Industry Leaders Urged to Actively Pursue Innovation & Excellence
Held from 26-27 October 2021 in Shanghai, China, the PCHi Technology Summit drew over 1,300 beauty and personal care trade professionals in attendance, further cementing its position as a leading learning platform for the industry. The event was carefully curated by PCHi’s Cosmetics Science and Technology Innovation Committee (CSTIC) around the theme of ‘Empowering the Future with Technology’ and it highlighted key industry developments and issues for consideration.
Cornerstones for the industry’s growth
More than 60 distinguished speakers spoke at the event, covering topics like the latest industry trends, interpretation of China’s revised regulatory framework, product efficacy evaluation and testing, research and development (R&D) 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 (CAFFCI), 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. Domestic cosmetics companies must continue to pay close attention to key factors such as efforts in R&D, 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,” he commented.
On a similar note, Laurie DU, Mintel’s Senior Analyst for the Asia Pacific Beauty Market, further emphasized the need for companies to innovate. She added, “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. ‘New’ has become a keyword that the industry takes much interest in.” She went on to highlight four themes that new global beauty and makeup trends are centered on: health, value, environment, and technology, citing that these themes are valued by consumers today, and are 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.
Readying the industry for the future
PCHi has always sought to provide the personal care market with a professional and engaging platform from which they can glean insights on the latest trends, technologies, and industry developments. As the beauty and personal care industry continues to undergo post-pandemic transformations, businesses must review the opportunities afforded by these changes to adapt and stay ahead of the competition. The annual PCHi trade event and the PCHi Technology Summit provide robust platforms for trade professionals to gather, exchange ideas, and form new collaborations to drive the industry forward amidst the uncertainties ahead.
The next edition of PCHi will be held from 2 to 4 March 2022 at the Shanghai World Expo Exhibition & Convention Center, China.
Visitors may pre-register online for complimentary visitor access at www.bit.ly/PCHi2022PreRegister from now till 24 February 2022.
For more information about PCHi 2022, please visit www.pchi-china.com/en, or connect with PCHi on social media.
