Global beauty and personal care revenue projections expected to surpass $670 billion in 2026 (retail nominal value terms), according to Euromonitor International, and industry stakeholders are keen to understand key growth drivers, including the consumer shift toward holistic wellness, prompting brands to explore beyond traditional offerings into longevity and other areas.
At last month’s INNOCOS Longevity Miami Summit & Awards, industry leaders convened to explore these evolving trends. CosmeticsDesign spoke with Irina Barbalova, Global Lead – Beauty and Wellness at Euromonitor International, to discuss the significant shifts redefining beauty and personal care and key takeaways from her session, “The Business of Wellness: Evolving Growth and Innovation Concepts.”
The rise of holistic wellness in beauty
Barbalova outlined how consumers increasingly view beauty as an extension of overall well-being, leading brands to innovate beyond traditional skin care and cosmetics. “With the lines between beauty and wellness increasingly blurred, business alignment continues to transcend traditional boundaries,” she noted, with innovations in diversified product offerings including “ingestibles, benefits related to sleep and mood, and the integration of neuroscience technology to enhance emotion-related functionality.”
She also noted that emotional attributes in beauty are becoming more prominent. According to Euromonitor International’s Via E-commerce tracking tool, “in 2023, products with a ‘stress relief’ claim represented over 10% of overall SKUs in skin care, and ‘mood-boosting’ claims are slowly permeating the fragrance category,” she shared.
The GLP-1 effect: Opportunities in beauty and wellness
Another key discussion point from Barbalova’s presentation focused on the surging popularity of GLP-1 drugs like Ozempic and how this area is creating new avenues for beauty and wellness brands. Treatments like Ozempic, Trulicity, and Victoza are “reshaping nutrition, metabolism, and physiological expressions,” she explained, “creating demand for companion products that address side effects like muscle loss, skin elasticity decline (‘Ozempic face’), and hair thinning.”
As a result, hair health has emerged as a top consumer priority, with”‘hair health,’ ‘scalp health,’ and ‘hair loss prevention’ among the top five most desired product features among global consumers,“ according to Euromonitor’s Voice of the Consumer Beauty Survey, she noted. In light of these findings, she continued, “We expect to see more brands targeting GLP-1 users with such orientations as part of their hair care offerings.”
Additionally, high-protein, collagen-boosting supplements, and hydration-focused beauty solutions are poised for growth. She clarified, “Protein is expected to be the fastest-growing category in supplements globally in the next five years,” as the category has already seen “heightened interest pre-GLP-1s.” However, Barbalova anticipated that the space “will see additional demand from associated concerns around muscle loss.”
Longevity science and beauty innovation
Barbalova also delved into how longevity-focused beauty is gaining momentum, with brands emphasizing scientific credibility. “Beauty brands must prioritize science-backed, cellular-level solutions,” she urged, “by incorporating NAD+ boosters, mitochondrial-supporting peptides, and senescence-targeting actives into formulations that promote longevity.”
According to Euromonitor’s data, she noted, “the number of online SKUs with NAD+ positioning has been tripling year-on-year since 2022, across both consumer health and beauty industries.” Therefore, as beauty becomes increasingly medicalized, “brands should emphasize clinically validated claims, dermatological partnerships, and biomarker-based efficacy testing.”
For example, she illustrated, “Integrating precision skin care diagnostics, like L’Oréal’s Cell BioPrint, will further position brands at the forefront of longevity-driven beauty.”
Addressing the gaps in women’s life-stage health
The women’s health market remains underserved, Barbalova highlighted in her discussion, despite growing consumer interest in menopause-friendly beauty and reproductive health solutions. “Nearly 60% of US female consumers are looking for new menopause-related solutions,” she revealed.
For example, “from 2021 to 2023, menopause-positioned SKUs in US consumer health products rose by 39%, while the UK led in new sub-brand launches with menopause-related attributes for skin moisturizers and treatments,” she shared.
Innovation in this space includes femtech partnerships and new ingredient formulations, as well as “curating and repositioning existing portfolios, or creating assistive platforms that foster education, virtual care, and community building,” she said. Hormonal monitoring and diagnostics technology could also “transform personalized care solutions while reinforcing needs and narrowing adoption gaps.”
Ultimately, she maintained that the evolution of women’s health innovation requires a holistic approach. “The innovation ecosystem must adopt a sex-based lens across all aspects of health needs, from inception to path-to-purchase, consumer engagement, and product marketing,” she emphasized.
Balancing science-led storytelling and medical advocacy
Finally, Barbalova noted that scientific credibility is paramount to consumer trust. “Brands need to combine credibility with accessibility, using clear, compelling narratives that translate complex science into everyday benefits,” she shared and advised that collaborations with medical professionals and biotech partners can enhance brand trust.
“Clinical trials, biomarker-backed claims, and AI-driven personalization [can] strengthen authenticity,” she said. For example, she illustrated, “educational platforms, interactive diagnostics, and expert-driven content—like Bayer’s Age Factor healthy aging ecosystem—can further build authority while keeping messaging engaging, empowering, and actionable.”
Business strategies for the future of beauty and wellness
As Barbalova concluded, the following are her key strategic actions beauty and wellness brands should take to meet evolving consumer expectations:
- Shift from anti-aging to proactive age management by investing in science and technology that targets the root causes of aging through causal biomarkers, imaging technology, and AI-driven analysis.
- Assess cross-industry adjacencies in ingredient formulations and product formats to address physical and psychological wellness needs.
- Build holistic ecosystems by expanding beyond standalone products into complementary services that enhance engagement, adoption, and loyalty.