The beauty industry in Asia has been rapidly growing for the past few years with the global rise of cruelty-free cosmetics. According to Market Research Future, the cruelty-free cosmetics market is forecasted to grow by 6% by 2023. Several pieces of evidence also advocate that cruelty-free brands are on the rise and catching everyone’s attention. Leading skincare brands from Asia always attract several investors and companies from New Zealand, Australia, and other leading countries.
As per Statista, the Asian-Pacific cosmetic market is forecast to reach around 126.86 billion U.S. dollars by 2020. Besides, skin care has become the largest segment of the Asian Market with a market volume of 14,428 million U.S. dollars. Speaking of Beauty industry, Taiwan is constantly praised by the business media for its capability of successfully launching cruelty-free cosmetic products at high frequency.
Taiwan and several other Asian regions are exporting a large number of cosmetic products to different countries including Australia and New Zealand. Both local and global manufacturers of Taiwanese beauty brands have been applauded for their efforts to understand different regulations on animal testing and come up with innovative beauty products. As per the research held by the Taiwan External Trade Development Council (TAITRA), 24% of the raw beauty materials manufactured in Taiwan are exported to New Zealand and Australia. TAITRA is also known for organizing International Beauty Shows where several beauty experts, manufactures, and professionals come to explore the trend of natural and organic cosmetics and renowned beauty brands from Taiwan.
Taiwan International Beauty Show is going to be held again this year at the Taipei World Trade Center Exhibition Hall 1 (13th to 15th September 2018). The exhibition is the only B2B international beauty show in Taiwan which attracted 1,129 professionals from 32 countries in 2017. Besides, 172 buyers from Mainland China, Brazil, Russia, Bulgaria, the United States, Ukraine, Malaysia, and Singapore attended the exhibition.
In 2018, there will be an influx of visitors from New Zealand and Australia, all excited to explore the latest beauty trends and the best beauty ingredients. This is also a golden opportunity for the company or manufacturer specializing in skin care, hair care, makeup, nail supplies, perfume, personal care, and cosmetics, or manufacturers of beauty therapy machines/equipment or beauty supplements. You can easily register at Taiwan International Beauty Show and make yourself aware of the latest beauty trends and explore a new world of cruel-free cosmetics.
Basically, cruelty-free beauty products are the products or ingredients which were not tested on animals. However, they are tested by using some alternative methods such as Vitro Testing, Computer (in silico) Modeling, Human-Patient Simulators, etc. From cosmetics to personal-care products, a large number of Asian companies are today moving away from animal testing. Moreover, PETA.org has taken a step further, providing the ‘cruelty-free’ nod to the only manufactures that have signed their statement of assurance.
Cruelty-free products are known for having less ingredients and fewer chemicals comparatively. Many cruelty-free brands are providing green products which are less toxic. The best thing about the cruelty-free product is that they are suitable for both your skin and the environment. When you are not applying processed ingredients on your body, it is eventually helpful for your overall wellbeing. People feel obliged knowing that the products they are purchasing support the greater creatures of our planet.
Rats, mice, bunnies, dogs, cats, guinea pigs, and primates are generally used in animal testing — most of them for cosmetics testing. By promoting cruelty-free brands which don’t test on animals, you will be able to encourage the manufacturers that are making a real difference.
Helped along by several nonprofit organizations and cosmetics companies, Asia is adopting new technologies and alternative testing methods which can accelerate the end of animal testing. Taiwan and other Asian countries are expected to have the world’s largest cruelty-free cosmetics market in a few years.
Asia Leads the Way in Skincare Trends
Cosmetics sales in Asia are on the rise. Asia leads the way in 2018’s skincare trends by offering high-end traditional and organic beauty products which address urban pollution. It’s no longer a secret that the most impressive beauty products and trends in the past few years have come out from Asia. From bee venom serums and snail facials to BB and CC creams, China, Japan, Taiwan, Korea, and other Asian regions are known as the hotbed of innovation.
Time was when most buyers used to turn to the West while looking for the innovative products in the world of beauty. Today, all eyes are on Asian countries due to its exceptional growth. As per the report revealed by Euromonitor International, Asian brands are forecasted to account for 80% of global cosmetics revenue increase by 2019.
Cosmetic Regulations in Asia
Asia’s cosmetic regulations have experienced a series of significant changes in the past decade. Though there are diverse regulatory systems for each Asian country which may create confusion but they all have a common purpose of assuring that beauty product are safe and properly labelled. Therefore, it is really important for all cosmetics manufacturers, raw material suppliers, beauty experts, traders, and marketing companies to know the cosmetics regulatory differences among the major marketplaces in the Asia-Pacific region.
If you have a company in Australia, New Zealand or any other country which deals with Asian regions, you need to be aware of all the Asian cosmetic regulations. Your beauty products and their production & testing process must comply with these regulations. But, how will you make yourself aware of updated cosmetic regulations and beauty trends?
Keeping up with the current conditions for manufacturing, launching, selling and marketing beauty products across the Asian region is a challenge faced by most cosmetic brands both domestic and international. This is where International Beauty Shows or exhibitions come in. Cosmetic brands and beauty experts can make themselves aware of the latest cosmetics & beauty trends, branding strategy, and new cosmetics regulations by visiting such exhibitions.
Keeping that in mind, the Taiwan External Trade Development Council (TAITRA) is coming up with the B2B international beauty show in Taiwan where the latest beauty trends & cosmetic regulations will be revealed. Taiwan International Beauty Show will also organize the on-site workshop that will bridge the gap between speakers and the audience, providing new insights into how the cosmetics industry is shaping up for upcoming years.