To gain a competitive edge in the dynamic and rapidly evolving beauty industry, emerging beauty brands must proactively adopt cutting-edge solutions to meet consumer demand in the beauty and personal care market.
The beauty and personal care market is projected to undergo substantial growth, from US $91.34 billion in 2023 to US $104 billion by 2028.1 By embracing innovation at every level of their business, these brands can differentiate themselves from the competition and establish a robust foothold in the market.2
An exciting development here is the recent partnership between two industry leaders, Meiyume and Active Concepts, who have come together through the joint venture of Active Innovation.
Meiyume has established itself as a reliable one-stop-shop global supplier of beauty products and retail solutions, while Active Concepts is a renowned supplier of specialty ingredients to the personal care industry. Active Innovation presents an exceptional opportunity for beauty brands, offering a comprehensive advantage that spans the entire process of developing and launching cutting-edge beauty products for discerning consumers of today and the future.
As a vertically-integrated brand development platform, Active Innovation provides brand builders with individualized services, seamlessly combining product ideation, package conceptualization, and custom componentry to craft emerging brands and products with unrivaled expertise and efficiency. All aspects of brand development, from conception to launch, are housed in a purpose-built facility in Lincolnton, North Carolina, where full product development, salon testing, performance substantiation, and small-scale production capabilities can be carried out under one roof.
Navigating the beauty landscape through insights-driven innovation
1. Customized Innovative Formulations
The demand for innovative cosmetic ingredients is driven by consumers' increasing awareness of skincare, grooming, and physical appearance, as well as their preference for organic and vegan skincare products due to skin sensitivity issues, lifestyle choices, and allergies.3 To cater to these demands, companies are now seeking custom formulation services to develop unique products tailored to clients' specifications.
Active Innovation works closely with brand owners to develop customized formulations that align with their brand identity and target market. Active Innovation can create tailormade cosmetic products that meet specific marketing desires, that include vegan formulations, sensitive skin-friendly products, among others, or products with targeted performance claims. This customization ensures that a brand's products stand out and resonate with its target consumers.
2. Sustainable Beauty Solutions
In the current beauty landscape, sustainability is a top priority for many consumers.4 Millennials in the United States emerged as significant spenders in both the overall personal care and sustainable personal care markets in 2021.5
The sustainable personal care market is divided into organic and natural/green products, including skin care, hair care, oral care, hygiene products, among others. Within this market, the skin care segment holds the largest revenue share due to a growing global emphasis on enhancing skin quality.6
Active Innovation focuses on developing sustainable cosmetic ingredients and formulations that are environmentally friendly and meet consumers' preferences for eco-conscious products. This is achieved by creating biodegradable packaging materials, sourcing ingredients from sustainable and ethical suppliers, or developing formulations with minimal environmental impact. This commitment to sustainability aligns with the brand owners' goals of offering eco-friendly options to their customers.
3. Regulatory Compliance
While cosmetic products and ingredients (excluding color additives) do not require FDA approval prior to market entry, they are still subject to laws and regulations that govern cosmetics in interstate commerce.7 As a result, companies need to ensure all developed ingredients and formulations meet the necessary regulatory standards and guidelines, offering brand owners peace of mind that their products are compliant with relevant regulations and can be safely marketed and sold.
Active Innovation ensures that all developed ingredients and formulations meet the necessary regulatory standards and guidelines. This expertise in regulatory affairs gives brand owners the reassurance that their products are compliant and can be sent to market.
4. Market Trends and Insights
By leveraging industry research and market analysis, Active Innovation can provide brand owners with valuable insights and recommendations on product development and marketing strategies. Leveraging on Meiyume’s beauty trend engine, the partnership can identify emerging skincare trends, such as clean beauty or personalized skincare. This enables brand owners to capitalize on these trends by developing innovative products that cater to consumer preferences.8
Innovative solutions for the future of beauty
Active Innovation is a significant development in the US beauty industry. By combining the expertise of both companies, it offers a unique and comprehensive solution to emerging beauty brands, such as innovative product development and custom packaging solutions tailored to meet the increasing demand for natural, efficacious products packaged in a sustainable way.
By engaging with Active Innovation, brands can benefit from the team’s expertise, gaining a competitive edge in the dynamic beauty industry. Whether it is creating eco-friendly packaging solutions or developing innovative beauty products, Active Innovation is in a strong position to meet the diverse needs of brands and establish itself as a leader in the industry. Beauty brands can discover the future of beauty with Active Innovation to unlock new opportunities, differentiate themselves and thrive in the ever-evolving beauty market.
Contact Meiyume at marketing@meiyume.com to learn more about how their sustainable beauty innovations can enhance your beauty brand.
References
1. Mordor Intelligence. United States Cosmetics Products Market Industry.
2. Accenture. The reinvention of beauty.
3. Fortune Business Insights. Skin Care Market.
4. Exploding Topics. Beauty Industry Stats.
5. Baba Blog. Gen Z and the Beauty Industry in the United States 2022.
6. Grand View Research. Skin Care Products Market.
7. U.S. Food and Drug Administration (FDA). Small Businesses & Homemade Cosmetics Fact Sheet.
8. CosmeticsDesign-Asia. The value of being an insights-driven enterprise.
