INTERVIEW
the industry, together with other ingredients like alpha hydroxy acids and so on. What is interesting from an
industry perspective are biotech ingredients and the potential to overcome formulation and stability challenges seen in traditional synthetic ingredients. We have seen several big
companies making major investments in biotechnology. For example, L’Oreal made a minority investment in Shinehigh Innovation in China. They specialize in cutting-
edge supramolecular chemistry that allows previously impossible ingredient combinations. Other Chinese companies like
Bloomage have a big platform of biotech ingredients. There’s also L’Oreal, Unilever and Kao who have made a joint investment in Geno. This truly is a space to watch
for the exciting ingredients of the future. It may be that some molecules, which previously couldn’t be possible because of stability and formulation challenges, could be possible due to biotechnology. I think that’s going to be
exciting to see how it pans out.
“It may be that some molecules, which previously couldn’t be possible because of stability and formulation challenges, could be possible due to biotechnology. I think that’s
going to be exciting to see how it pans out” KinShen Chan, principal analyst of beauty and personal care, Mintel
TP: You’re based in the Asia- Pacific region, in Singapore. What local trends are you seeing there? KSC: In the aftermath of the pandemic, consumers are now
more health-conscious than ever. This heightened awareness has significantly shifted attention towards the ingredients in beauty products.
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According to Mintel’s consumer data 50% of female consumers in China express their willingness to pay the full price for beauty products boasting high-quality ingredients.
TP: Demand for skin whitening/ brightening ingredients seems as strong as ever in the Asia-Pacific region. Do you think that will ever change? KSC: Skin brightening remains an integral part of how beauty is perceived traditionally in APAC. The perception of beautiful skin in mainstream media through popular Korean-dramas or Chinese-dramas often depict women with lighter skin tones and that nudges consumers to yearn similar beauty ideals, therefore brightening will remain an important category in APAC.
TP: What else is trending in Asia-Pacific? KSC: We have seen beauty ingestibles bounce back in recent months. This is an interesting space. After COVID-19, there is an increased focus on skin health. Beauty brands are trying to tie in health benefits with skin and that
www.personalcaremagazine.com
March 2024 PERSONAL CARE
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