Multicultural consumers to shape global beauty market

Distinctive consumer segments are shaping a new beauty agenda worldwide, according to a new report from market research firm Diagonal Reports, which adds that these small groups can punch far above their weight due to their use of social media and the internet.

Online communications have allowed large numbers of people to link “up and in”, according to the company. Dissatisfied “searchers and seekers” can now exchange information about problems and solutions, and social media has not only magnified the power and reach of these disparate groups but also multiplied their numbers.

"Ethnic/multicultural consumers will shortly become the majority in the world’s biggest beauty market: the US,” added Diagonal Reports. “In addition, the beauty industry is relying on the emerging consuming classes in Asia, Latin America and Africa to be the new drivers of market growth. Critically, it is both sets of these consumers which express the most concern about ingredients.”