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One-on-one with IMCD at philbeauty

Source:Household & Personal Care Release Date:2017-06-20 896
Personal Care
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Philippe Russo, the Regional Director SEA for IMCD Asia Pte. Ltd., talks to Ringier on IMCD’s participation in philbeauty

IMCD was among the leading exhibitors at philbeauty, the only beauty trade show for professionals in the Philippines, held from 31 May to June 2 at the SMX Convention Centre in Manila. The company has an office in the Philippines, and knows this market – as well as the SEA market, through and through. At the show, we caught up with Philippe Russo, the Regional Director SEA for IMCD Asia Pte. Ltd., to learn more about the growth of the industry in the region.

Philippe Russo, the Regional Director SEA for IMCD Asia Pte. Ltd.

Philippe Russo, the Regional Director SEA for IMCD Asia Pte. Ltd

IMCD decided to participate as exhibitor at philbeauty for the first time. What were your expectations at this trade show?

Whilst we regularly exhibit at in-cosmetics, which tends to be more focused on raw materials, we expect to get a little closer to the final products and their respective distribution channels at philbeauty. Being new to the Philippine market, we hope that philbeauty will provide us with the opportunity to improve our visibility in the cosmetic industry.

In which areas is IMCD active – cosmetics, health and wellness?    

IMCD is active in all sectors of the personal care industry and has a comprehensive coverage of the market. We offer our customers a range of high quality ingredients for a variety of formulations, whether it be for a face cream, a deodorant, an oral care product, colour cosmetics or a hair product. Through our dedicated personal care application labs, we are also able to support our customers’ R&D teams by using our synergistic portfolio to develop formulation solutions that embrace the latest technical and market trends.

How would you describe these segments in the Asian region?

With the economy improving in the majority of ASEAN countries, all divisions of the personal care sector are continuously growing. In the emerging markets, some cosmetics are considered a basic requirement, especially personal hygiene products such as oral care and toiletries. A few Asian countries have been a key market and worldwide referent for many years, especially when it comes to facial skin care, but still have big growth potential across all segments as later generations adopt new ways of living. Global trends such as "active beauty" (products that stay and keep their effectiveness all day long) are very present in the Asian region and will be a source for new developments. These are expected to be somewhat different to the creations that emerge from the other side of the globe.

How does the China market compare to the ASEAN?

The ASEAN and China market differ greatly in their buying habits and the key issues surrounding them. As an example, in China there is a big concern over pollution, and therefore the ingredients protecting and treating the effects of harmful pollutants on the skin or hair are an essential component in all cosmetics. In ASEAN countries, anti-pollution cosmetics are trendy but not considered essential. Similarly with SPF, consumers in China believe sun protection is a must and are willing to pay extra for added SPF in products such as soap bars, whilst in ASEAN countries it is still much more difficult to sell products that are not specifically intended for sun protection.

Products that promise younger-looking skin always sell well. Does IMCD see this category to remain buoyant?  What other opportunities do you see growing in the beauty industry here in Asia?

Yes, products that claim to deliver younger looking skin will undoubtedly remain best-sellers in the market. However, we also expect the anti-ageing component to become a requirement in formulations that are not necessarily designed specifically for that purpose, as was previously mentioned with anti-pollution agents and SPF. This can already be seen in the market with deodorants that keep the skin around the armpit clearer and softer and hair care products that contain anti-ageing properties. In addition, the anti-ageing trend is now steering towards new approaches, with products that also aim to target consumers that are more senior. These do not claim to have "anti-ageing" effects as such, but instead promote a positive ageing concept, i.e. products that take care of the skin without making impossible promises, aiming to improve the look and feel while making older consumers more comfortable in their skin.

As for growth opportunities, most of the countries in Asia still have huge potential as with the exception of Japan and Korea, certain categories of personal care products have not been used regularly by the population until only a decade ago. Anti-acne, sun protection and baby skin care are some of the markets with more growth potential. Of course, whitening products will be always present in Asian countries, but these are now moving away from the pursuit to achieve skin that is whiter towards concepts like flawlessness and brightness. Finally, as is the case with the rest of the world, cosmetics for urban lifestyles continue to experiment and expand with products that are anti-pollution, sweat resistant and that help in the management of excess skin sebum.

For any product to work, of course understanding the market is at the core. Can you tell us the expertise that IMCD Philippines can offer local companies?

IMCD Philippines offers a well-rounded, detailed knowledge of the ASEAN personal care market. Although only present in the Philippine market for less than two years, the personal care team has more than 45 years of combined technical expertise. With their technical backgrounds and exposure to the different areas of the industry (personal care market, raw material interactions, formulation development, processing & production and troubleshooting), we offer first-class solutions to help local cosmetic companies address their day-to-day technical issues and product development challenges.  IMCD Philippines is equipped with a dedicated laboratory and is committed to developing new formulations aligned with latest industry trends. Moreover, with excellent continuous support from our supplier partners, we are always presenting new and effective innovations, meaning the bench-to-market turn-around time is reduced. Together with the expertise of our IMCD affiliates in other parts of the world, we offer limitless possibilities in supporting our customers.

For those who were unable to attend IMCD’S seminar, “Formulating for the Millennial”, what would be some takeaways from the talk by Ms Maria Fe Boo?

Our seminar offered a deeper understanding of millennials, the very important demographic group born in the 1990s that key cosmetic companies are trying to get to grips with. In the Philippines, millennials make up the majority of the spending class and are incredibly active on social media. Understanding how they are affecting the current beauty industry and their impact on the next generation, will help significantly in formulating products for today and in identifying the direction that the industry is going.  We presented a number of different formulations that meet the needs of the millennials including selfie/pixel-ready and instant beauty-blurring formulations. As luxury and self-indulgence are important factors to millennials, we also introduced new materials offering the WOW effect in sensory cosmetic textures.

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