Growth in multifunctional products slower in UK than other markets
Multifunctional beauty is the key trend set to impact the global beauty market in 2014, according to market analyst firm Mintel, although the UK is slower to take up these products than the US and China.
Products that combine skincare and cosmetic technologies, such as BB creams, have proved increasingly popular among beauty consumers, thanks to their time and money saving properties.
According to Mintel’s research, just 25% of UK women said they were interested in products that combined cosmetics with skincare, compared to the 70% of US women that are interested in multifunctional lip products and 46% in China that would like to try new products with a multifunctional offering.
Jane Henderson, global president of Mintel’s beauty and personal care division, said, “This is a key mega trend, in development for the last year or so, but we are set to see it really accelerate in 2014. We are now seeing manufacturers take inspiration from completely different categories to create new products and marketing messages. The huge success of BB creams has led manufacturers to think about how they can build on their existing portfolios and add excitement to sometimes saturated sectors.”
Mintel also predicts that new cosmetic and skincare technologies will appear in products outside the beauty market. Christopher Lindsley, global skincare analyst at Mintel, said, “The first treatment fragrances have already hit the market, and textiles and food and drink are making growing use of skincare actives too. In the future, we will see targeted skincare delivery systems through fabrics, fragrances and food, and further work on hybrids that bring together skincare, devices and diagnostics.”