Eight fascinating BPC market opportunities

In honour of our 50th anniversary, Mintel’s leading experts have curated an exciting new ebook. The Fifty is your trusted guide, lifting the lid on 50 fascinating markets around the world where potential gains abound. The world is evolving and consumers are changing faster than ever before. We delved into our industry-leading data and identified markets around the world that we think you should know about. Here are just two examples of what The Fifty can help you discover.

Minimalist Skincare (US)

Nearly all facial skincare products experienced a boost in usage from 2021–22, contributing to overall market growth. However, some consumers, particularly younger adults, are favouring more streamlined beauty routines as almost one in four (22%) 18-24s believe multi-step routines are wasteful, leading some to reduce the number of products they use in their skincare routine.

Whether it’s to reduce their environmental footprint or simplify their routines, Mintel expects more consumers will abandon multi-step routines in favour of more simplistic approaches, sometimes referred to as ‘skinimalism’. A preference toward minimalism among certain, highly-engaged demographics signals a shift in the market, suggesting that more brands will unveil multi-benefit products. Focusing on ingredients that can multitask or releasing multi-functional products is a straightforward way for brands to engage with consumers looking to cut down on the number of products they use.

22% of US consumers ages 18-24 believe multi-step routines are wasteful.

 

Men’s BPC (Japan)

Masculinity is changing and today, it’s all about maintaining a clean and neat appearance: 45% of Japanese men agree that men care about their appearance just as much as women do. Meanwhile, 43% of men say it is acceptable for men to wear makeup products such as concealer. 

The market for men’s facial care is expanding globally due to clean beauty, inclusivity and self-care trends. Natural ingredients claims – an element of clean beauty – and makeup for men are some of the many opportunities in the Japanese market.

As acceptance of men’s skincare and colour cosmetics is increasing, brands have an opportunity to encourage male consumers to add new products to their daily beauty routines. Over the last year, the men’s cleanser segment grew faster than any other skincare sub-categories in the Japanese market, experiencing an 11% increase in market value in 2021, estimated to be JPY25 billion. While trying to increase penetration, brands can also encourage men to use more products by promoting an ‘all you need’ skincare and/or colour cosmetics bundle.

45% of Japanese men agree that men care about their appearance just as much as women do. 

 

That’s not all – the complete report also includes these seven BPC markets, along with dozens of other intriguing concepts that span the globe and industries, including:

Scalp Care (Thailand)

Hair Removal (Germany)

Customised Haircare (Brazil)

Bathing (India)

Natural Personal Care (Canada)

Oral Care (UK)

 

Uncover these opportunities and more by downloading the free e-book now.