Natural beauty takes center stage
Beauty may be only skin deep, but it can take some deep pockets to keep up with the latest trends and innovations in the personal care department. Because, let’s just admit it—what price vanity?
Beauty is a $55 billion industry, with 5.9% growth at the end of 2023, according to data and insights company SPINS, which collects product scan data in both conventional and natural retail channels.
The smash hit in personal care is the natural beauty sector, which SPINS says grew at an incredible 20.2% rate last year, far above the 4.1% gain seen for conventional products.
While the natural segment is only 10% of the overall market, the fact that it is seeing such outsized relative growth should be of interest to retail pharmacies looking to latch on to the excitement—and sales—in their personal care aisles.
“The mass market is the dominant channel,” said Jessica Rubino, vice president of content at New Hope Network, which produces the Natural Products Expo trade shows connecting brands with retailers, “accounting for 41.6% of natural and organic beauty sales.”
Protecting the planet is top of mind for conscious consumers as the climate crisis and the plastic patch come crashing down on rising generations wondering why their parents made things so ugly.
“Consumers care about the ecosystem,” said Mintz. “They’re seeking products that protect flora, fauna, farmers and their families.”
Certifications that transparently communicate commitment to Mother Earth show brand ethos
that build trust—and return sales—among shoppers. At least a dozen different certifications are at play, from USDA Organic and vegan to B Corp. and the Leaping Bunny signifying no animal testing.