Business is booming in the cosmetics and beauty sector, but a busier marketplace can make it harder for new brands to stand out. For this year’s International Beauty Day on 9 September, Natasha Walker discusses what businesses should consider when deciding to secure a bold and beautiful trade mark for their brand.
Described by Statista as a “powerhouse of growth and innovation”, the global beauty industry is a haven of opportunity for start-ups and new brands.
Indeed, aside from a dip in 2020, the global cosmetics market has experienced “almost incessant growth” since 2004, with Statista forecasting that it will generate nearly $140bn by 2030.
The UK is no exception. Current estimates place the number of beauty technology start-ups in the UK at 1,660, with an average of 107 launched every year for the past decade.
Such an exceptionally busy marketplace, however, also comes with challenges for start-up brands looking to make their mark.
It is no exaggeration to say that branding is everything in the cosmetics and beauty sector. Adopting a strong trade mark and securing protection for it early is, therefore, very important.