Even women as far back as those who lived during the ancient Greek and Roman empires were known to use various substances to whiten their skin as well as kohl to line their eyes. It seems that women have always been in search of ways to enhance their beauty and cosmetics today are big business. By 2016, the cosmetics industry is expected to reach 62.46 billion dollars in the U.S. alone.
Although several of the top 10 largest food, soap, and cleaning product manufacturers continue to dominate the field of products that are used or consumed daily, also referred to as FMCG, an acronym for fast-moving consumer goods, the cosmetics industry as a whole has plenty of room for new players and start-ups. The rapid growth of edgy cosmetics companies like Hard Candy and Urban Decay make them ripe for purchase by bigger companies, such as the purchase of both of those brands by luxury goods maker LVMH, parent company of Louis Vuitton. Make-up, shampoos and soap products, perfume, even cosmetic surgery—the list of products and ways both men and women strive to enhance themselves is a long one.
Trending now are ways to create beauty from within through various nutritional supplements. The once disparate industries of nutrition (think: vitamins and supplements) and cosmetics now overlap to such a degree that a new industry name has been coined: nutricosmetic. A spafinder.com post notes that analysts predict this new market to reach a value of $5.5 billion by 2018, with over 90% of it being led by China and Japan. So-called “drip bars” are even popping up on both U.S. coasts, promising relief for everything from hangovers to the common cold via an IV drip with customizable formulas.
Alas, what goes up must surely come down, and the cosmetics industry is not immune to this phenomenon as evidenced by the trending hashtag #nomakeupselfie. It has been used as a response to cyberbullying, a way to raise funds for cancer research, and of course, a way for stars like Beyonce, Sophia Vergara, and Gwyneth Paltrow to post social media pictures of themselves sans make-up (and allegedly filters); but personally, I don’t think it has the power to make much of a dent in the continued growth of the cosmetics industry.