Table of Contents
Executive Summary
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- Bring emotional benefits and holistic wellness into skincare
- Reimagine wellness rituals for fast-paced lifestyles
- Make the clinical skincare space more “fun” with unique product formats
- Focus NPD on skin health and the microbiome
- Ingestible products stand to resonate with Hispanic consumers
- Sustainability will shape the future of skincare
- Be an advocate for preservation
- Bring transparency into the sustainability movement
- Tap into skinimalism trends to denote sustainability and quality
- Leverage recognizable and clinically backed ingredients to improve trust
- Skincare is going back to the basics
- Encourage trade-ups by proving product efficacy and safety
- Increase repeat purchases by harnessing new technologies
- An “ingredient-first” approach to shopping increases demand for transparency
- Market overview
- Impact of COVID-19 on facial skincare
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- Figure 1: Short-, medium- and long-term impact of COVID-19 on facial skincare, June 2021
The Market – Key Takeaways
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- Momentum slows, but market continues to grow
- Skincare experiences the “mask effect”
- Prove value and results by harnessing new technologies
Market Size and Forecast
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- Momentum slows, but market continues to grow
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- Figure 2: Total US sales and fan chart forecast of facial skincare products, at current prices, 2016-26
- Figure 3: Total US retail sales and forecast of facial skincare and anti-aging products, at current prices, 2016-26
- Impact of COVID-19 on facial skincare
Segment Performance
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- Skincare experiences the “mask effect”
- Will the future of anti-aging complement or compete with professional services?
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- Figure 4: Total US retail sales of facial skincare and anti-aging products, by segment, at current prices, 2019 and 2021
Market Factors
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- Encourage trade-ups by proving product efficacy
- Focus on sensory benefits to boost men’s participation
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- Figure 5: Repertoire of product usage, by men’s age group, March 2021
- Prove value and results by harnessing new technologies
- Pandemic-induced trading-down behaviors could continue long-term
Companies and Brands – Key Takeaways
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- Leading companies benefit from “expert” approval
- Bring “fun” into the clinical skincare space with unique product formats
- Highlight that recognizable ingredients denote safety
Market Share
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- Leading companies benefit from “expert” approval
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- Figure 6: TikTok – Skincare by Hyram
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- Figure 7: Multi-outlet sales of facial skincare and anti-aging products, by leading companies, rolling 52 weeks 2020 and 2021
Competitive Strategies
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- Bring “fun” into the clinical skincare space with unique product formats
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- Figure 8: Mintel GNPD – Starface and Peace Out Skincare
- Brands are renovating offerings to meet new lifestyle needs
- Makeup brands blur category lines with hybrid products…
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- Figure 9: Mintel GNPD – Kosas
- …and skincare brands are expanding from the face to the body
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- Figure 10: Mintel GNPD – Summer Fridays
- Tap into skinimalism trends to denote sustainability and quality
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- Figure 11: Mintel GNPD – Covey
Market Opportunities
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- Highlight recognizable ingredients to denote safety
- Adjust communication strategies to align with key audiences’ desired results
- Focus NPD on skin health and the microbiome
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- Figure 12: Mintel GNPD – Sunday Riley
- Figure 13: Drunk Elephant – Microbiome vs. skin barrier
- Sustainability will shape the future of skincare
- Be an advocate for preservation
- Bring transparency into the sustainability movement
- Take Gen Z’s love of TikTok’s entertainment value to the next level for continued engagement
The Consumer – Key Takeaways
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- Consumer segments defined by attitudes toward facial skincare
- Position on-the-go products as micro-moments for self-care
- Target innovation to serve both physical and mental health
- Encourage trade-ups and boost repeat purchase rates by demonstrating and proving efficacy
- Ingestible products stand to resonate with Hispanic consumers
- Reduce confusion and build loyalty with customizable products
Consumer Segmentation
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- Figure 14: Facial skincare segmentation, March 2021
- Group 1: Skincare Specialists
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- Figure 15: Attitudes toward skincare, by skincare specialists, March 2021
- Group 2: Passionate Pragmatists
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- Figure 16: Attitudes toward skincare, by passionate pragmatists, March 2021
- Group 3: Functionalists
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- Figure 17: Attitudes toward skincare, by functionalists, March 2021
- Group 4: Enthusiastic Experimenters
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- Figure 18: Attitudes toward skincare, by enthusiastic experimenters, March 2021
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Product Usage and Frequency
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- Product staples benefit from strong usage
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- Figure 19: Product usage, March 2021
- Women drive category growth
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- Figure 20: Product usage, by gender, March 2021
- Shifting preferences among younger consumers give rise to new, eco-friendly formats
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- Figure 21: Dieux Skin – Forever Eye Mask
- Figure 22: Experiment Beauty – Avant Guard
- Biodegradable ampoules make single-use eco-friendly
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- Figure 23: Product usage, by age, March 2021
- Products that match the results of professional services stand to resonate with Hispanic consumers
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- Figure 24: Select product usage, by race and Hispanic origin, March 2021
- COVID-19 impacts product usage frequency
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- Figure 25: Product usage frequency, March 2021
Reasons for Using Skincare Products More or Less
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- Target innovation to serve both physical and mental health
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- Figure 26: Reasons for using skincare products more often, March 2021
- Expect conscious consumption and “skinimalism” trends to impact usage frequency post-pandemic
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- Figure 27: Experiment Beauty – Sustainability post
- Figure 28: Reasons for using skincare products less often, March 2021
Purchase Influencers
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- Encourage trade-ups by demonstrating efficacy
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- Figure 29: Purchase influencers, March 2021
- Highlight convenience to appeal to men
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- Figure 30: Purchase influencers, by gender, March 2021
- Expect mass brands to tap into the menopause market
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- Figure 31: Purchase influencers, by age, March 2021
Benefits Sought
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- Evolve “ingredient stories” into “formula stories”
- What’s happening now and why are consumers purchasing based off ingredients?
- What’s next?
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- Figure 32: Instagram post – Here’s what an INCI doesn’t tell you
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- Figure 33: Benefits sought, March 2021
- Higher expectations from routines creates room for complementary ingestible products
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- Figure 34: Benefits sought, by race and Hispanic origin, March 2021
- Expect the sun protection space to heat up
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- Figure 35: Benefits sought, by segmentation, March 2021
Interest in Skincare Trends and Innovations
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- Skin minimalism is driving interest in multipurpose products
- What’s next for K-beauty?
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- Figure 36: Interest in skincare trends and innovations, March 2021
- Reduce confusion and build loyalty with customizable products
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- Figure 37: Interest in skincare trends and innovations, by age, March 2021
Appendix – Data Sources and Abbreviations
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- Data sources
- Sales data
- Forecast
- Consumer survey data
- Consumer qualitative research
- Abbreviations and terms
- Abbreviations
- Terms
Appendix – The Market
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- Figure 38: Total US retail sales and forecast of facial skincare and anti-aging products, at inflation-adjusted prices, 2016-26
- Figure 39: Total US retail sales of facial skincare and anti-aging products, by segment, at current prices, 2019 and 2021
- Figure 40: Total US retail sales of facial skincare and anti-aging products, by channel, at current prices, 2016-21
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Appendix – Companies and Brands
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- Figure 41: Multi-outlet sales of facial anti-aging products, by leading companies and brands, rolling 52 weeks 2020 and 2021
- Figure 42: Multi-outlet sales of facial cleansers, by leading companies and brands, rolling 52 weeks 2020 and 2021
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- Figure 43: Multi-outlet sales of facial moisturizers, by leading companies and brands, rolling 52 weeks 2020 and 2021
- Figure 44: Multi-outlet sales of acne treatments, by leading companies and brands, rolling 52 weeks 2020 and 2021
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- Figure 45: Multi-outlet sales of lip balm, by leading companies and brands, rolling 52 weeks 2020 and 2021
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Appendix – The Consumer
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- Consumer segmentation factors
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- Figure 46: Attitudes toward skincare, March 2021
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