With consumers returning to social life following the easing of COVID-19 restrictions, GlobalData expects skincare brands to have a surge in popularity as consumers put a greater focus on ‘clean beauty’*. Furthermore, global inflation and the cost-to-living crisis will lead to consumers purchasing fewer and healthier skin products in order to save money.

According to the leading data and analytics company’s latest poll, 30% of global respondents reported that they had spent quite high or very high amounts on skincare in the last three months, with consumers in the Middle East and Africa and Central and South America reporting the highest relative spend. This poll revealed a slight increase compared to Q1 as northern hemisphere countries came out of the winter period and global economic inflation drove up the cost of skincare products.

Ryan Whittaker, Consumer Analyst at GlobalData, comments: “Health has been on everyone’s mind since the onset of the pandemic, and we are seeing consumers becoming more aware of skin conditions connected to skincare. As a result, consumers have moved away from products like acid peels and more towards anti-inflammatory products and probiotics that promise to help the skin biome. For instance, in the UK, we’ve recently seen Aldi launch a Lacura-branded CBD skincare sheet mask, which aims to reduce inflammation, irritation and skin dryness through the use of cannabidiol, charcoal and rosa centifolia while retaining a lower price point.”

GlobalData’s latest Quarterly Market Monitor for the Consumer Health sector reveals that while the value of annual skincare sales are set to increase, markets can expect consumers to seek out clean beauty.

Whittaker adds: “Clean beauty, called ‘skinimalism’ by some, is going to be a major part of the solution to cost-of-living increases in 2022 and beyond with consumers spending less money on fewer products. Inflation and the cost-of-living crisis may also result in a greater movement toward natural beauty in online spaces and potentially a rise in fad diets and natural beauty hacks to retain relevancy.”

*Clean beauty is characterized by consumers using less harsh and fewer products with a greater focus on ‘natural beauty’.