Yes, yes it is but so what? Does that mean you shouldn’t try?
I speak to business owners every day who have carved out a niche for themselves in a very crowded marketplace and are doing very well. Oftentimes, with stock off the shelf private label products.
What makes their brand more successful than yours? Two things in my opinion:
They have identified an underserved markets and filled in the gap with a product that their customers need.
They showed up and tried. Most people’s ideas die shortly after they are born.
While beauty may be over crowded, people love new products. Additionally, there as very specific markets that are not being served to the fullest and still leave room for a well thought out brand that speaks to the market, is priced correctly and delivers.
Men’s skin care and beard care
Speciality body care products
Anything that is specific “free from” – free from Parabens, toxins, non-gmo, etc.
Women’s skin care is evergreen. Anything in the anti-aging space with newest effective trends such as rosehip oil, peptides, other technology
If you are concerned that the market place is too crowded and you are going to be just a “me too” product, I would still move forward with my project.
If you have a unique idea, story or delivery system and/or have created a product that is filling an underserved market place then why wouldn’t you get it into it?
If you do start a new brand, commit to go all the way. If you have an existing brand RE-Commit, your products are needed. There is space for you.