The health and wellbeing category is experiencing a dynamic evolution, particularly with the increasing convergence of beauty and wellness in recent years. Consumers are becoming more knowledgeable and selective in their choices, opting for products and practices that enhance their overall wellbeing. Consequently, they are seeking brands that align with their lifestyles and champion a holistic approach to beauty and wellness.
Wellness, in the context of beauty, refers to a holistic approach to self care and personal grooming that goes beyond simply enhancing one’s physical appearance. It encompasses practices and products that promote overall wellbeing, both internally and externally. This includes focusing on skin care routines that nourish and protect the skin, using clean and natural ingredients, adopting a healthy lifestyle, and prioritizing mental and emotional balance.
Notably, brands that have a growing market share in the beauty and wellness space are those that focus on addressing consumer concerns such as hair thinning, hair loss, and hair growth. Here, we highlight three such brands:
Nutrafol specializes in addressing the common issues of thinning hair and has established itself with its hero product Nutraceuticals. It now offers a range of clinically tested products, including supplements and scalp products, to help consumers build a hair care routine with its products. According to our Kline PRO data, Nutrafol has penetrated salons by selling the Growth Activator hair serum for all genders, which in turn is generating the bulk of the company’s revenue in the channel. Earlier this year, Nutrafol also launched in select Sephora stores in the United States.
Hair Growth Nutraceutical and Hair Serum by Nutrafol
Briogeo is a natural hair care brand that targets consumers based on their hair type. In late 2022, the brand unveiled a hair care system designed to enhance hair density and stimulate growth. This line consists of shampoo, conditioner, hair serum, and supplements—all aimed at fortifying hair follicles for healthier, stronger, and thicker hair.
Destined for Density Line by Briogeo
Hims & Hers Health, a direct-to-consumer brand founded in 2018, specializes in selling affordable, FDA-approved medical-grade products such as birth control, hair loss, acne, and melasma. The brand has now broadened its offerings to include personalized products for the hair and skin, supplements, as well as mental and sexual wellness. This approach allows consumers to shop for products that fit their needs based on desired product type: gummies, shampoo, conditioner, scrub, hair masks, sprays, and more. In 2021, the company made a substantial leap with an IPO valued at $1.6 billion. Following this success, in 2022, the brand achieved revenues of $527 million.
The Complete Hair Care Kit by Hims & Hers Health
Each consumer may have a unique routine to address their specific needs and goals. Therefore, brands that develop product lines tailored to assist consumers in their personalized routines are poised for success among those who seek to enhance their overall wellbeing.
To better capitalize on opportunities in the beauty and wellbeing space, refer to our consulting services, which can help your brand win or enter the market by conducting comprehensive analysis, assessing the competitive landscape, and understanding consumers’ perceptions. To learn more about our project work and capabilities, schedule a complimentary discovery call with an industry expert.