Oleon Health and Beauty reflects onMintel’s top beauty and personal care trends for 2024
Oleon Health and Beauty (‘Oleon’), a global supplier of specialist chemicals and ingredients to the personal care and beauty industry, understands the importance of tracking the latest consumer trends and market movements to support brands and manufacturers in new product development.
“At this time of global uncertainty, we continue to see significant impacts around economic and political instability, the growth in AI, and the lingering effects of the COVID-19 pandemic,” Ine Matthé, Product Manager at Oleon Health and Beauty says.
“The ability to have our finger on the pulse of the sector not only allows us to adapt our product solutions to new and emerging trends and technologies but, critically, gives us a better understanding of their impact on new product development for our customers. It allows us to ask, ‘What comes next?’ ‘How can I bring this trend to life for my brand’ or ‘How can I effectively prioritize which trends offer the greatest opportunity for growth?’
“Mintel’s most recent report for 2024, Global Beauty and Personal Care Trends calls out three trends we believe are reflective of the changing dynamic in the beauty and personal care industry,” Ine notes. The first trend unpacks the interconnected relationship between mental well-being and physical appearance under the banner ‘NeuroGlow’. It highlights the importance of focusing on a comprehensive approach to beauty: not only improving physical appearance but measuring its impact on mental well-being through championing current challenges in the sector, such as inclusivity, diversity, personalization, and body positivity.
“Mind-body wellness is entrenched in our company DNA and has a direct bearing on product development: How we approach the multifunctionality of a product and embrace body positivity across gender, race, and age. In addition, we are continually developing innovative products to assist microbiome and skin barrier health by focusing on how uncompromised skin can impact self-esteem and confidence,” Ine explains. The second trend is linked to AI – which is revolutionizing the beauty industry by accelerating product development and promoting inclusivity.
“We are seeing brands innovate at large scale with AI systems that can identify sustainable product alternatives to replace harmful ingredients in cosmetics. This resonates with us. We now have an innovative enzymatic esterification plant where ingredients are produced with sustainability in mind. We distinguish this enzymatically produced product range by the tag “ACT” because we act towards a greener future by reducing greenhouse gas emissions,” Ine points out. The third trend reflects on paradigm shift as consumers demand effective, high-quality products that prioritize efficacy and functionality over extravagant packaging and flashy marketing campaigns.
“The Sophisticated Simplicity trend emphasizes the quality of ingredients, the effectiveness of products, and the reassurance of simplicity. Our Jolee® brand consists of high-quality products that reflect this commitment by cutting out the noise and enabling formulators to develop multi-functional products that can be used in body, face, and hair care with an impressive sensory and textural feel, lightness, and bounce,” Ine concludes. Trend forecasting and new product development remain important catalysts in driving growth for brands and manufacturers.
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