SINGAPORE, Dec. 13, 2022 /PRNewswire/ Mintel, the experts in what consumers want and why, has today announced three key consumer trends set to impact the global beauty and personal care industry in 2023,with implications over the next 5+ years: Beauty Rx:The medicalisation of beauty is leading to more demand for proof behind claims, creating value through ingredient-led products and driving the market for synthetic natural ingredients. Evolved Self-Care: Beauty is intended to be uplifting and can contribute to a post-pandemic sense of self-care that includes sexual wellness, the hormone journey and wellness for every life stage. New Rules of Engagement:Brands should embrace disruption in the category to create new rules for engagement and building communities, allowing for more playfulness, experimentation and DIY. Looking ahead, KinShen Chan, Senior Beauty and Personal Care Analyst, South APAC, identifies the upcoming trends in consumer behaviour, product innovation and marketing tactics that will impact the future of the beauty industry. Beauty Rx "As the hunger for more efficient and potent products and treatments grows, consumers will look further to find proof that their money is being well-spent. Potential developments from beauty brands could come from the emergence of genetic sequencing and advances in diagnostics and wearable devices. Expect to see major opportunities stemming from hormones, health risk and diagnosis, 3D printing, personalised vitamins and supplements, and gene editing. Meanwhile, synthetic biology technologies are finally maturing, offering a way for almost anything to be manufactured competitively and sustainably. The beauty industry must learn to use this technology to develop new products and processes, improve existing ones and reduce costs to remain competitive in the future." Evolved Self-Care "While the amount of time consumers have to spend on wellness routines is contracting, when faced with stress and upheaval, they will look for ways to uplift themselves and beauty is the perfect category to support that. But no matter the approach brands and retailers take, it's critical to ensure that all consumers feel seen and spoken to. Looking ahead, the importance of community will continue to grow post-pandemic as people look to reconnect and feel a part of the collective. No longer will a singular approach to wellness be acceptable. The concept of community self-care will gain popularity as people recognise the importance of helping one another as a way to help everyone live better and feel better. In the future, expect to see global beauty companies focus on holistic habits and products that support everything from sleep to blood circulation and their connection to beauty." New Rules of Engagement "Experimentation drives engagement and technology will usher in the next generation of experience, whether in the store or the home. As online and offline formats continue to merge, technology will allow for the replication of experiences across channels with simple approaches, from RFID (radio-frequency identification) to digital avatars and the metaverse. Looking ahead, the development of VR (virtual reality) technology, hardware and content will become convenient and practical enough for consumers to use every day. This will enable brands to use these technologies strategically to create 'phygital' (physical and digital) experiences that will dominate the way consumers discover, shop and connect with brands." Interviews with Mintel's Global Beauty and Personal Care Analyst team are available on request from the Mintel Press Office. Mintel's 2023 Global Beauty and Personal Care Trends are available for free download here. About Mintel Mintel is the expert in what consumers want and why. As the world's leading market intelligence agency, our analysis of consumers, markets, product innovation and competitive landscapes provides a unique perspective on global and local economies. Since 1972, our predictive analytics and expert recommendations have enabled our clients to make better business decisions faster. Our purpose is to help businesses and people grow. To find out how we do that, visitwww.mintel.com
SINGAPORE, Dec. 8, 2022 /PRNewswire/ Mintel, the experts in what consumers want and why, has today announced four key trends that will shape global food and drink industries in2023, over the next five years and beyond. Weatherproofed Provisions: Consumers are in need of food and drink formulations that help them endure heat waves, sub-zero temperatures and disastrous weather events. Staying Sharp: Consumers are demanding formulations that help them optimise their mental performance at work, home and play. Cosmic Comforts: As Earth endures more chaos, space will become a source of optimism, innovation and connection. Minimalist Messaging: Clear and simple communication will be essential to connect with fatigued consumers. Centred around space, climate change, mental performance and the overwhelmed consumer, this year's trends make recommendations for brands to reassure consumers who continue to be challenged to adapt to a precarious world. Looking ahead, Rebecca Vella, Director of Insights, Mintel Food & Drink, APAC, discusses how companies will adjust, diversify and innovate to reassure anxious consumers in the years to come. Weatherproofed Provisions "Adaption and resourcefulness will be the name of the game as brands innovate to help consumers deal with the harsh effects of the planet's more dangerous weather. From polar vortexes to heat waves, consumers will look for products that help their bodies withstand the varying temperature extremes. Food and drink innovations also will be called upon to deliver easy-to-use nutrition during catastrophic floods and other weather-related disasters. Meanwhile, the genuine demand for energy savings in 2023 will drive a new found appreciation for the benefits of having energy-efficient food and drink on hand during extreme weather. Stronger UV rays will create demand for functional food and drink with skin health benefits, while shelf-stable formats will prove to be life-savers as brands face up to the reality of supply chain issues. Beyond mainstream needs, brands will innovate emergency food and drink for special diets, children and the elderly. While pet food brands would do well to explore how to help our beloved pets endure severe weather." Staying Sharp "Focus and productivity are the next mental and emotional wellbeing functionalities that consumers will be seeking. Consumers will look for food and drink that influence cognitive capacity, manage stress levels and optimise brain function. Expect to see brands promoting the brain boosts available from familiar energising ingredients, such as plant-based ingredients like fruits, vegetables and legumes and caffeine (in moderation). But research will be needed to prove to consumers that the range of natural and functional ingredients from B vitamins to nootropics deliver on their cognitive health promises. New research and patents related to the gut-brain axis will create opportunities to highlight how the digestive health benefits of pro-, pre- and post-biotics support cognitive health. These science-backed advancements will enable fibre-rich foods such as produce to shine." Cosmic Comforts "In the not-too-distant future, space will become less whimsical and more tangible. Centring around escapism, the food and drink market will take inspiration from space-inspired technologies and earthly innovations from space travel findings-think lunar minerals and zero-gravity dining. The undiscovered novelty of outer space will have a particularly unsullied charm for Gen Z, who are disillusioned with the world as it is, but brands should also consider the inspirational role space will have in Gen Alpha's lives. New technologies, including resource-efficient agriculture and powdered protein, will come to light, giving food and drink brands a wider variety of space-inspired themes. Astronauts require food and drink solutions that can facilitate multi-year missions into deep space and these breakthroughs may well prove useful on Earth." Minimalist Messaging "When it comes to brands communicating with customers, clarity and simplicity will prove to be a winning formula. Communication will be streamlined to the essential selling points as consumers seek brands that focus on their advantages on pack-and save story-telling for websites, social media and marketing. Products with clean designs that highlight natural ingredients and key health benefits will satisfy shoppers who are looking to escape information overload. Over the next decade, expect to see consumers rely on more virtual solutions to inspire, educate and affirm their purchases. Brands will share information on eCommerce sites to ensure their stories and benefits reach consumers who rely on their smart assistants, smart refrigerators or, eventually curated shops in the metaverse to filter out items that do not meet their pre-set preferences." Interviews with Rebecca Vella, Director of Insights, Mintel Food & Drink, APAC, or other Mintel experts are available on request from the Mintel Press Office. Mintel's 2023 Global Food and Drink Trends are available for free download here. About Mintel Mintel is the expert in what consumers want and why. As the world's leading market intelligence agency, our analysis of consumers, markets, product innovation and competitive landscapes provides a unique perspective on global and local economies. Since 1972, our predictive analytics and expert recommendations have enabled our clients to make better business decisions faster. Our purpose is to help businesses and people grow. To find out how we do that, visitwww.mintel.com