Beauty Trends to Look Forward to in 2021

According to all the top Beauty Blog, it is predicted that 2021 will bring revolution in the beauty industry.

As much as we wish to think that buyers are always looking to undertake new beauty products, the Ipsos survey finds most consumers are satisfied with the products they currently use and are available today. Over 80% agreed with the statement “My personal beauty and grooming needs are met by products I can purchase today.” Further, a majority (55%) are likely to “choose a trusted brand that I do know over a replacement brand that I haven’t used before,” with an equivalent percentage (55%) saying “I am loyal to the face, body, hair or manicure items I exploit .”Thus, it's no surprise that Estée Lauder and L’Oreal both posted such strong results recently, with EL income up 9% and L’Oreal up 5.5% last year. Both companies own a plethora of well-established and trusted beauty brands, starting from mass to prestige. Both companies also acquire emerging brands, but not until they need a proven diary . And each companies’ well-earned reputation allows them to introduce new products and makes under their umbrella with less risk than an emerging brand faces. Reputation Institutes’ 2019 Global RepTrak study ranks L’Oreal No. 49 and Estee Lauder No. 53 among the world’s most respected brands.

Consumers’ preference for brands they know and trust poses challenges for brand spanking new beauty brands to breakthrough. New brands must offer something really new and different to tug people far away from what they're using now. Today the worldwide beauty industry may be a $532 billion business. The U.S. currently is that the world’s largest beauty market, with about 20% share, followed by China (13%) and Japan (8%). While projections for growth vary, most agree it'll still advance at a 5%-to-7% compound-annual-growth-rate to succeed in or exceed $800 billion by 2025. Even if the planet economy dips between now then, the sweetness business is more likely than other discretionary categories to carry its own. That’s due to the “Lipstick Effect,” a theory proposed by Professor Juliet Shor back in 1999 in her book The Over-Spent American.