The Growing Demand for High-Performance Skincare

Topic: Consumer Health   |   22 January 2024

The Growing Demand for High-Performance Skincare
Bryter Insight Director Isabel Wood explores global survey results showing consumer behaviours in relation to mental health and wellbeing  

 

Introduction

The health and wellness market is a booming industry that offers an array of products and services geared towards enhancing physical, mental, and emotional wellbeing. The demand for these offerings is driven by the growing interest in preventative healthcare, which has led people to look for ways to maintain good health and avoid illness. Additionally, the aging population's concern with healthy aging has fueled the industry's growth, with a focus on age-related concerns. The emergence of technology, such as wearable fitness-tracking devices, has added an innovative edge to this market, allowing consumers to monitor and manage their health in new and exciting ways.

The health and wellness industry is projected to reach around $7.2 trillion in revenue globally by 2028, which presents an immense opportunity for industry players. But what are consumers’ priorities when it comes to this vast market, and which types of products are they most likely to purchase? A Bryter survey conducted among six global markets (US, Canada, Brazil, UK, Germany, and Italy) investigates this question.

 

What are people buying and why?

A recent Bryter survey among 11,075 global consumers in the US, Canada, Brazil, UK, Germany, and Italy, found the health benefit most likely to make consumers buy health and wellness products is the overall goal of providing immune support (40%). This is closely followed by products that help heart health (39%) and mental wellness / stress management (38%). But we also found that more specialist areas attract significant interest – 27% prioritise products that support gut / digestive health, 18% products that support eye health, and 17% products that improve hair, skin, and nails.

 

 

Skincare, beauty, and cosmeceuticals

The beauty industry is a thriving part of the health and wellness market, offering consumers a range of products and services that not only enhance appearance but also contribute to physical and mental well-being. In recent years, there has been a shift towards natural ingredients and eco-friendliness in response to growing consumer demands for healthier and more sustainable options.

In our survey, products that improve hair, skin, and nails are more likely to be a top priority for younger age groups – 25% of those aged 25-34 and 21% of those aged 35-44 prioritise such products. They are also more of a priority for 21% of women globally, compared to 13% of men.

We also see differences by country. Germany (24%) and the US (21%) are the two countries most likely to prioritise the category. When looking into the US in detail, we see that one third of 25-34-year-old Americans cite hair, skin, and nails as a top priority (33%). This is their third health and wellness priority overall, just behind mental wellness / stress management (40%) and immune support (36%).

The beauty industry never stays still, and there is currently a growing demand for high-performance skincare ingredients and anti-aging tools. In addition to immediate results, consumers want products that will benefit their skin in the long term. Enter cosmeceuticals, a cross between cosmetics and pharmaceuticals, containing bioactive compounds marketed for their medical advantages. Key ingredients such as retinoids, vitamin C, hyaluronic acid, and peptides are recognised as high-performance skincare extracts that can help to improve the appearance of our skin – with medical backing.

This is a product category that could appeal to consumer groups who are traditionally less likely to prioritise skincare and beauty as a health and wellness concern – for example men or older age groups, as seen in our survey. As the beauty industry continues to innovate, it is likely that we will see even more advanced skincare ingredients and tools in the future.

 

Bryter are experts in understanding HCP and consumer needs to help clients maximise opportunity. 

We combine our vast global category expertise and experience with advanced statistical, digital, and behavioral change approaches to generate insight to inform decision making. We have a strong focus on innovation in research and employ a range of in person and digital research techniques to truly understand the needs of healthcare professionals and consumers. 

 

Our work provides strategic, evidence-based guidance from the initial concept and market sizing through to post-launch assessments.  

Contact us today to learn more about how we can assist you in creating a market research plan that provides useful insights for your health and wellness project. 
 

References

https://www.statista.com/statistics/491362/health-wellness-market-value/

 

 

Case Studies

No case study found based on your above filter

Can service and support for connectivity and cloud solutions be onshored?
Can service and support for connectivity and cloud solutions be onshored?

View case study

Virtual Ward scoping for technology and connectivity proposition development
Virtual Ward scoping for technology and connectivity proposition development

View case study

Tailoring Connectivity and Technology Solutions by Industry
Tailoring Connectivity and Technology Solutions by Industry

View case study

MD[x]T in prelaunch claims testing
MD[x]T in prelaunch claims testing

View case study

Book a consultation

You can book a meeting with one of our consultants and we’ll be happy to discuss your current business challenge.