Endless possibilities for K-beauty shown at in-cosmetics Korea 2022

Endless possibilities for K-beauty shown at in-cosmetics Korea 2022
  • Clean beauty, vegan beauty, ingredients synchronizing with the circadian rhythm and mineral & synthetic ingredients were the biggest trends.*
  • Best Ingredient Award for Innovation Zone glory went to Greentech, IFF-Lucas Meyer Cosmetics, Ashland and Carbonwave.
  • Insights into APAC cosmetic regulation updates and trends such as ageing, the effect ingredients have on consumers’ purchasing habits and sustainable beauty were shared.
  • Invaluable interaction between 202 suppliers from 18 countries and 9,792 personal care creators in total (unique visitors 8,519)

Following on from three days of personal care ingredient sourcing, sharing of formulation techniques and education sessions about the trends shaping the global cosmetic industry, visitors and exhibitors alike praised the action-packed event that took place at Coex in Seoul.

8,519 unique visitors and 9,792 visitors in total (including re-visits) – including 10% overseas attendees from Thailand, Indonesia, Vietnam and India, and 90% from Korea represented by the likes of LG, AmorePacific, Cosmax and Kolmar Korea,  flocked to in-cosmetics Korea on 13-15 July.

The domestic Korean market is slowly but surely recovering from Covid. Indeed, beauty and personal care sales are forecast to reach US$12.7 billion in 2022, i.e. a 6% increase vs 2021**. But, with top cosmetic manufacturers in the country reported to be launching a staggering 20 to 30 new products every month (vs up to 30 a year in Western Europe!)***, there is relentless pressure on local formulators to seek out new ingredients to make their brands shine and boost their company’s market share.

To respond to this demand and support visitors’ NPD requirements, global leading raw material suppliers such as Ashland, Guangzhou Tinci, DSM, Evonik, Merck, Nouryon and SEPPIC amongst others were on hand to support and engage in conversation.

In addition to a strong presence of Korean suppliers such as ActivOn, Biosolution, Cosfine and Dabong LS, first time exhibitors from across the world such as Abich, Cellicon Lab, Uni-powder made their debut into the Korean market.

A hotbed of innovation – and deserved recognition!

Yet again, one of the most popular areas of the show was the Innovation Zone, which showcased 23 new ingredients released onto the market in 2022. Out of these, 4 ingredients came up top and were crowned best active and functional ingredients as judged by a panel of 8 experts coming from manufacture of finished products, market research agency and academy.

The ‘Best Ingredient Awards’ gives recognition to companies whose ingredient launches combine innovative science and product features that provide substantial benefits to manufacturers and to end-users when compared to existing ones.

In the Actives category, Myralys by Greentech, a unique ingredient that addresses the challenging area of Face-Eye won First Place. Wastar Pink Berry by IFF-Lucas Meyer Cosmetics was runner-up with a product that uniquely targets to resolve the specific demand of the market as upcycling concepts continue to trend in the development of new skincare technology.

In the Functional category, Antaron soja glyceride by Ashland, a naturally derived ingredient with great applicability and positive sensorial experience was co-winner along with SeaBalance 2000 by Carbonwave an emulsification stabilizer that can be emulsified alone even with seaweed-derived emulsifier, oil polarity compatibility, a wide range of viscosity and pH, sustainability and a silky sensory feel.

K-beauty inspiration; Korean beauty is all about customization and the country’s cosmetic ingredients are innovative and inspired by nature in a way unique to Korea.

Whilst under pressure from re-energised C-beauty and J-beauty, K-beauty still fires consumers’ imagination across the globe, hence why it took pride of place at in-cosmetics Korea. On show in the K-beauty Inspiration Zone were top-10 product showcases as well as live demos by global market research agency Mintel about the impact of K-beauty products across the region plus talks about trends and concepts, such as clean beauty, sustainability and ‘skinification’ makeup. P

Product showcases presented the popular products across the APAC region and were highlighted with marketing and technical insight.  Also, part of the programme were seminars on the ‘Future Trends of K-Beauty’ and the factors affecting it, from the limitation of natural resources, and the need for brands to explore lab-grown or natural-identical ingredients, to create more sustainability in the future facial care category.

Educational programmes: Korea’s ability to adapt and learn from global trends

Still as popular as ever with in-cosmetics Korea visitors, the event’s acclaimed marketing trends and regulations seminars and technical seminars shone a light on fundamental but also new topics. Korea’s Beauty Consumer Trends in the Post-Pandemic Era by director Pi and APAC cosmetic regulation updates by Reach24H Korea were the most popular marketing trends and regulation seminar sessions.

Natural ingredients for your sensitized skin by The Garden of Naturalsolution and  First-in-class Transdermal delivery technology, PermeaCell™ by Cellicon Lab Inc. was a big hit in the Technical Seminars programme.

Sarah Gibson, Event Director, in-cosmetics Korea, commented: “The show has firmly bounced back to a pre-pandemic level and I’m pleased it has brought the personal care community together in the centre of K-beauty where it continues to flourish at its root.

in-cosmetics Korea is not only the information source for big manufacturers but also for indie brands and entrepreneurs setting out to start a business in this competitive market. This year, more visitors from emerging markets such as Indonesia, Thailand and the Philippines attended”.

in-cosmetics Korea will be returning to Coex, Seoul on 12-14 July 2023. For more information about the show visit www.in-cosmetics.com/korea

 

*Source: Youtube

*Source: Euromonitor International

***Source: Beautytap

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