Euromonitor predicts growth for products merging health with beauty in new webinar
A recent webinar hosted by Euromonitor International (London, UK) called “Health and Beauty in the Coronavirus Era” details how consumer attitudes and consumption habits are shifting during the global health crisis.
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A recent webinar hosted by Euromonitor International (London, UK) called “Health and Beauty in the Coronavirus Era” details how consumer attitudes and consumption habits are shifting during the global health crisis. While Euromonitor predicts negative sales in the global beauty market in 2020 due to the COVID-19 pandemic, certain wellness trends will experience growth as concepts of health and beauty merge. Namely, consumers are turning their attention to products and services focusing on health, “clean” propositions, and emotional well-being. For example, immunity and prevention drive growth of immunity positioned supplements by 14% in 2020.
“Health and beauty continue to merge as ‘wellness beauty’, benefiting not only high-priority hygiene essentials, such as hand soap and sanitizers, but also the ‘clean to conscious’ movement in which safety, sustainable sourcing and ingredient transparency will be even more sought after,” says Irina Barbalova, global head of health and beauty, at Euromonitor International, in a press release.
Based on Euromonitor’s “Global Health and Nutrition Survey,” mental wellbeing is cited by 65% of global consumers as a key factor in the perception of health. “Every health and beauty brand should be mindful of mental and emotional health coming to the frontline within the wellness segment,” says Matthew Oster, global head of consumer health at Euromonitor International, in a press release. “Cultivating the notion of inner calm, balance and emotional support through product and service formats, digital applications, ingredient formulations, as well as community-driven platforms will become a core manifesto for many brands.”
The webinar can be accessed for free, here.
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