The global cosmetics market is in rapid ascent. According to Fortune Business Insights,it is projected to hit 415.29 billion dollars in 2028, at a CAGR of 5% during the forecast period 2021-2028. Within this, the Asia Pacific (APAC) region is expected to dominate, valued at $102.55 billion in 2020 and forecast to increase significantly over the next five years. This is largely due to increasing urbanisation and improvements in standards of living, as well as a growing number of working women and a rising middle class across the continent.
Home to more than 4.3 billion people, the region has become a focal point for beauty business investors and multinationals keen to broker potentially lucrative relationships in the area. With a reputation for innovation, much has been said about Asia being at the forefront of beauty both in terms of consumer discernment and product development. The Asian beauty regimen, has, after all, been lusted after across the globe for many years.
And it’s no surprise why. Asian consumers are seriously avid beauty enthusiasts. Proper skincare routines and maintenance are of utmost importance to them, and regular practices such as double cleansing, facials, weekly treatments, and topical vitamins are all commonplace in the beauty routines of people of all ages and income levels. However, things have moved up a notch in the past few years. Where once the beauty industry was famous for whitening products, suncare and bold colours, it is now focused on more complex concepts, such as gender-less beauty, personalisation, and the digital beauty revolution.
But what are the trends behind the scenes driving these developments? What are the ingredients, products, and processes appealing to consumers the world over, and how has Asia succeeded in curating such a mind-blowingly successful industry?
All of the answers to these questions – and more – can be found at this year’s in-cosmetics Asia, the leading event in Asia Pacific for personal care ingredients, which returns to BITEC in Bangkok from 1-3 November 2022. Taking place in Thailand for the first time since the pandemic, the event will provide a platform to connect the regional and global personal care industry; over 400 suppliers of personal care ingredients, fragrances, lab equipment, testing and regulatory solutions will have the opportunity to meet with an anticipated 9,000+ Asia Pacific personal care creators as the exhibition provides a host of comprehensive and cost-effective learning, business, and networking experiences across the three days.
An exciting line-up of ingredient innovation
Every year in-cosmetics Asia plays host to an exciting line-up of ingredients innovators and this year is no exception. With a growing number of new exhibitors, attendees will have a chance to discover the latest ingredients and new solutions for exciting NPD opportunities. For example, Vital Chem, a manufacturer specialising in botanical raw materials and herbal derivatives, will showcase its Shikonin (Shikon Extract). This natural skin regeneration ingredient is derived from the root of Lithospermum erythrorhizon and offers powerful anti-inflammatory and skin repair properties that penetrate deep into the skin’s layers to promote wound healing, eliminate acne, acne scars, and fading spots.
Unrivalled educational opportunities
As ever, in-cosmetics Asia will deliver an unrivalled education programme, centred around the popular Marketing Trends & Regulations programme, which will define industry trends for professionals from across the NPD process. Featuring a plethora of top industry experts, the sessions provide attendees with market-leading facts, figures, analysis, research data and the latest regulatory changes in personal care manufacturing.
Perhaps unsurprisingly, China, the world’s second largest beauty and personal care market, will be the subject of a number of presentations in this year’s Marketing Trends & Regulations Theatre.
There will also be an in-depth interpretation of CSAR and regulatory trends in China (Introduction of CSAR and its highlight on China ingredient regulations). China recently finalised the long-awaited overarching regulation – Cosmetic Supervision and Administration Regulation (CSAR) – formally replacing the 30-year-old Cosmetics Hygiene Supervision Regulations (CHSR).
Trends in China – and other regional markets – will also be explored in a session focusing on K-Beauty, C-Beauty, J-Beauty, and T-Beauty. The discussion will examine the latest developments in the country as well as delving into what makes other key markets such as Korea, Japan, and Thailand tick.
Other topics also set to be covered throughout the three-day programme include Ageless Beauty, led by Malyn Ungsurungsie, Technical Director, S&J International Enterprises PCL, which will look at how the sector is evolving, and what impact a rapidly ageing region has on innovation and purchasing behaviour. The future of Halal beauty will uncover how brands are innovating, strategies to obtain certification.
The role of Gen Z and Millennials in disrupting the beauty landscape is also expected to be a hot topic in the Marketing Trends & Regulations Theatre at this year’s event. The session will cover the main driving forces and the role of Gen Z, as well as the younger segment of Millennials, taking a deeper look at the way technology enables these forces to have a greater impact.
Interactive learning opportunities
Helping attendees source the latest ingredients and understand new formulation techniques will be a number of exciting interactive areas offering practical, hands-on experience with some of the newest and most revolutionary products to hit the market.
The popular Formulation Lab will return for 2022, offering a schedule of carefully curated sessions designed to help formulators and R&D specialists learn about new ingredients and formulation techniques.
New for 2022, the Formulation Lab will also host an exclusive masterclass led by in-cosmetics Asia’s new Technical Advisor, Dr. Oliver Hofmann. The session will focus on solid cosmetics and waterless formulations, as Oliver explores the issues facing formulators as brands look to remove plastics and respond to increased demands for ‘waterless’ or ‘solid’ cosmetics.
On day three, formulators and researchers will have the opportunity to come face to face with Dr. Hofmann and Stacey Fraser to raise questions they face daily at work. Taking in the style of a free flow, one hour Q&A session, attendees will be equipped with formulation solutions that will help build confidence in becoming a master formulator.
Completing the educational line-up this year is a schedule of Technical Seminars delivered by expert raw material suppliers exhibiting at the event. Aimed at inspiring new product formulations, the free-to-attend sessions will offer a comprehensive overview of key personal care ingredients; from in-depth knowledge of the benefits they provide, to sharing scientific evidence that substantiates the claims associated with their products.
Celebrating excellence in innovation
To close the second day of the show, the free to attend Awards Ceremony will take place on the Innovation Zone on Wednesday 2 November at 17:15. The prestigious Awards typically honour the best Innovation Zone ingredients; Active and Functional categories, and the best Spotlight On formulated ingredients.
Register today and receive an exclusive industry report
Exclusive for 2022, attendees who register online for this year’s event will receive an exclusive in-cosmetics Asia 21-page industry report. With insights from The Kline Group and Gentleman Marketing Agency along with references to research by McKinsey and Company, Euromonitor and more, ‘The Changing Face of the APAC Cosmetics Industry’ report explores the impact of the pandemic on the APAC personal care and cosmetics market. It covers how the pandemic has spurred local growth, the sectors celebrating a revival in popularity and the next chapter of product trends. Register today to receive your complimentary copy. Additionally, those who register online will avoid the 500 Thai Baht fee upon entry to the venue.
in-cosmetics Asia will take place at the Bangkok International Trade & Exhibition Centre (BITEC), Asia’s premier exhibition and convention centre from 1-3 November 2022. Registration is now open. For more information about the show, please visit https://asia.in-cosmetics.com/ and to see the full exhibitor directory, visit https://bit.ly/3bW2Gh5
Source: www.in-cosmetics.com
