What will consumers want in the coming years? What will be the next darling ingredient on the market? What colour will not leave people’s minds, mouths or eyes? These are some of the questions asked daily at Alkos Group, which sees the prediction of trends as one of its biggest challenges.
There is one trend, however, that is no longer a secret for either Alkos or any other company in the cosmetics industry: the growing and uninterrupted interest of consumers in vegan products.
Driven by millennials (26% of them already identify as vegan), the global market value of vegan cosmetics is expected to reach US$20.8bn by 2025.