The article was published amid a compelling sales performance for prestige beauty, which market research firm Circana estimates grew 14% to reach $31.7 billion in 2023. By contrast, mass beauty sales grew 6%. Circana forecasts continued growth for prestige beauty. In a Beauty Independent In Conversation webinar last year, Jennifer Famiano, director and beauty industry analyst at Circana, said, “The bottom line is that beauty is a really strong industry with a consumer that finds value in what we add to their lives.”

We were curious whether beauty industry insiders believe prestige beauty is hitting a peak. So, for the latest edition of our ongoing series posing questions relevant to indie beauty, we asked 20 beauty industry consultants, investors and founders the following questions: Do you think prestige beauty may be at its peak? What challenges do you see facing prestige beauty brands, and what opportunities could they take advantage of in the current market?