After a slowdown in new product development (NPD) in 2023, the beauty and personal care industry saw a modest recovery in 2024. New product launches across online retailers increased by 4%, according to Euromonitor’s Innovation platform. This rebound reflects renewed brand activity in response to evolving consumer demands. As beauty consumers become more budget-conscious, they are seeking smarter, value-driven purchases, favouring brands that offer quality and clinical efficacy at accessible prices.
Among the categories with the highest number of new launches in 2024, sun care and body wash/shower gel stood out, both achieving strong launch volumes and double-digit growth during 2023-2024. However, not all products maintained shelf presence. While body wash/shower gel saw high innovation activity, it also faced the highest attrition, with 27% of 2023-2024 launches disappearing from online retailers by the end of 2024. In contrast, sun care demonstrated the strongest staying power, with only 19% of new products vanishing during the same period.
As competition intensifies in body wash/shower gel, tracking which innovations gain traction, and which fade, offers vital insights for refining NPD strategies. Product development in this category is increasingly shaped by the skinification trend, with new launches featuring skin care-inspired active ingredients and natural formulations, reflecting rising demand for health-driven outcomes in personal care. Body wash/shower gel is also evolving into a self-care essential, with brands emphasising mood-enhancing scents, aromatherapy benefits, and soothing textures.
Euromonitor’s Innovation solution helps to quickly discover new product launches online and track which succeed and which fail. Contact us here to learn more on the latest innovations across FMCG categories.