In a recent report by NPD, the data firm writes that while Black-founded brands are still a small segment of the overall beauty industry, they pack an outsized influence on the market. Not only are they contributing to the overall growth of the beauty industry, according to NPD, but they have also helped to improve the way beauty products are conceived, manufactured, and marketed. Additionally, these brands have been instrumental in innovating the industry, and are becoming more influential among a larger and more diverse set of consumers. The report, titled Black-founded Brands Pave an Innovative Path for Beauty, also lays out sales of Black-founded brands during the 12-months ended February 2022, their performance compared to other brands, and the impact of Black-founded brands on various beauty categories, such as makeup and hair care.