6. The return of make-up

While the firm believes the colour cosmetics category is expected to bounce back, Henry noted that there will be significant changes to the category.

“The beauty routines have changed forever. And what that means is that makeup is probably going to split into two kinds of makeup: the classic make-up which is about expression and functional make-up.”​

He elaborated: “Now that people are more focused on taking care of themselves, there will be more make-up products with active ingredients that will bring skin benefits. We’ve seen this with BB creams from Korea, it’s not new, it’s just increasing drastically.”​

With more active ingredients in make-up, packaging solutions for skin care will now apply to make-up as well, Henry concluded.

“This brings us back to the need to have airless packaging to protect formulas from oxidation. The need for the right application system because what you’re looking at is really the functionality of the product.”​