Healthy Living: The New Face of Healthy Ageing
Beauty and personal care experienced another strong year of growth in 2017 with sales advancing by 5% and the premium segment once again outpacing mass growth. While colour cosmetics is not yet giving up its leading positions emerging as the fastest growing category for the third consecutive year, skin care is back in the spotlight in 2017 driven by the healthy living megatrend. Recognition of prevention across all consumer demographics in pursuit of healthier lifestyles echoed in the growth of thriving categories such as face masks, facial cleansers and moisturisers that help maintain healthy looking skin. At the same time, anti-agers remain dynamic as those are more expensive as a rule and are benefiting from consumer’s willingness to spend more on premium products. Besides, number of consumers are still looking for traditional efficacy solutions. Generally it is seen that brands are adopting new anti-aging language using softer and more positive wording such as “ageless”, “positive ageing”, “slow ageing” to appeal to a wider consumer group seeking prevention over treatment.
Prevention reflected in the sought after benefits
Recognition of prevention throughout all life stages is paramount. Younger consumers are pursuing prevention over cure strategies when it comes to ageing. At the same time, baby boomers are redefining ageing. They are less conservative than their predecessors and are influenced by media images of active and wrinkle-free models and celebrities. They are generally unwilling to take a passive attitude towards ageing, and are attempting to remain youthful, healthy and energetic for as long as they can. Results from Euromonitor International’s Beauty Survey 2017 confirm that consumers’ skin care purchase motivations are largely governed by high expectations of product benefits that will suit their skin’s needs, address specific concerns and perfect their skin’s look and feel. At the same time, purchase motivations focused around correction of the signs of ageing are lower on the list of consumer priorities. When it comes to product benefits, products that protect from sun damage and/or pollution, fight free radicals, minimise pores, provide anti-oxidants and prevent wrinkles or fine lines are sought by consumers of all ages as they are adopting preventative regimes countering general lifestyle aggressors without the age label.
Multi-faceted dimensions of healthy ageing
In pursuit of a more preventative approach to staying healthy, consumers are adopting holistic regimes, inclusive of physical form, mental wellbeing and nutrition. Nutrition, one of the key factors for maintaining health is scrutinised by consumers as they are choosing more conscious alternatives, incentivising manufacturers to replace artificial ingredients with natural ones. Consumers are opting for simplification of ingredients to only include the necessary and natural components which opens space for the range of clean label brands that include few and purely natural ingredients. Food and beverage-inspired initiatives are gaining consumers’ attention in the beauty market with the rise of brands such as Kale which uses superfoods as the main product ingredient, while Beautycounter in the US has excluded 1,500 harmful ingredients from its product formulations.
Health has emerged as a new wealth, and in a bid to prevent ageing, consumers are investing time and financial resources into physical activities with participation in different sports activities accelerating every year. As exercise becomes a social event, it breeds a need for more fashionable and flattering sports attire, as well as beauty products that are conducive to extreme conditions, and can withstand the sweat test. The athleisure movement is hitting the beauty industry, giving rise to the plethora of gym beauty brands, such as Yuni Beauty and Clinique Fit, for example.
As consumers begin to pay more attention to improving their physical wellbeing, they are also turning their attention to their mental wellbeing as a means to achieve optimum health and maximise healthy years. The advice that “all you need is a good night’s sleep” is as old as time, but a good night’s sleep (usually defined as eight hours or more) is increasingly elusive to the busy and connected consumer. Beauty brands are moving into the larger wellness space launching products marketed as beauty sleep manifesters such as This Works’ range which claims to provide a better night’s sleep.
Healthy Ageing: expanding the business opportunity
Prevention is paramount across all age groups and to maximise on the trend companies need to develop and market products that would help to prevent ageing rather than treat the consequences. For brands it is essential to adopt a multi-pronged strategy which considers all aspects of the ageing process, including nutritional habits, physical form, and mental wellbeing.
Kseniia Galenytska, senior beauty and fashion analyst at Euromonitor International, will present on ‘Healthy Living: The New Face of Healthy Ageing’ at in-cosmetics Global on Tuesday 17 April from 10.15-11.00.
Euromonitor will also be giving away a free report and a copy of each presentation from the event. Register to receive your copy here.