What are the innovative cosmetics selected by Mintel?
The K Beauty Science Inc.
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Mintel, a global trend research company, selected and announced ‘Mintel’s Most Innovative (MMI)’. The MMI, which was held for the first time this year, is an innovation award selected by Mintel analysts in various consumer goods categories targeting new global products. ?From cutting-edge technologies to sustainable solutions, MMI aims to shape the future of consumer-packaged goods and creativity by redefining the possibilities of beauty and household products. Mintel's global experts will also introduce best practices for the most innovative beauty, personal care, and household products.
Looking at the beauty and personal care products (9 categories) selected for ‘2024 MMI’ by country, there were 4 in the US, 2 in the UK, and 1 each in Korea, China, and Japan. The Korean product selected for ‘2024 MMI’ is General Brands’ ‘NoLie Under Calm After Waxing Patch’. Sarah Jindal, Senior Director of Beauty and Personal Care at Mintel, explains why she was attracted to this new food innovation: “This product represents the intersection of personal care and self-care, highlighting the importance of women’s wellness and sexual health. As meaningful conversations about this topic begin, the path is paved for the launch of innovative brands and products that combine convenience and effectiveness.”
The overseas beauty product that received attention at the 2024 MMI was Izzy's 'Zero Waste Dew-Bomb Glow Hydra Milk'. It was selected as an example of product positioning that achieved notable innovation in the facial skin care field. Commenting on why this product was selected, Roshida Khanom, European Director, Beauty and Personal Care Insights, said: “Izzy Beauty differentiates itself by paying close attention to each stage of the product life cycle. “By recycling the water from our patent-pending antibacterial cleansing process, it is a truly zero-waste product, and it also contains trendy skincare ingredients such as hyaluronic acid and argan oil.”
To select MMI, Mintel established criteria in 13 categories (9 beauty and personal care products, 4 household goods). The product must have been released in 2023 and, unless it is a limited edition or seasonal product, must be available at the time of announcement in March 2024. The judging panel was comprised of directors of each category at Mintel Research and evaluation for innovation was based on criteria such as relevance, originality, and potential to cause a sensation in the category.
“Successful companies place innovation at the core of every strategy,” said Marla Common, Senior Vice President, Insights and Global Consumer Products and Beauty at Mintel. “At Mintel, we’re gaining insight into what’s hitting, what’s failing, and how consumers are reacting, so we can make better decisions to drive our innovation pipeline.”
She continued, "At Mintel, we have launched 'Mintel Leap', a groundbreaking AI solution that provides instant answers to brands' most complex questions, and 'Mintel GNPD', a global database that provides 40,000 new products every month in 86 major countries around the world. That's why Mintel's insights are available through MMI, which carefully selects products that have made visible progress in creativity, corporate development, and disruptive innovation.”
?Link to Mintel’s ‘Innovation in Beauty, Personal Care and Household Product Awards (Mintel’s Most Innovative, MMI)’ https://kr.mintel.com/innovation-in-beauty-personal-care-household/
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Mintel’s ‘Mintel’s Most Innovative MMI)’ link https://kr.mintel.com/innovation-in-food-drink/
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