2025 CEW Visionary Awards: Honoring Innovative Beauty Founders

The health and beauty industry continues to see enduring demand despite macroeconomic uncertainty and a shifting tariff landscape. While consumers are spending more thoughtfully and the price-value equation has gained importance in product selection, we expect a wide range of product categories to be resilient.

According to Circana, the combined U.S. beauty and wellness market grew 5% in 2024 to reach $225 billion, which encompasses beauty (e.g., makeup and hair care), personal care (e.g., deodorants and soaps), and wellness products (e.g., vitamins and supplements, weight control, and women’s health).¹ Building on the self-care trend that emerged during the pandemic, consumers are taking a more holistic view of beauty and personal care and seeking products that enhance their physical and mental well-being.

“We see this as a long-term tailwind for the industry, contributing to healthy growth in areas such as skin and hair health, body care, personal care, and hybrid makeup products, as well as fragrances and fragrance-forward products that provide an added sensory experience,” says , a managing director. “Innovative founders and brands like those honored at this year’s Visionary Awards exemplify this opportunity, bringing differentiated and high-performance products to the market that are highly sought after by consumers.”

The 2025 CEW Visionary Awards, presented by Harris Williams, showcased these groundbreaking beauty entrepreneurs. Below, the honorees and members of our Consumer Group explore the trends behind the sector’s expansion and investment potential, the key traits to seek in a growth partner, and advice for navigating an uncertain market environment.

Delivering High Performance

Several trends are supporting steady growth across the health and beauty landscape, including a continued desire for clean and safe products that deliver on performance, a greater emphasis on science-backed formulations, and the convergence of health and beauty solutions that offer multiple benefits.

“Consumers are prioritizing beauty and personal care products that deliver results and will look for specific active ingredients, clinical studies, and clean certifications that match their goals,” notes McPhilliamy. “Brands that embody the values and lifestyles of their consumers through their commitment to areas like transparency, sustainability, inclusivity, and accessibility—often born from an authentic founder experience—will be well positioned for success.”

Meanwhile, offering top-quality products that connect to the values and lifestyles of consumers—while striving for an accessible price point—are common goals shared by many best-in-class brands.

Our Consumer Group believes these themes, when combined, will boost strategic buyer and financial investor confidence in the sustainability of demand throughout the industry, with a number of growth opportunities across subsectors.

“The convergence of beauty and wellness has widened the aperture for financial investors and strategic buyers alike,” says McPhilliamy. “These trends are driving M&A activity in newer areas such as body deodorants, longevity-focused skin care, and GLP-1 beauty solutions, as well as refocusing attention on subsectors like body care, hand sanitizers, and sun care.”

Even in today’s uncertain environment with its unique set of business obstacles, the CEW Visionary Awards honorees are generating growth and finding success in a variety of ways.

And across the honorees, each founder also mentioned similar traits that they prioritize when looking for a growth partner.

“Many of our award winners say that an important characteristic in a financial partner is sharing the same values, mission, and vision for the future,” adds McPhilliamy. “They also believe that the best partners bring strategic and operational insight, while helping open doors to talent, new markets, or additional industry expertise.”

An Ideal Space to Scale

With constant innovation and diverse product categories, the large and dynamic health and beauty sector is ideal for launching and scaling businesses. Leading entrepreneurs, such as those honored at the 2025 CEW Visionary Awards, are driving the industry’s growth.

As these businesses continue to expand, they often attract M&A investors. Brands that are innovative, mission-driven, and have loyal communities are highly sought after, especially those in trending categories. “Investment in health and beauty is appealing due to strong fundamentals and supply-demand dynamics that boost M&A activity,” says McPhilliamy. “Strategic buyers rely on M&A to grow and fill gaps in their portfolios, while the number of independent and investor-backed companies seeking exits continues to rise.”

To further discuss health and beauty M&A, please contact our senior professionals.

1. Circana