The recession could be over by the fourth quarter, but many industries will be left to dig out from the wreckage of the economic downturn—not so, in the wellness market. Industry experts insist that this segment, which we’ve dubbed beauty from the inside and out, has become a part of every company’s growth strategy, which is why it has weathered the recession rather nicely. For example, sales of beauty supplements surged more than 40% last year in the U.S. to $80 million. That’s heady growth anytime in the economic cycle, let alone during a recession!
The merging of beauty and nutrition began decades ago when cosmetics companies took a page from their food brethren and started adding antioxidants to their formulas as a way to stabilize products. Today, antioxidants play an important role in maintaining skin health and represent just one segment of this healthy market that is ready to surge as nutrition and beauty converge.
Of course, there are bumps on the road to growth. Like any new category, beauty from the inside and out is expected to go through its share of growing pains—witness the withdrawal of Danone’s Essensis beauty yogurt in February—but with consumer interest in beauty supplements surging and converging with the natural movement, the market’s momentum is too strong to be sidetracked by recession.
Another roadblock is consumer skepticism. Folks just don’t believe that beauty foods do all that they promise. How can marketers overcome this distrust? By relying on their R&D staff to develop sound data, rather than expecting marketing departments to come up with a half-baked, consumer-friendly story to move products off the shelf. In the long run, science will win out over the hype—and that’s where Beauty I&O comes in. If you’re looking for articles to support your new concepts or trying to find a supplier with an effective ingredient, take some time to read articles in this edition of Beauty I&O, beauty from the inside-out. It’s filled with information to get your project up and running successfully—no matter what’s happening in the global economy.