The beauty industry has grown exponentially since 2000, with interest and engagement with the cosmetics and personal care market in particular rapidly rising from the beginning of the 21st century to 2021. According to research from Statista, the sector enjoyed year-on-year growth every year, apart from 2020 when the industry experienced an 8% drop due to the Covid-19 pandemic.
The latest research found that the beauty industry was worth £26.7 billion during 2022, outperforming several other markets thanks to its expansion. But which trends sparked the rise (and rise) of the beauty industry over the past two decades? In this article, we take a closer look at how the beauty industry has evolved during the last 20 years…
An industry now open to all
One major change that has impacted the industry over the last two decades is the availability of products and treatments for everyone, and by everyone, we mean everyone!
In addition to there being a greater range of makeup products for varying skin tones and types, the beauty industry now proudly promotes trends and treatments that are designed for women, men, and both of the above.
The increase in the number of unisex products and treatments is feeding into the inclusivity that is prominent across many industry sectors, including the beauty market.
Less makeover, more makeunder
While consumers are spending more on beauty, cosmetics and personal care, their taste in products has changed dramatically. Instead of purchasing goods that provide a hugely ‘made up’ finish, people are investing in products that provide less but more wearable coverage that they can rely on every day.
The natural, ‘no makeup’ makeup look is made possible via a range of breathable and/or tinted products. Less coverage also means people are spending more on skincare to refine a routine that ensures a fresh, healthy, hydrated base for makeup.
Technology is paving the way
The use of technology throughout the beauty market has exploded during the last 20 years, and there have been breathtaking advancements as a result. Beauty salons now deliver a selection of face and body treatments via devices that use lasers or intense pulsed light (IPL), LED, ultrasound and radio frequency.
These advances in technology haven’t just revolutionised in-salon treatments. They’ve transformed the cosmetic and plastic surgery sector. With this in mind, non-invasive surgeries, such as lip fillers, facelifts, nose jobs and Botox have risen in popularity. While breast enlargement, tummy tuck and liposuction procedures have been made simpler, safer and more successful by the use of technology such as computer-assisted imaging and micro-devices.
What the future holds for the sector
With routines and techniques continuously evolving, the beauty industry is one sector that is likely to experience more significant changes long into the future.
From the way you dry your hair (vacuum-like blow dryers are already becoming commonplace within the home) to how you view your complexion (‘smart’ mirrors are emerging devices that detect skin imperfections so you can apply makeup and cosmetics more effectively), the industry is already introducing technology that could shape the future of your skin and wider appearance.
Non-invasive treatments that can be undertaken with little recovery time and lower risks are also set to grow in popularity as they advance and progress. Treatments such as Morpheus8 are thought to be particularly effective at combatting the signs of ageing without using a scalpel or injectables.
Wondering how much does Morpheus8 cost? Shop around to find the best prices. But please ensure that you only ever engage with reputable and well respected providers able to showcase many testimonials and happy customers.