YOUZ TESTING: Efficacy and convenience are the keys
- Chaileedo Press
- Sep 30, 2022
- 4 min read
This demand can also be seen in the data recorded this year, where the repair effect is ranked first among the few product.
The beauty industry has encountered various challenges this year. The total retail sales of consumer goods in China for cosmetics was 245.3 billion yuan(about $34.1 billion) from January to August 2022, down 6.4% year-on-year. However, China's efficacy skincare market has been growing rapidly in recent years, with a compound annual growth rate of 23.4%, and is expected to reach 41.1 billion yuan(about $5.7 billion) in 2022. CHAILEEDO invited Li Shiwei, the head of YOUZ TESTING, to share with us the cosmetic trends in China.
CHAILEEDO: From your point of view, what are the biggest trends in the cosmetics industry next year?
Li Shiwei: Environment-friendly, natural and simpler skincare processes, multi-functional and ingredient innovation in single products, convenience claims, synthetic biological ingredients and the integration of sustainable environmental and health concepts, where efficacy and convenience are the keys to stand out.
In addition, according to market data, more and more people are concerned about the impact of the environment on the skin barrier, especially during epidemics, so cosmetics that strengthen the skin barrier will be more popular. This demand can also be seen in the data recorded this year, where the repair effect is ranked first among the few products that have been filed for human efficacy in general cosmetics.
In terms of efficacy, special purpose cosmetics are trusted by more and more consumers because of rigorous audits and clear testing methods, anti-wrinkle products will continue to occupy a certain market position because of the wide range of people in need, and repair products will be a trend at some stage as people become more concerned about the impact of the environment on the skin.
At the same time, according to data, the past six months, fragrance trends continue to influence not only beauty and personal care products, but also the home market. Fragrance personal care products have been in the consumer's daily life and occupy a fairly important position, and these products do not require special requirements, less process, product scalability, the pursuit of minimalism, strong presentation, and fast filing, listing, upgrade iterations. Body and fragrance product categories will also grow rapidly at a certain stage.
CHAILEEDO: In the face of regulatory changes, what are the most important initiatives for companies?
Li Shiwei: To respond to the current changing situation with strong conviction. In order to survive and have long-term development, companies must operate legally and in compliance. With the tightening of regulation, non-compliant products or companies will be ordered to rectify, or notified or punished in the heavy case, which may even lead to elimination in the case of extreme market transparency.
Therefore, to adhere to the bottom line of quality, to keep the quality of the gate, to build the moat of the enterprise, to build the core competitiveness of the enterprise.
After the introduction of the new rules, many brands slowed down the filing speed, from the media statistics show that as of August 18, the information showed in NMPA Special Cosmetic Registration Platform for 2022 registration and batch status in the "current batch" of a total of 1,759 domestic special cosmetics, not yet reached half of last year's number. From January 1 to June 30, 2022, the number of domestic general cosmetic products filed was 170,000+, but moisturizing, cleansing, cosmetic finishing and fragrance accounted for nearly 90% of the total. With the implementation of the requirements of the efficacy claims, enterprises can not be as arbitrary as before, claims to be in accordance with the national regulations of the 26 types of efficacy claims, each product from the surface, the efficacy of similar, and the current form of the formula open and transparent, transparent prices, how to build their core competitiveness is particularly important. A company without core competitiveness is easily homogenized and eliminated from the market.
CHAILEEDO: What are the opportunities for beauty testing organizations in the next year? Or what is the competitive advantage?
Li Shiwei: The country has introduced the fastest and largest number of regulations in the history of the cosmetics industry since 2020, and the introduction of these regulations has brought a lot of business to the inspection and testing organizations, but the lag of the relevant methods has led to a mixed bag of testing organizations. The NMPA has just issued a draft of the "Accreditation of Cosmetic Inspection and Testing Organizations" for public comment, indicating that the national regulation of inspection and testing organizations in the beauty industry is getting stricter and stricter, and that cosmetic inspection and testing organizations want to develop in a good direction, first to ensure compliance and legality, and then to seek development.
Although our country has given laboratory and consumer trial experiments methods, it is difficult to make a breakthrough in the short term, as laboratory methods still need to be verified by a large amount of data to match the human body. But in the long run, testing organizations have human efficacy evaluation laboratories, more development prospects, especially so far only three dozen institutions with three special cosmetic registration test qualifications will have more advantages. Of course, safety assessment is a module of the state that must be managed, as a third-party testing organization, its ability to assess safety is also crucial.
In the longer term, China's cosmetics have to go abroad, and testing organizations should be able to understand the regulations of each country and be ready to serve the export products.
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