerns about plastic pollution in the oceans and landfills is making cosmetic & personal care companies address their packaging impacts. A growing number of companies are looking at sustainable materials and / or eco-design approach. For example, in 2018, REN Clean Skincare received the Sustainable Packaging Award (Sustainable Beauty Awards) for using ocean plastic. More companies are expected to follow REN Clean Skincare, P&G and Henkel in using ocean plastic in product packaging.
5. Cosmetic and ingredient firms will continue to invest in sustainable sourcing of raw materials. More sustainability schemes are likely to be introduced for single ingredients, as well as general sourcing practices. In recent years, many new standards, covering base ingredients (sustainable oils), minerals (Responsible Mica Initiative) and ingredient types (sustainable seaweed) have appeared. In 2018, Union for Ethical BioTrade launched the Sourcing with Respect label.
6. Expect to see more ethical labels on cosmetic & personal care products in 2019. In the last few months, Herbal Essences got the Environmental Working Group (EWG) verification label and Natura Brasil products received Leaping Bunny certification. Other labels making headway include Vegan, Halal, Non-GMO, as well as COSMOS and Natrue (natural & organic labels).
7. There will be more clean beauty retailing. Credo Beauty (which was featured on the August 2018 cover of Beauty Store Business,) has already made its mark in the U.S. as a clean beauty retailer. More such retailers are likely to open their doors in North America and Europe. At the same time, more conventional beauty retailers are having clean beauty sections. Sephora and Space NK are two such retailers devoting shelf-space to beauty products without concerning chemicals. Also, indie brands will continue to gain popularity; Douglas recently announced plans to expand its range of small niche brands in its European retail network.
8. The buying power of millennials will continue to grow. The millennials are already some of the most avid buyers of natural & organic products; they will wield greater influence as their spending power continues to rise. As they buy more from online platforms, Amazon and other e-retailers will gain market share for natural & ethical product.
For more information, visit ecoviaint.com.