Mintel launches on-line cosmetics analysis service
Covering the cosmetics market in over 50 countries, Mintel Beauty Innovation will provide in-depth analysis of new product launches as well as expert opinions on new ingredients and claims in the beauty world.
Identifying opportunities
“Beauty innovation will help our clients identify the key areas of opportunity for investment in the beauty industry,” said Mintel CEO Peter Haigh.
“Our expert and exclusive analysis will allow them to improve their product offering in an informed and targeted way, so that they can stay one step ahead of the competition.”
Mintel will unveil the tool at the Beyond Beauty trade show in Paris next week where the market research company will also showcase the latest products that fit under the umbrella of authenticity.
Authenticity is leading trend
Looking at the 57,000 beauty products that have been launched so far this year, Mintel sees authenticity as the key trend.
A more honest approach to personal care is emerging as consumers turn against insincere celebrity culture and traditional beauty marketing claims and ingredients.
Reflecting this trend is the rise of organic, ethical and natural products which accounted for one in seven launches this year compared to one in ten last year.
Cosmetics companies are also looking to the East for inspiration.
Mintel beauty analyst Nica Lewis said: “We have seen beauty products increasingly play on ancient, authentic remedies taken from traditional Chinese and Indian Ayurvidic medicine.
“In fact, these ingredients are now even being used in areas that were once solely associated with science, such as anti-ageing, whitening and sun protection.”
“This, combined with the fact that people are now much more aware of the social, environmental and economic impact of the products they buy, has been a key driver in new product development in 2008.”
