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Monday, 9 July 2018

Trends shaping the personal care industry

According to a report by Indian Beauty & Hygiene Association (IBHA), the beauty and personal care (BPC) segment in India is expected to touch $10 billion by 2021 growing at an annual rate of 5-6 per cent on the back of evolving consumer awareness and aspirations.
In the past, brands alone would define what qualified as beauty. Now however, with multiple options to choose from, consumers are in the driving seat and have a larger say in the ever-evolving perception of beauty.
In 2018 and beyond, as consumers create their own definitions of beauty, which look beyond age, gender, and body type, brands that try to appeal to the ‘mass’ will miss the mark. Consumers will demand that their individual needs are catered to with multiple options or customizable beauty. Brands will have to embrace inclusivity and address individual beauty concerns, which will result in more personalization of their products.
Elaborated below are some major trends set to influence the sector.
1. Better informed and empowered customers
Using and marketing natural ingredients within personal care products is vital in addressing growing consumer concerns. Consumers today are more knowledgeable and wary of chemical ingredients found in their cosmetic products. Delivering organic products and creating formulas free of chemical ingredients will be key to appeal to the modern consumer. Organic formulations and natural ingredients are fast becoming a standard within the segment.
The growth in the demand for natural and organic personal care products is expected to continue to grow rapidly. The beauty and personal care industry’s approach to natural and sustainable ingredients will have to adapt accordingly. A shift to become more ‘environment friendly’, with the possibilities for creating allergen free, pure and safe ingredients through science could replace the existing system of sourcing ingredients.

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