NIQ, World Data Lab, and SPATE launch “Beauty Futures” Report - A guide to generational journeys of global beauty buyers

경제뉴스
2024-12-12 15:35 PM
(이코노미아울렛-뉴스)

NielsenIQ (NIQ) collaborated with World Data Lab and SPATE to release a comprehensive generational report purely focused on the beauty market in the next decade.

The report reveals key insights into generational preferences, spending habits, values, priorities, motivators, shopping behaviors, and their influence on global beauty trends. It highlights the crucial role each generation will play in shaping consumer preferences and spending over the next decade.

Millennials will be at the helm of this trend by driving nearly half of global beauty spend at US$ 193 Billion with Gen Z coming a close second at US$ 158 Billion. The global beauty industry is seeing unprecedented growth at US$ 1.1 Trillion, with a projected growth of US$ 700 Billion by 2034, of which Asia will be contributing US$ 310 Billion.

Commenting on the findings, Claire Marty, Vice President, NIQ Beauty, said “At NIQ, we recognize that understanding generational differences is key to navigating the evolving beauty industry. This is an opportunity for companies to move beyond “one size fits all” approach and tailor their strategies for each generation. Our consumer trends and sales data will help beauty brands uncover unmet needs, understand consumer values, and navigate the retail landscape.”

Top beauty takeaways across generations:

Millennials to dominate the beauty industry in the next decade:

· Millennials, born between 1977 - 1995 will be leading global beauty market growth in the next 10 years and will surpass Gen X as the dominant force in beauty spending in 2034, representing 24% of spending globally.
· Millennial spending growth on skin and hair care in 2024 outpaces the total market in both the United States and rest of world. More than half of millennials (56%) think about their looks most of the time and are most likely to use natural ingredients or food products as substitutes in their beauty routine.
· Millennials spending on beauty services will grow the most by 2034. Europe is leading this trend with 57% of millennials in Europe spending their beauty budgets on beauty services, and only 6% on make-up, in comparison to millennials in North America where makeup represents 11% of spending.
· Millennials are influenced by TikTok trends with #makeupover30 being the top TikTok hashtag, growing at 194.9% YoY to reflect the search for tips and products specific to their age concerns and needs. As an example, TikTok searches put the spotlight on an increasing interest in Beef Tallow usage for skin care routines with 14.1M avg weekly views.

Gen X are the biggest beauty spenders:

· Gen X, born between 1965-1980 is the most valuable generation to beauty spending in 2024 until 2034, growing spend by $150B in the next 10 years. North America and Asia Pacific will drive over half of Gen X growth with China’s middle class and India’s wealthy as key contributors.
· Gen X are heavily engaged across beauty - with higher penetration than the total population in 80% of beauty categories analyzed. Skin care as a category will see the fastest growth in the next 10 years - growing at 4.9% YoY ($26.8B).
· Convenience comes first as Gen X’s channel choice, and they are likely to shop in all-in-one locations like Amazon and Hypermarkets.
· Gen X’s TikTok views on makeup has grown to 53% with #over40makeup becoming a popular hashtag (6.9 M views) in 2024. Products such as the Guide Beauty Wand for consumers who deal with shaky hands are seeing traction among some Gen X creators on TikTok.

“We project that for the first time ever the global beauty sector is now exceeding US$ 1 trillion,” said Wolfgang Fengler, CEO of World Data Lab, “which is a testimony to consumers of all ages and all countries’ desire to use cosmetics and beauty services.”

“Understanding digital trends on platforms like TikTok and Google Search is essential for brands to stay ahead, as it reveals real-time shifts in consumer interests and needs across generations,” said Yarden Horwitz, Co-founder, SPATE.

With Millennials and Gen Z prioritizing health and the environment, they are looking at different aspects of sustainability in beauty products. Millennials are likely to choose a product or service because of its low or zero impact on the environment (+3.2 pts), while Gen Z purchases a product that values social equality or supports communities at risk or minorities (+1.2 pts).

The Beauty Futures report - a guide to generational journey of global beauty buyers, is NIQ’s flagship report providing a comprehensive view of global beauty consumers. The report covers:

- Projections for the next 10 years of the global beauty industry.
- Key drivers of purchase behavior for all generations.
- Emerging beauty trends from Google and TikTok.

If you want a copy, please click here.

About NIQ

NielsenIQ (NIQ) is the world’s leading consumer intelligence company, delivering the most complete understanding of consumer buying behavior and revealing new pathways to growth. NIQ combined with GfK in 2023, bringing together the two industry leaders with unparalleled global reach. Today NIQ has operations in more than 95 countries covering 97% of GDP. With a holistic retail read and the most comprehensive consumer insights—delivered with advanced analytics through state-of-the-art platforms—NIQ delivers the Full ViewTM.

About World Data Lab

World Data Lab creates forward looking proprietary data to quantify and forecast consumer trends, consumer spending, demographic shifts and progress towards the SDGs up to 2034. Our advanced data science approach, which has been peer-reviewed and published in Nature, delivers unrivalled accuracy, freshness and consistency across all demographic groups in 180 countries and more than 6,000 cities.

About SPATE

Spate is an AI-powered market research platform that analyzes over 20 billion search signals and 60 million TikTok videos worldwide, offering brands insights into the evolving landscape of consumer trends. Through Spate's data, brands will better understand the fast-paced world of beauty with key notable age-related shifts, such as the growing interest in mature skin makeup across Google Search and TikTok.

Disclaimer: All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241209875192/en/

Website: https://nielseniq.com/global/en/

... More

함께 보면 좋은 콘텐츠

All posts
경제뉴스 2024-08-16 09:30 AM

브라이트코브, 제7회 연례 마테크 브레이크스루 어워드에서 ‘최고 종합 비디오 마케팅 기업’ 선정

(이코노미아울렛-뉴스)세계에서 가장 신뢰받는 스트리밍 기술 회사인 브라이트코브(Brightcove)(나스닥: BCOV)가 마테크 브레이크스루(MarTech Breakthrough)가 주관하는 제7회 마테크 브레이크스루 어워드 프로그램에서 ‘최고 종합 비디오 마케팅 기업(Best Overall Video Marketing Company)’ 상의 수상자로 선정되었다. ...

경제뉴스 2024-07-26 10:45 AM

NIQ, 2023년 환경·사회·거버넌스 진행 보고서 발표

(이코노미아울렛-뉴스)세계 일류 소비자 인텔리전스 회사인 닐슨IQ(NielsenIQ, 이하 NIQ)가 두 번째 환경·사회·지배구조(ESG) 진행 보고서(Environmental, Social and Governance (ESG) Progress Report)를 공개했다. 이 보고서는 회사의 ESG 우선순위, 포용적이고 지속 가능한 원칙을 비즈니스 모델에 체화시키는 방법, 고객에...

경제뉴스 2024-07-17 06:00 AM

산업부-KOTRA, 중동부 유럽 K-방산 수출 판로 넓힌다

(이코노미아울렛-뉴스)산업통상자원부(장관 안덕근)와 KOTRA(사장 유정열)는 K-방산의 중동부 유럽 수출 확대를 위해 10월 16일부터 사흘간 체코 프라하에서 열리는 ‘체코 방산보안 전시회(Future Forces)’에서 홍보관을 운영한다. 참가를 희망하는 기업은 7월 24일까지 KOTRA 홈페이지(www.kotra.or.kr)를 통해 신청...

경제뉴스 2024-06-27 15:10 PM

제주도, 사회적경제기업 사회성과 측정 및 보상사업에 관한 조례 제정

(이코노미아울렛-뉴스)2024년 6월 26일 제주특별자치도의회에서 ‘제주특별자치도 사회적경제기업 사회성과 측정 및 보상사업에 관한 조례안’이 제428회 정례회 본회의에서 통과됐다. 이 조례는 지난해 제주특별자치도와 SK수펙스추구협의회 SV위원회가 맺은 협력사업을 법제화로 연결한 결과이다. ...

경제뉴스 2024-08-16 16:00 PM

커리어넷, 경기도·공영홈쇼핑·한국과학기술기획평가원·한국사회보장정보원·하남도시공사·정보통신산업진흥원·강남대학교 채용 소식 발표

(이코노미아울렛-뉴스)취업 포털 커리어가 경기도, 공영홈쇼핑, 한국과학기술기획평가원, 한국사회보장정보원, 하남도시공사, 정보통신산업진흥원, 강남대학교 채용 소식을 16일 발표했다. 커리어넷이 발표한 채용 공고 ...

경제뉴스 2024-07-02 11:00 AM

산업부-KOTRA, 2024 세계일류상품·생산기업 모집

(이코노미아울렛-뉴스)산업통상자원부(장관 안덕근, 이하 산업부)와 KOTRA (사장 유정열)는 국내 우수한 상품의 세계시장 점유율을 확대하고, 국내기업이 글로벌 브랜드로 성장할 수 있도록 지원하는 2024년도 세계일류상품 신규 모집을 시작한다. 세계일류상품 육성사업은 2001년 시작한 이래, 국내 ...

경제뉴스 2024-07-10 09:00 AM

일본 취업 플랫폼 KOREC, 한국산업인력공단과 협력해 26일 ‘KOREC CAREER EXPO’ 개최

(이코노미아울렛-뉴스)비웰코리아(Bwell KOREA, 대표이사 사장 가스가이 모에)가 운영하는 일본 취업 전문 기관 KOREC이 오는 7월 26일(10:00~17:00) 밀리오레 호텔 서울 명동에서 한국산업인력공단과 협력해 개최하는 취업박람회인 KOREC CAREER EXPO를 진행한다고 밝혔다. ...

경제뉴스 2024-07-18 11:55 AM

2분기 ISG Index™, 아태 지역의 강력한 관리형 서비스 수요에 힘입어 IT 및 비즈니스 서비스 시장 강세

(이코노미아울렛-뉴스)선도적인 글로벌 기술 연구 및 자문 회사인 인포메이션 서비스 그룹(ISG)(나스닥: III)의 최신 산업 현황 보고서에 따르면 관리형 서비스 수요가 다시 증가하면서 아시아 태평양 지역의 IT 및 비즈니스 서비스 지출이 2년 만에 처음으로 미화 50억달러를 넘어선 것으로 나타났다. ...

경제뉴스 2024-08-12 09:00 AM

제13회 한진 물류산업 현장방문 참가기업 모집

(이코노미아울렛-뉴스)인천창조경제혁신센터(이하 인천센터)는 파트너 대기업인 (주)한진과의 대표적인 협업사업으로, ‘2024년 (주)한진 물류산업 현장방문’을 위한 우수한 물류 분야의 참가기업을 모집한다고 12일 밝혔다. 제...

경제뉴스 2024-07-31 17:20 PM

‘제77회 세계여론조사학회 학술대회’ 성황리에 마무리

(이코노미아울렛-뉴스)지난 7월 27일부터 31일까지 총 나흘간 서울 성균관대에서 진행됐던 제77회 세계여론조사학회(WAPOR, World Association for Public Opinion Research) 및 제7회 세계여론조사학회 아시아 퍼시픽(WAPOR Asia Pacific) 연례 학술대회가 성황리에 마무리됐다. ...

경제뉴스 2024-07-24 14:50 PM

DCO Calls for Urgent Discussions with Member States, Digital Experts to Address Recent Global IT Outage’s Implications

(이코노미아울렛-뉴스)The Digital Cooperation Organization’s (DCO) General Secretariat said in a statement that it will hold urgent discussions with its Member States and digital economy experts to address the implications of the global IT outage that disrupted vital operations around the world, affecting critical business sectors like aviation, banking, broadcast media, software provide...

경제뉴스 2024-07-18 08:00 AM

비즈플레이, 국내 최초 ‘올인원 bzp출장관리’ 웨비나 성료

(이코노미아울렛-뉴스)Expense 비용관리 Total 솔루션 비즈플레이(대표 김홍기)가 ‘올인원 bzp출장관리’ 웨비나를 성료했다고 18일 밝혔다. 지난 10일 비즈플레이 유튜브에서 진행된 비즈플레이 ‘올인원 bzp출장관리’ 웨비나 포...

Top