2020 has a lot in store for the self-care industry, particularly where personal care is concerned. Consumers are more interested than ever in what they are putting on their skin, where it comes from, and where it will end up. If you are already involved in the booming self-care industry or thinking about entering, you would be wise to take note of the huge changes expected to take hold concerning where and on what consumers will choose to spend their dollars.
The self-care industry has become a vast $450 billion market, spanning several categories. Revenue in the personal care segment is expected to amount to a $23 million chunk of that pie in 2020, with an annual growth rate through 2024 of three percent. Self-care is any activity that promotes the wellness of the mind and body, while personal care focuses on the betterment of one’s physical well–being and is considered a subsection of self-care.
Clean and Green
As consumer awareness of cosmetic ingredients increases, the personal care industry is slowly but surely shifting to non-toxic, cruelty-free and all-natural formulations to meet the increasing demand for clean beauty.
New clean–beauty brands are emerging left and right, but what’s even more noticeable is how existing brands are shifting current formulations to satisfy consumer expectations.
Recent sales of organic products in the United States reached $1.5 billion, and due to the increased focus on personal care in the self-care industry, revenues are expected to skyrocket to nearly $25 billion by 2025 globally.
Another trend we’re seeing is the increase in gluten-free products. Gluten–free has been a buzzword in the food industry for the past several years. Gluten is a group of proteins found in certain grains, such as wheat, rye, and barley. Although gluten is safe for most people, those with conditions like celiac disease or gluten sensitivity should avoid it to prevent adverse health effects.
The concept of gluten-free is now becoming increasingly popular in the self-care industry in terms of personal care products. How popular? Instagram, a barometer of all things trending, reveals more than 17,000 posts tagged with #glutenfreeskincare.
Cruelty-free and 100-percent-vegan claims are also increasingly common within the self-care industry — and an expected standard for consumers. In fact, a recent study reveals 62 percent of consumers now buy vegan beauty products despite not following a vegan lifestyle, and 49 percent cited wanting to do something for the environment as the reason for choosing brands that offer vegan products.
By definition, ethical consumerism is all about choosing goods that are ethically sourced, ethically made and ethically distributed. Consumers are increasingly seeking out brands whose values align with their own. Ninety percent of consumers believe companies and brands have a responsibility to take care of the planet and its people according to Wunderman Thompson Intelligence.
Consumers are increasingly concerned about the state of the planet and realize that simply recycling might not be enough. There is a movement among smart brands toward refillable, reusable, and biodegradable, and just using less material in general to produce less waste.
Interestingly, Uni K Wax is not only a pioneer in the body waxing industry, but the franchise also meets all the expectations of today’s consumer and has been ahead of the curve of the clean, natural product movement. Led by visionary founder Noemi Grupenmager, Uni K Wax Studio implements all the practices mentioned above and has done so since she opened the first unisex waxing studio in 1993.
Grupenmager spent years engineering and perfecting the proprietary all-natural, paraben and gluten-free wax only available in every Uni K Wax Studio. Created from a specific pine, the sap is ethically sourced — collected in “its most pure state,” which means the trunks of the trees are cut open and pulled back instead of being cut down. The trees look like they’re “crying or weeping” as their sap drips into bags below, but, like a minor cut on human skin, the trees heal.
The wax is also 100 percent biodegradable. Unlike most body waxing businesses, Uni K Wax Studios do not use strips of paper to remove the wax, further reducing waste.
If you are looking to partner with a trend starter in the ever–expanding self-care industry that meets and exceeds the expectations of today’s consumer, click here to learn more about the franchise opportunities that exist at Uni K Wax.