Beauty Enhancement: The In Vogue Function
Most of us wouldn’t mind a beauty boost, especially in the digital age where we are our own paparazzi and broadcast to our personal networks through pictures and videos on social media. The intrinsic desire to look our best has been profitable for the beauty industry, which multiple media outlets report is worth US$445 billion in global sales.
Products like face creams, hair styling serums, cosmetics and vitamins have been on the beauty scene for some time, but “beauty from within” is a new trend making waves in the industry. Consumers are looking to attain some of the same benefits such as clear, hydrated skin and luscious locks from edible products. Beauty beverages tout claims like “improves hair, skin and nails,” “reduces wrinkles,” “detox,” and “rejuvenate,” that are appealing to consumers who want to improve their daily appearance in an easy and convenient way.
Beauty beverages already are mainstream in Europe and Asia, and with so many functional beverage products entering the market I expect this category to grow in the United States as well. Although beauty beverages make up a small portion of the beauty industry, it’s still very profitable; Mordor Intelligence predicts the market will reach $1.3 billion globally by 2023 with an estimated compound annual growth rate (CAGR) of 11.8 percent.
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