11.17.21
The PCHi Technology Summit drew over 1,300 beauty and personal care trade professionals in Shanghai on Oct. 26 and 27, further cementing its position as a leading learning platform for the industry.
Curated by PCHi’s Cosmetics Science and Technology Innovation Committee around the theme of “Empowering the Future with Technology,” more than 60 distinguished speakers spoke at the event covering the latest industry trends, interpretation of China’s revised regulatory framework, product efficacy evaluation and testing, research and development on cosmetic formulations, clinical research and foundations in skin care, as well as the most current formulation technologies.
Speaking at the event’s opening address, Chen Shaojun, chairman of the China Association of Fragrance Flavor and Cosmetic Industries, urged industry players to press on in their pursuit of innovation and excellence in product development.
“As the world’s second largest cosmetics consumer market, China accounts for about 16% of the global market share and it achieved an impressive 41.4% year-on-year growth in just the first quarter of 2021,” said Shaojun. “Domestic cosmetics companies must continue to pay close attention to key factors such as efforts in research and development, the effects of larger scale economics on the industry, and the progressive changes to the regulations. In so doing, the industry will without a doubt achieve new heights and maintain its draw as a sunrise industry.”
On a similar note, Laurie Du, Mintel’s senior analyst for the Asia Pacific beauty market, further emphasized the need for companies to innovate.
“The popularity of online retail and social media has created many opportunities for new brands in recent years and has brought many innovative products to the market,” she said. “’New' has become a keyword that the industry takes much interest in.”
She also highlighted four themes that new global beauty and makeup trends are centered on – health, value, environment, and technology – themes that are valued by consumers today, and worthwhile for brands to explore moving forward.
Apart from the plenary sessions, Summit delegates were also able to explore some of the latest offerings presented by more than 46 exhibitors, further enriching the overall experience.
The next edition of PCHi will be held from March 2-4, 2022 at the Shanghai World Expo Exhibition & Convention Center, China. Visitors can pre-register online for complimentary visitor access at bit.ly/PCHi2022PreRegister from now until Feb. 24, 2022.
For more information about PCHi 2022, visit pchi-china.com/en, or connect with PCHi on social media.