Consumer demands for new and innovative product formulations are constantly changing, making it difficult to stay on top of trends in the beauty industry, especially for manufacturers and suppliers of cosmetics and personal care products.
In this article, we interviewed several industry leaders for their insights and predictions on the biggest beauty trends of 2024. To gain insight from a diverse range of expertise, we spoke to Eleonora Mazzilli, Director of Localization & Business Development for North America for her platform BEAUTYSTREAMS. Rohan Widdison, CEO of cosmetics manufacturer New Laboratories. Monica Ademino, executive director of product development at luxury cosmetics brand group Orveon. She and her CEO at technology company Revieve, Sampo Parkkinen, provided a common perspective.
CDU: What are the most exciting ingredient and product formulation trends that will have a major impact in the coming year for manufacturers and suppliers in the cosmetics and personal care products industry?
Eleonora Mazzilli, Beauty Stream: As shopping behavior has largely shifted towards online channels, we expect more skincare brands to move further into the technology space by offering interactive virtual experiences thanks to AI and VR-enabled tools and services . This transition allows consumers to undergo a virtual skin assessment, eliminating the need to visit a beauty counter or dermatologist’s office.
Customization is at the heart of the move to digital consultations, as new technological advances allow brands to create virtual spaces for personalized skin and beauty solutions. Designed to bring the expertise of dermatologists and skin professionals into consumers’ homes, it introduces innovative new apps, skin diagnostic tools, dermatologist avatars, virtual skin care clinics, and more for prescriptions. Provides advice that is both informed and targeted to consumers’ individual skin concerns. Products backed by experts. AR and VR offer great potential for more multisensory and immersive participation that does not compete with offline experiences, but adds new dimensions to consumer-brand interactions.
Sampo Parkinen, Livieve:Consumers are becoming increasingly aware of beauty products and their impact on personal health and the environment, and are looking for sustainable and eco-friendly products, organic extracts, transparent labels and free of harmful chemicals. Demand for natural plants is rapidly increasing. toxin. Cosmetic ingredients and formulations that prioritize transparency and sustainability, such as biodegradable materials, animal testing, and reduced packaging waste, will be in the spotlight.
CDU: What are the biggest challenges in realizing these trends? What solutions can be implemented to address these challenges?
Rohan Widdison, New Laboratories: For sustainable and biodegradable raw materials, the main challenge lies in sourcing. Providing a consistent, high-quality supply of plant-based and marine-based ingredients while meeting ethical and sustainability standards can be challenging. Establishing strong relationships with suppliers, placing greater emphasis on supply chain transparency, and investing in research to identify and develop alternative sustainable raw materials are ways to overcome this problem.
Monica Ademino, Orbeon: One of the biggest challenges in implementing sustainable beauty packaging trends lies in finding environmentally friendly and functionally effective alternatives to traditional materials. Developing packaging that meets the aesthetic and practical expectations of brands and consumers while minimizing environmental impact is a major hurdle. To address this, the industry can leverage AI to invest in research and development by discovering innovative materials such as biodegradable plastics and reusable packaging options.
Working with sustainable packaging suppliers and engaging in circular economy practices that recycle and reuse packaging materials can also help overcome the challenges associated with sustainable, beautiful packaging. Additionally, to further drive positive change in the beauty industry by raising consumer awareness about the importance of choosing products with eco-friendly packaging and promoting collective responsibility for sustainable choices. I can.
Sampo Parkkinen, Revive: Implementing a virtual beauty experience requires investment in technology and can present challenges in terms of user experience. Solutions include working with technology companies that specialize in digital experiences, prioritizing user-friendly interfaces, and conducting extensive testing to ensure a seamless digital experience. Brands can also provide tutorials and customer support to enhance user understanding and engagement, and prioritize user-friendly interfaces and experiences to drive consumer adoption. Incremental integration and continuous improvement based on consumer feedback can also help reduce risks associated with rapid technological advances.
CDU: What are the most surprising trends you are seeing in the cosmetics and personal care products industry when it comes to ingredients and product formulation? What is surprising about these trends and why?
Monica Ademino, Orbeon: 2024 will see a major departure from traditional formulations as the cosmetics and personal care products industry continues to transition to upcycled ingredients. One of the most surprising trends is the marked increase in ingredients such as pomegranate peel extract and lemon peel. While these were previously considered to be by-products, they are now being recognized for their powerful skin care benefits.
What makes this trend particularly interesting is that it coincides with the growing demand for sustainable and environmentally friendly products. Beauty enthusiasts, especially his Gen Z shoppers, are increasingly prioritizing brands that adopt environmentally friendly practices, and the integration of upcycled ingredients is part of the beauty industry’s efforts to minimize waste. is reflected. Orbeon has developed complexion care products using upcycled pomegranate peels that are specifically designed to enhance skin radiance over time. Pomegranate peels are often discarded as waste during juice production, but they are rich in essential vitamins and minerals.
Orbeon uses these ingredients in its foundations for brands such as Laura Mercier and Bare Minerals, creating a makeup and We provide skin care solutions. The surprising aspect of this trend is its dual impact. That means benefits for both the environment and consumers who are now more informed about the ingredients in their beauty routines.
Eleonora Mazzilli, Beauty Stream: The AI movement has grown across industries in recent years and is the next frontier for product innovation in beauty, creating countless opportunities in the ingredient and formulation space. We believe AI-powered ingredients will drive innovation in the beauty industry.
By combining science and biology with powerful artificial intelligence and machine learning algorithms, we can unlock the next generation of skin care and nutrition ingredients. The discovery of new ingredients has been made possible by employing artificial intelligence computer vision and deep learning applications that can explore potential ingredients found in nature and reverse engineer such ingredients. Additionally, artificial intelligence in the nutraceutical industry will enable the development of next-generation supplements and the discovery of bioactive substances hidden in plants.
CDU: Considering the upcoming MoCRA regulatory compliance requirements, how do these trends fit into the changing industry landscape?
Rohan Widdison, New Laboratories: I see the integration of these emerging trends and future MoCRA regulatory compliance requirements as both a challenge and an opportunity. Tightening standards for ingredient transparency, safety, and environmental impact in the cosmetics and personal care industry reflect consumer demand for sustainable, effective, and non-toxic ingredients.
For example, ocean-derived ingredients must be harvested responsibly, as the ocean is a very fragile ecosystem. Some brands are already responding to this consumer-driven movement, so the regulatory changes won’t have a big impact, but the new law will hold brands that are lagging behind to better standards. That will happen.
Continued investment in research and development and regulatory compliance, no matter what trends are in vogue at the time, as the industry moves towards a more responsible and transparent model in line with MoCRA’s goals. should be encouraged.
Sampo Parkinen, Livieve: Increased transparency throughout the supply chain along with enhanced safety demonstrations are part of the MoCRA regulatory compliance requirements that allow U.S. authorities to regulate cosmetics to increase consumer safety and transparency in cosmetic formulations. It is expected. Recognizing transparency has become paramount.
Supply chain constraints can make it difficult for brands to be fully transparent about their raw material sourcing. However, today’s consumers are not only concerned about which active ingredients are best suited to their personal needs, but also about where and how the ingredients are sourced and whether their origin and manufacturing processes are ethical and sustainable. I would also like to know if there is. The desire for greater transparency will require beauty brands to take ingredient traceability a step further by providing consumer-friendly ingredient labels.
CDU: Who are the driving forces behind these trends, including consumers and industry players? What is the best way to meet the demands of those driving these trends?
Monica Ademino, Orbeon: Current trends in the cosmetics and personal care industry are primarily driven by the influence of Gen Z consumers. This demographic is shaping demand for products that prioritize personal health and embrace a more relaxed, imperfect beauty routine.
To meet the demands of Gen Z, the beauty industry is working to develop products that align with sustainable and environmentally responsible values, incorporating clean, natural ingredients and creating an efficient and simplified beauty routine. We place emphasis on multifunctionality that meets the needs of customers.
Rohan Widdison, New Laboratories: Consumer demand, technological advances, and industry innovation are all drivers of these key industry trends. Consumers are becoming increasingly informed and conscious about what they use on their skin and bodies. These are driving demand for more sustainable, ethical and personalized products. Their increased environmental awareness and concern, combined with their strong interest in health and wellness, is driving many of the trends that are emerging from social media at lightning speed.
Actively interacting with consumers through social media, surveys, and market research helps the industry understand consumers’ evolving needs and preferences and positions brands to meet these demands and capitalize on emerging trends. Helpful. Sound investments in product formulation and technology allow brands to meet consumer expectations for efficacy, safety, and sustainability.
