We had an email interview with OU Yi through PCHi Technology Summit. She is a CEO from Beauty Evolution that has been the most popular App where the most ingredient-centric consumers are gathered in China.
“The growth of ingredient-centric consumers has become the key trend of China cosmetic industry for years. The consumers want to know more about the ingredients for the reason to believe. It’s a big challenge as well as a huge opportunity for the whole industry.” She said.
Q. How about the trends of Ingredients market in globally? And what is the most popular ingredients these days?
A. The basic skincare functions like moisturizing and hydrating are not enough for the ingredient-centric consumers. They are digging and finding better performance skincare products to make themselves looking younger and more beautiful.
Anti-aging is the most popular ingredients trends for recent decades and recently even for the younger generation Z both in Asia and globally. ‘Tocopherol Acetate’ and ‘Retinyl Palmitate’ have been the key ingredients for anti-aging in consumers’ mind. While the Asian also pay more attention to the whitening. The ingredients like ‘niacinamide(Vitamin B3)’ and ‘ascorbic acid(Vitamin C)’ are very popular these years. Some brands try to combine the whitening and anti-aging to pursuit the consumers’ requirements.
Q. What is the trend keywords of ingredients market from Korea, China and Japan?
A. Korea : Herb extracts/ multiple ingredients and components
China : Rare herbs or traditional Chinese medicines proven to be efficacy and safety
Japan : Technology driven/ less is more/ more efficacy and safety
Q. What do you think about Korean ingredient market? And how about China and Japan?
A. About Korea, new ideas and new concepts are driving more new applications of ingredients. While the ingredient-centric consumers start to care not only the use of the ingredients but also the percentage they are used. In China, the intense competition should be paid more attention to the differentiation. In Japan, core ingredients should be proven to be efficacy to let more consumers accepted and understand them in the easiest way.
Q. Then, how can AI be applied to ingredients market?
A. AI technology like the skin test with photography technology, genetic skin test and personalized recommendation will make the consumers’ life easier to find the proper cosmetics for themselves. With the accumulated and deeply insight of their feedbacks, it will shorten the time to market and also will drive the cosmetic industry to be more innovated to satisfy the consumers’ need.
Q. What is the future plan of Beauty Evolution?
A. Beauty Evolution will continue to build the cosmetics platform for the consumers and the industry, help the consumers find the right and proper products suitable for their skins, as well as help the industry to produce much better cosmetics based on consumer insights.
At the end of the interview, she said. “The data drives the future for many industries, and for the whole cosmetics it will never be too late to embrace this big data era. Beauty Evolution will try our best to build the eco-system connecting both the consumers and the whole industry together with every role of this industry!”