Helping business get 'future ready'
Major new trends driving the Asia Pacific personal care market are set to be unveiled at in-cosmetics Asia in Bangkok from 8 to 10 November.
Specialists from a cross-section of research disciplines will share their predictions for this, the world’s largest beauty and personal care market , highlighting the key areas that make this dynamic industry tick.
In a series of free-to-attend Marketing Trends & Regulations presentations, global experts will examine some of the industry’s hottest themes, looking particularly at how manufacturers can tap into Asia’s diverse markets, the evolution of K-beauty, Hybrid beauty in Asia, how to target the ‘unpredictable millennial generation’ and the rise of digital technology. New consumer data and the latest regulatory changes affecting personal care manufacturing in Asia Pacific will also be revealed.
“Asia is a fast-evolving cosmetics market and Asian consumers are embracing new trends quicker than any other region in the world,” according to Sarah Gibson, Exhibition Director of in-cosmetics Asia. “So progressive is the sector that sales of beauty and personal care products skyrocketed in 2015 and are expected to pass US$150bn by 2017 . However, the market is expected to increase in size by almost 25% by 2020, showing it has yet to reach maturity and there is substantial room for growth. With this in mind, our Marketing Trends programme will provide visitors with trends information, market analysis and data, to ensure they are ‘future ready’ and equipped to best target consumers throughout Asia.”
Exploring consumer trends
According to Euromonitor International, global sales of beauty and personal care products reached US$425bn in 2015, with Asia Pacific claiming 30% of that figure. While the sector as a whole is booming, internet retail in particular is growing fast. Joanna Chan, Research Analyst, will examine the latest numbers in her presentation, Asian Consumer Trends and look at what we can expect in the future.
Focusing particularly on the Korean beauty phenomenon, a new speaker to the in-cosmetics line up, Nicole Fall from Asian Consumer Intelligence, will analyse consumer demand and innovation in South Korea. Decoding the Future of K-Beauty will explore what appeals to consumers and why Korean beauty brands are so popular, and forecast what’s next for this dynamic market.
Cosmetics vs. skincare
When it comes to the future, the lines between product categories will continue to blur as consumers expect to be able to purchase one product with multiple uses. With the popularity of alphabet creams, cushion foundations and tinted lip balms, makeup offering intensive benefits for skin has created an expanded definition of hybrid beauty. In her presentation, Hybrid Beauty in Asia, Florence Bernardin, CEO of Information and Inspiration, will update visitors on the latest launches from the region and show how these indicate new directions for the trend.
Digitising the beauty industry
While expectations of Asian beauty products have soared in recent years, one area that has become increasingly important to consumers is digital technology. The explosion of smartphones and social media has significantly influenced consumer expectations and their interaction with the products and services around them. Jamie Mills, Associate Analyst in Consumer Insights at Canadean will explore how this changing environment is impacting consumer preferences and attitudes in her session Targeting Consumers in Today’s Digital Era.
Also tapping into the technology trend – but from a brand perspective, Khyathi Nirmal Kumar, Head of Digital Planning at Singapore-based Happy Marketer, will present a session on Digital Marketing Strategies for Beauty Brands. “Millennials are smart, savvy and spoilt for choice,” she says, “but they are by far the most unpredictable generation. Marketers need to constantly innovate and experiment to keep up and understand what influences them”. From digital campaigns to social platforms like SnapChat, this session will look at best-in-class content, enabling marketers to experiment with creative approaches that work for them.
As important as keeping abreast of market trends and innovation is understanding legislation and certification for various product categories. Ken Liu, dermal toxicologist at the Hong Kong office of Delphic HSE, will take attendees through the latest Safety Assessment of Cosmetic Raw Materials in his presentation. Outlining why this is crucial for formulators at the very early stages of product development, Liu will explain the toxicological profile of raw materials and how any risk of the final product can be managed.
in-cosmetics Asia takes place at BITEC in Bangkok from 8-10 November. Featuring more than 400 international cosmetic ingredient suppliers, the event enables manufacturers to source the most innovative ingredients, while developing their technical knowledge and understanding of current trends. Visit www.in-cosmeticsasia.com for further information and register online to gain free entry to the event.