LF Beauty: meeting Asian consumers' needs has 'never been more challenging'

By Lucy Whitehouse +, 13-Jul-2016, cosmeticsdesign-asia

The president of LF Beauty, a third party manufacturer and supplier, has spoken of the challenges and opportunities being posed for beauty by the Asia market.

The article outlines that it has never been more challenging, while there have never been more opportunities for brands to satisfy the customers’ needs. According to Raymond “Asian beauty is now setting the pace for the world”. China’s customers have a rising demand for K-beauty products, whereby Korean brands face the challenge of acting with insider knowledge of the Chinese market.

Indeed, the Korean International Trade Association found out that Korean companies accounted for 22.1% of China’s imported cosmetics in 2015, closing the gap with the French who have a market share of 30.6%. During the first seven months of the year, China’s imports of cosmetics products rose 36.1% to $1.67 billion.

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What is halal skin care and makeup, and what are the trends?

By Lucy Whitehouse +, cosmeticsdesign-europe, 06-Jul-2016

Halal is becoming big business for the beauty industry globally, and particularly in Asia: a central focus for this week’s in-cosmetics Korea event, we take a closer look at the trend.

Kunal Mahajan, project manager of Chemicals & Energy at Kline - top management consulting firm serving the Chemicals industry globally – explains in the article that “halal” can not only be associated with food and beverages, but that its denomination is equally appropriate for pharmaceuticals, personal care, skincare and hair care products.

But what makes a product halal and why does “halal” become a trend in cosmetics?
Mahajan outlines the answers in detail in his article: The key contributors to this trend is economics and the changing consumer lifestyle.

According to Mahajan, top growth regions for halal products will be the Middle East and Asia, particularly South Asia and Southeast Asia.

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Ethnic skin care: the way forward or outmoded concept?
By DSM Nutritional Products, Ltd 16-Jun-2016, CosmeticsDesign-Europe.com

Whilst the power of beautiful skin is undeniably universal, skin care needs vary widely from person to person. Men’s skin is not the same as women’s; younger skin has different needs than older skin. Skin may be dry or oily. And skin – the largest organ in the body – differs in another way: it comes in a beautiful range of tones which are visible links to our genetic and ethnic heritage.

So what are the broader influences behind consumer choices when it comes to skin care products?

Skin: an evolving story
In many regions of the world – China being a case in point – the population is still fairly homogeneous and people may have quite specific skin care needs based on cultural as well as biological factors. DSM Consumer Insight researchers who went to that country found that definitions of beauty in China often differ widely from those cited in many Western countries. They also found that Chinese women had different anti-aging skin care priorities, tending to be less worried about wrinkles than about loss of skin elasticity, enlarged pores and uneven tone.

For manufacturers of skin care products this presents both challenges and opportunities.
A DSM Insights team that conducted a field study in Los Angeles and New York among mothers, daughters, aunts and friends obtained a myriad of rich insights into their notions regarding ethnicity and skin care. Many interviewees declared their opposition to the idea of categorizing people by ethnic group, believing that this simply isn't consistent with people's views of the world today, or their view of themselves.

The take-away message from consumer insights is therefore that the need for multifunctional skin actives which work equally well for all skin tones and types is set to grow.
In their study DSM investigated the global applicability of a peptide ingredient amongst three different ethnicities (Caucasian, Asian and African), whereby they discovered new cosmetic properties.

• Multifunctional anti-ager for all skin tones
• Visible reduction of the signs of aging and shiny skin
• Improved skin smoothness and appearance resulting in younger-looking skin

The peptide therefore has applications as a global anti-aging cream and serum, and as a skin beauty maximizer mask. It is China-listed.

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The Body Shop looks to gain momentum in the Middle East with new launches

By Andrew McDougall+, 25-Mar-2016

The Body Shop is turning to new product launches in the Middle East as it looks drive sales in the region off the back of a good year in 2015.

According to parent company L’Oréal’s annual results, the UK-based brand recorded 10.7% growth based on reported figures for the year, and this was thanks to good momentum in the Middle East, as well as in Africa and Europe, only offset by challenges in Asia and North America.

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A NICE AND UNBELIEVABLE STORY

During a visit of a factory Saké in Kobe (Japan), Japanese scientists find that the hands of sake brewers, constantly immersed in sake yeast ferments during the manufacturing process, are incredibly soft and young, and contrast with their faces marked by old age.

Discover in this eye-catching movie the story of Sucess Key of SKII, a Japanese skincare brand born in 1970.

Click to watch the short video about the Saké brewers

1970- Discover of the Pitera, the ingredient component of th SKII anti-ageing cream

1990- SKII is bought by Procter & Gamble. This is the beginning of an incredible story with a sales development all over the World: Asia, Australia, Spain, UK, USA and South America. 

The Indian luxury market is expected to cross that amount during this year.

According to a research report by Euromonitor, India merely contributes 1-2% to the global luxury trade. However, despite this insignificant percentage, the market is growing at a compounded annual growth rate (CAGR) of about 25%. Indian luxury market is expected to cross $18.3 billion by 2016 from the current $14.7 billion.

As per a study by Assocham , in 2015, luxury jewellery, electronics, SUV cars and fine dining have grown immensely. Apparel, accessories, wines and spirits are growing as strongly as in the past. Consumption of branded wine is also likely to register a over 30% increase in the metro cities.

Indian brands are starting to be well-known, with Gitanjali Group (jewellery retailers), Titan Company (5^th largest manufacturer of wrist watch in the world) and PC Jeweller Limited (jewellery retailers) now accessing the top 50 luxury brands worldwide.

Finally, it is to be noted that cosmetics and beauty products markets are highly lucrative in India, since women’s purchasing power is greater.

READ THE FULL ARTICLE : [Luxury Society]

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