The next breakthrough point for efficacy cosmetics is to be more efficient, safer, more stable, more targeted, more segmented.
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 Yi Dewei, president of CABIO, to share with us the cosmetic trends in China.
CHAILEEDO: What is the trend for new ingredients next year?
Yi Dewei: Ingredients have constant processes of turnover, and any active ingredient has its own life cycle. From the initial budding period, the popularization of concept, application expansion, maturity, to the final stage of decline.
From the perspective of brand customer demand in downstream and consumer preference trends, as high efficacy continues to white-hot, high efficacy ingredients also maintain a very high degree of enthusiasm in recent years.
For example, CABIO owns the new ingredient N-Acetylneuraminic Acid 001, which has completely independent property rights. It has very obvious effects in anti-wrinkle, promoting collagen production, soothing, etc. It is one of the representatives of Chinese new ingredient technology, which is also the outstanding advantage of this ingredient, and becomes a very important reason for Chinese and international brands to choose this ingredient. In addition, consumer demand for refinement is also expanding. As new trends such as emotional beauty and emotional cosmetic gradually begin to take root in China, there will be a very good trend for related ingredients in the future.
CHAILEEDO: Will synthetic biology replace plant and animal extracts?
Yi Dewei: The significance of application of synthetic biology in the field of personal care is divided into three main categories.
First, replacement. That’s one-to-one replacement of ingredients of plant and animal extracts or chemical extracts. Second, creation, synthetic biology can purposefully create new structures and new substances, which is one of the important reasons why people say “synthetic biology is the core driver of innovation in the cosmetics industry”. Third, green sustainability. It avoids the ecological damage of some extraction methods.
As to whether it can be completely replaced former ingredients, it ultimately depends on whether the product is of better quality or lower cost, as well as other factors such as green sustainability and ethics.
Synthetic biology is still in the development stage, and in most cases, the products produced by synthetic biology have better efficacy. For example, synthetic collagen has smaller molecular weight, easier to absorb and fewer allergens, and squalane has higher purity, etc. But the cost is not guaranteed to be lower for all products, so it is still a process of spontaneous selection by brands.
CHAILEEDO: Where is the next breakthrough point for efficacy cosmetics?
Yi Dewei: The next breakthrough point for efficacy cosmetics is to be more efficient, safer, more stable, more targeted, more segmented, and to create technical barriers through development, production or compounding to improve these properties of cosmetics.