|According to Euromonitor report, the global retail value of the skin care market registered US$134.6 billion in 2018 — of which the Asia Pacific region accounted for 50.7% (US$69.9 billion). The market is set to grow another estimated 3.4% to reach US$159.5 billion in value between 2018 and 2023, with the Asia Pacific region accounting for US$86.5 billion.
With its high population density, the changes in consumer lifestyle, and the rise of local brands, China has become the largest market in Asia Pacific for beauty and personal care products — exhibiting a sustained and steady growth in recent years.
Its sheer size aside, the Chinese beauty and personal care market presents many opportunities for new product innovations and several consumer-driven trends.
Across the globe, discussions around environmental issues have dominated headlines and consumers are paying more attention to their impact on the planet. For the beauty and personal care industry, consumer demand for green and sustainable products is a clear indication for companies involved at any point of the supply chain to relook their processes and innovate to meet their sustainability goals.
Custom Skin Care
The skin care industry is packed with ‘one-size-fits-all’ products and consumers have grown increasing frustrated with mass market offerings that are unable to meet their specific needs. A rising number of brands are now offering custom skin care solutions — allowing consumers to tailor their skin care regimes for individual skin needs — and this trend is set to continue with increasing momentum.
Experiential marketing enhances the connection between consumers and brands through the development of more engaging formats and a more personalized customer experience. Both traditional and online-only brands are actively looking into employing an omni-channel approach that will appeal to consumers seeking a dynamic and sharable experience.
With the advancement of the Industry 4.0 revolution, drivers like artificial intelligence (AI) are rapidly changing the way we think, work, and interact with data and technology. Hailed as the invention that will change the world, AI is a game changer even for the beauty and personal care industry. The integration of AI technology — into applications such as skin analysis platforms that assess skin condition and offer skin care advice — are disrupting the way consumers shop for and make decisions about skin care products.
Pre-registration for PCHi 2020 Now Open
PCHi- The Personal Care and Homecare Ingredients trade show is China’s No.1 sourcing platform for the global personal care industry. With over 600 exhibitors, estimated 25000 professionals from over 70 countries and regions and over 42000㎡exhibition area, PCHi will welcome the 13th edition on 8-10 July at the Shanghai World Expo Exhibition & Convention Center, China. Visitor pre-registration is now open!
By pre-registering online, you stand to enjoy the following benefits:
• Complimentary access to PCHi 2020 (worth RMB 200)
• A chance to participate in a monthly lucky draw for PCHi 2020 Conference Tickets
• Beat the on-site registration queues
For enquiries on visitor pre-registration, please contact:
Ms. Sophia Qiu
Mr. Shawn Liu