2024 in review: Our take on private label cosmetics trends
The forecasted trends of 2024
There are several sources one can consult when it comes to industry forecasts. We picked Mintel which is a global market intelligence company that provides insights and analytics on consumer behavior, industry trends and product innovation across various sectors. Their research can help businesses understand market opportunities, forecast trends and make data-driven decisions to stay competitive.
Pretty much exactly one year ago, Mintel has forecasted several key beauty trends for 2024 that will - supposedly - shape the industry. Here are the top five:
- Sophisticated simplicity: Consumers are increasingly focused on efficacy and functionality rather than extravagant marketing or packaging. They prefer high-quality, minimalist beauty products that deliver proven results.
- Mind-skin connection: Beauty and wellness are becoming more intertwined as consumers seek products that not only enhance their physical appearance but also support mental well-being.
- Sustainability beyond carbon footprint: The demand for eco-conscious products is evolving. In 2024, brands are expected to go beyond basic sustainability claims and focus on regenerative practices that actively contribute to environmental recovery.
- Tech-infused personalization: AI and other technologies are transforming the beauty industry by providing hyper-personalized beauty solutions.
- Affordable innovation: The rise of "affordable luxury" continues to reshape the market, where consumers expect high-quality, innovative beauty products at accessible prices.
Did these trends translate into private label beauty and indie brands?
The 2024 beauty trends forecast underscored a shift in consumer expectations, focusing on transparency, personalization and sustainability. However, these trends were not just reshaping major beauty brands; they were and still are impacting the private label cosmetics sector and indie brands too.
Let's explore how these trends have translated in 2024 and assess whether they have truly become dominant forces within the sector?!
Sophisticated simplicity
Private label and smaller indie brands were particularly well-positioned to capitalize on the trend of simplified, results-driven beauty. The emphasis on minimalist, high-quality products aligns perfectly with the strengths of private label and indie brands, which often focus on offering affordable yet effective alternatives to high-end brands.
By stripping away the excess and concentrating on transparency, functionality and ingredient efficacy, private label and indie brands can appeal to consumers who are looking for straightforward, reliable beauty solutions without paying luxury prices.
Who does it well?
Junglück, a German brand launched in 2018 is a good example for this trend. The transparency with their ingredients and focus on providing effective, simple skincare products ties into the trend of sophisticated simplicity. They aim to deliver clear, results-driven products without unnecessary complexity, which resonates with the minimalist beauty movement and appeals to consumers seeking functional, high-quality essentials over an overwhelming variety of options.
Our take on it
Our experience at Mind the Beauty has mirrored this movement of sophisticated simplicity throughout the year. We've witnessed firsthand how brand building in 2024 has increasingly focused on clean, streamlined formulations, with transparency and efficacy at the forefront. Many of the brands we’ve worked with have embraced this ethos, stripping away excess to focus on delivering high-quality products that cater to a more discerning, minimalist consumer.
It's clear to us that this isn't just a fleeting trend—it’s a significant shift in the beauty landscape, one we believe will continue to evolve and deepen in the future. The demand for purposeful, straightforward beauty products reflects a broader consumer desire for substance over surface and we expect to see even more brands integrating this philosophy as we move forward.
Mind-skin connection
With the increasing focus on products that cater to both physical and emotional well-being, private label and indie brands can expand their offerings by incorporating neurocosmetics or skincare products that address stress and emotional wellness. This trend provides an opportunity for private labels and indie brands to create formulations that promote holistic wellness and cater to the growing demand for mental well-being through beauty products.
Who does it well?
Muihood, based in the UK, this brand incorporates traditional Chinese medicine into modern skincare, with a strong focus on holistic well-being. Founder Charlotte Yau created Muihood to celebrate Chinese rituals and promote mindfulness through skincare, particularly focusing on herbal medicine's calming and healing properties. Their product line includes items like the "Good Chi" cleansing balm, which is designed to promote both physical skin health and emotional balance, aligning perfectly with the mind-body wellness trend. Muihood is gaining attention for its focus on sisterhood, inclusivity and the deeper connection between self-care and mental well-being.
Our take on it
This is a complex one. We've seen that when a brand genuinely integrates this connection - where physical skincare aligns with mental and emotional well-being - into its core purpose, it has the potential to attract a dedicated and loyal community. But for these brands, it's not about selling products or being trendy. For them it is really about creating a holistic experience that resonates with consumers on a deeper, more personal level. Brands like Muihood, which incorporate mindfulness, emotional health and traditional Chinese medicine into their skincare, exemplify this well.
Their story is rooted in authenticity, celebrating rituals that promote both physical health and emotional balance.
We believe that in this space, community building is crucial. Consumers today are looking for more than just skincare - they seek products that contribute to their overall well-being and align with their values. When a brand's purpose is clear and authentic, it can create a meaningful relationship with its audience, fostering loyalty that goes beyond the product itself. However, we see that if this connection is approached solely as a trend, without a strong narrative or purpose behind it, it risks feeling superficial. The mind-skin connection is not just a marketing angle; it’s a philosophy that requires true intent and care.
Therefore, while this trend offers incredible opportunities for brands with authentic stories, we caution against chasing it simply because it's fashionable. Without purpose and love at its core, the connection between mind and skin won't resonate as deeply with consumers.
Sustainability beyond carbon footprint
Sustainability remains a top concern for consumers and private label and indie brands are no exception to this demand. They can take advantage of this trend by using eco-friendly materials, reducing waste and embracing sustainable sourcing practices. Many private label brands have already carved out niches by delivering affordable and environmentally responsible products, which makes this trend a natural fit for further growth in eco-conscious packaging and regenerative ingredient practices.
Who does it well?
Bybi Beauty is a leader in sustainability, going beyond basic eco-friendly claims. The brand focuses on using low-waste packaging, ethically sourced ingredients, and carbon-negative initiatives, aligning with the 2024 trend of regenerative practices. Bybi offers transparent sustainability efforts, including carbon offsetting and the use of upcycled ingredients, setting a high standard for eco-conscious beauty.
Our take on it
We recognize the complexity and importance of the „sustainability beyond carbon footprint“ trend. In today’s beauty industry, sustainability is not a one-size-fits-all solution and there are no universal regulations that dictate what sustainable packaging truly means. As such, each brand must interpret and approach sustainability in its own way, often leading to varied results and consumer confusion.
While brands and manufacturers are working tirelessly to find the best packaging solutions - be it glass, recycled plastic, paperboard, or compostable materials - there is still no definitive "best" option. Each material presents its own set of challenges, from the energy-intensive production of glass to the limited recycling infrastructure for certain plastics. This is why greenwashing has become such a critical issue in the industry, and we firmly believe that any brand should steer clear of superficial claims.
At Mind the Beauty, we encourage our clients to approach sustainability with intention, honesty and a willingness to improve continuously, rather than chasing trends for the sake of marketing appeal.
We have established a sustainable packaging think tank within our company, staying informed on the latest innovations, studies and trends. This allows us to guide our clients toward thoughtful, responsible packaging choices that are not only environmentally friendly but also in line with their brand story. We understand that sustainability is an ongoing journey rather than a fixed destination and we are here to help brands navigate that path with purpose and care.
Tech-infused personalization
Although tech-driven personalization has traditionally been seen in premium beauty brands, private label and indie brands are beginning to adopt these innovations as they become more accessible. Virtual try-ons, AI-driven skincare recommendations and personalized beauty products based on individual data (like skin type or climate) can help brands tap into the growing demand for customized beauty solutions at a fraction of the price. By leveraging affordable tech, private label and indie brands can offer the personalization consumers crave, setting themselves apart from standard, one-size-fits-all products.
Who does it well?
Function of Beauty is a pioneer in personalized haircare, utilizing AI and data analytics to create customized products based on individual skin and hair profiles. By leveraging technology, FOB offers personalized formulations, allowing consumers to receive products that cater to their unique conditions. This aligns well with the trend of tech-infused personalization, where consumers seek highly tailored beauty solutions.
Our take on it
While this trend holds incredible potential, we haven't yet seen it take off as predicted. The promise of personalized beauty solutions - tailored to individual skin types, preferences, and even DNA - is exciting, but the adoption has been slower than anticipated.
We believe there are a few reasons for this. First, accessibility and affordability of the technology remains a barrier. Advanced AI-driven systems and tools are often very expensive to implement, especially for smaller and independent beauty brands. Second, consumer readiness may be another factor. While the idea of highly personalized products sounds appealing, many consumers are still adapting to the role of technology in their beauty routines and some may have concerns about data privacy when it comes to personal skincare diagnostics.
That said, we remain optimistic about this movement. As AI becomes more affordable and consumer education around tech-driven beauty grows, we believe that tech-infused personalization has the potential to revolutionize the way we approach skincare and cosmetics.
Affordable innovation
The idea of "affordable luxury" resonates strongly with private label and indie brands, which are often known for offering premium-quality alternatives at lower prices. This trend encourages brands to continue innovating with high-quality formulations, cutting-edge ingredients and advanced beauty solutions, while maintaining an accessible price point. By delivering "luxury" experiences at better prices, private labels and indie brands can cater to consumers seeking value without sacrificing product performance.
Who does it well?
Uncorrupted Beauty exemplifies the affordable luxury trend by offering high-quality, innovative beauty products without the high-end price tag. The brand uses premium ingredients and advanced formulations while maintaining a commitment to accessible pricing. Their ethos focuses on delivering luxury beauty experiences - through refined textures and cutting-edge ingredients - at prices that appeal to cost-conscious consumers.
Our take on it
We have witnessed firsthand how the trend of „affordable innovation“ has truly resonated with consumers. The success of Uncorrupted Beauty, which now proudly belongs to our Mind the Beauty family, exemplifies this perfectly. This trend speaks to a clear shift in the beauty industry, where clients no longer believe that luxury has to come at a premium price. Uncorrupted Beauty’s purpose of providing high-quality ingredients at a fraction of the usual price resonates deeply with today's consumer, who is more informed and discerning than ever before.
We believe the trend is thriving because it strikes a good balance between accessibility and quality. Clients want products that deliver real results, but they don’t want to compromise their budgets to achieve them. Uncorrupted Beauty has stayed true to this purpose, offering premium formulations without the excessive mark-ups, which has garnered a loyal customer base that appreciates both the transparency and the effectiveness of the products.
Trends that were spot-on
Upon closer review, the 2024 beauty trends have significantly influenced both major brands and the private label and indie brands sector. „Sophisticated simplicity“ and "affordable innovation“ are thriving as consumers prioritize transparency and quality at accessible prices. Brands like Uncorrupted Beauty exemplify this, offering premium ingredients without the luxury price tag.
The „mind-skin connection“ is gaining momentum, while „sustainability beyond carbon footprint“ remains complex. Lastly, „tech-infused personalization“ holds potential but has yet to see widespread adoption. We are looking forward to exploring the trends for 2025 and remain committed to guiding brands along the way.