The Ath-beauty trend has gained traction recently and isn’t going away soon. The trend, which melds athletic and fitness routines with customary beauty practices, focuses on helping consumers stay and look fresh while enjoying an active lifestyle in sports and fitness.
This article will highlight four profitable Ath-beauty trends and product development practices to maximize profit in 2024.
How big is the beauty product industry?
According to research, the global cosmetics market will be worth US$ 262.21 billion in 2022 and is anticipated to increase with an estimated compound annual growth rate of 4.2% from 2023-2030.
The endorsement of skincare and personal care products and the rising global aging population are major market drivers. In addition, growing fashion trends and manufacturing innovations in the skincare and hair color industry also contribute to the market’s expansion.
Other growth factors include social media influence, recent consumers’ preferences for organic cosmetic products, increasing skincare awareness among men, and the growing population of financially independent women.
On the other hand, over-dependence and abuse of cosmetic products is linked to health problems due to the addition of harmful chemicals. This adverse effect is expected to hamper the market’s growth during the forecast period.
By product, the market is segmented into skincare, haircare, makeup, fragrance, and personal/hygiene products. Skincare products top this market division by holding over 38% of the total revenue in 2022.
The segment’s success can be ascribed to the notable increase in cosmetics such as face creams, powder, and sunscreen lotions, especially in economies like the U.S. and the U.K.
Also, skincare products are widely available, mainly containing active ingredients that aid healing and nurturing the skin, enhancing market growth.
The hair care segment is projected to expand at a compound annual growth rate (CAGR) of 3.9% during the forecast period. A significant market propeller in this segment is the growing popularity of hair dying among social media platforms.
Furthermore, demand for hair cosmetic solutions for hair fall and scalp-related problems among buyers will boost market expansion beyond the forecast period.
Distribution channel insight
In terms of distribution channels, the market is segmented into offline and online channels, with offline taking the lead, accounting for more than 66.2% of the market share in 2022. The key driver of the market is consumers’ strong inclination towards brick-and-mortar retail establishments such as department stores, salons, and spas and their ease of accessibility.
Nevertheless, the online segment is anticipated to grow with a CAGR of 3.7% from 2023-2030. Thanks to the expansion of the e-commerce sector worldwide, as well as the increased usage of smartphones, e-commerce apps, and websites, are growing more popular across the globe, which is propelling market growth.
Based on the end-user, the industry is grouped into men and women. Unsurprisingly, the women segment had the highest market share, with over 62% of the total revenue in 2022.
Women are often the primary consumers of skincare, makeup, and hair products, and they spend more money on cosmetics than men, which explains their segment domination.
However, the male segment is anticipated to grow at a significant rate of 4.6% over the forecast period. This results from increased male awareness of skincare, haircare, and fragrance products.
Additionally, celebrity endorsement promotes the use of more cosmetic products among men, thus providing opportunities for segment expansion.
Asia Pacific dominated the market in 2022 with nearly 44% of the total market revenue share. Main market boosters are the increasing consumer expenditure on cosmetic products and endorsement of elevated brands by celebrities.
Moreover, emerging countries like India and China are experiencing an increase in per capita income, thus improving spendable income and creating substantial potential for the market to flourish.
North America is expected to witness a CAGR of 4.5% during the forecast period. This is attributed to factors such as better product branding, growing skincare awareness, advancements in eco-friendly products, and creative advertising methods in the region.
Unfortunately, the rising public awareness of the adverse effects of synthetic cosmetic products threatens to hamper market growth.
In Europe, well-established offline retail cosmetic stores are expected to drive market growth due to easy access to cosmetic products.
4 key Ath-beauty product trends for sellers in 2024
Businesses can design products centered on improving their buyers’ athletic performance. This can be through pre-workout supplements, protective skincare, performance metric monitors, and substance-infused workout wear that nourishes the skin while exercising.
This category includes supplements containing beta-hydroxy-beta-methyl butyrate (HMB) or branched-chain amino acids, protein powders, sweat-resistant makeup, sunscreen, anti-chafing balms, smartwatches, fitness trackers, and heart rate monitors.
Upgraded post-workout routines
These products aim at providing fitness-oriented customers with holistic solutions that adequately meet their beauty and wellness needs. Skintentional products with multi-functional applications that do more with less have high chances of being profitable.
These may include post-workout facial mists, serums, and masks for skin nourishment and soothing, which helps reduce redness and calm irritation caused by sweat and grime.
Furthermore, brands can offer body care and fragrances for consumers who often sweat in addition to non-sticky deodorant, showerless shampoo (or dry bathing hair solutions), and scalp blotting papers for a seamless transition into customers’ regular everyday routines.
Notably, products in mist and spritz formats are top-rated thanks to their high portability and easy usage. Hence, businesses can leverage this critical factor for sales expansion.
Muscle recovery post-workout is an essential part of movement and fitness. The next-gen recovery trend focuses on facilitating self-care with timely pain relief and muscle care products.
These products include bath salts and cooling gels to relieve achy muscles. In addition, self-massage products such as foam rollers and massage balls help to target trigger points by releasing muscle tension and improving blood flow and circulation.
Businesses may incorporate aromatherapy into recovery and massage solutions by offering essential oils like lavender, peppermint, eucalyptus, and Epsom salts that promote consumer relaxation. Other products like sauna blankets and scented candles also help create a relaxing environment to improve rest and recovery and promote overall wellness and self-care.
Brands can offer body-part-specific products that cater to issues such as sweating and chaffing, as they are highly profitable. Producing affordable workout clothing for consumers with low income without compromising quality will also go a long way in making Ath-beauty products more accessible, friendly, and suitable for sale.
These apparel should be sold in different sizes to accommodate a broader customer base.
Furthermore, consumers are leaning towards natural and organic products that are both beneficial for their skin and eco-friendly, which will boost sales in 2024.
Multi-purpose products, for instance, a tinted moisturizer with SPF, which doubles as a lightweight foundation and sunscreen, are also good for the market.
Sellers should include all moving consumers, whether regular gym visitors or low-impact walkers. In addition, partnering with social media influencers and content creators can help to shed more light on underserved communities for greater inclusivity.
The Ath-Beauty industry is continually growing. Thus businesses have a unique opportunity to tap into these rising trends and offer the best products to their customers. From performance-enhancing solutions to next-gen recovery products, there is a wide array of products for sellers to leverage on.
As the beauty market is ever-evolving and highly competitive, brands must stay updated with the latest trends and insights and attune to the needs of their customers to thrive.