Record-breaking numbers at this year's Cosmopack and Cosmoprof Asia 2018, held in Hong Kong from November 13-16, are testament to the importance of the Asian market for the beauty and cosmetics industry.
The two exhibitions, focusing on the avant-garde supply chain and finished cosmetic goods, featured over 3,000 exhibitors and hosted more than 87,000 visitors both local and foreign. This marked a 4.2% increase from last year's event.
Eye-catching pavilions represented 24 countries from Asia and Europe, including first-timers Malaysia and New Zealand.
"This year's visitor numbers, fair exhibitors and products confirm what the global trends are telling us, that as an industry beauty and cosmetics are not only continually pushing the boundaries of innovation and science, but also that the Asia market is full of savvy consumers keen to understand and invest in cutting-edge products," said David Bondi, director, Cosmoprof Asia and senior vice-president, UBM Asia.
According to Statista, the Asia Pacific cosmetic market grew from US$98.5 billion in 2015 to US$120 billion in 2018, and is set to continue growing to about US$127 billion in 2020. The Asia Pacific region makes up the largest share of the beauty and personal market with 32% of sales worldwide.
Main trends spotlighted the growth of the Chinese beauty market, with presentations and panel discussions introducing overseas exhibitors and attendees to the world's largest consumer market. Most invaluably, the partnership between Tmall Global by Alibaba Group and Cosmoprof Asia offered business-matching sessions for in-depth insights on how to engage Chinese consumers.
Other major topics discussed included the trend of green beauty and eco-friendly products at the Natural & Organic Symposium. This year also saw the inclusion of a Halal cosmetics segment at the expo for the first time.
Showfloor highlights of AWE included "SKINTONIC - The Factory" at Cosmopack Asia and "SKINTONIC - The Shop" at Cosmoprof Asia, which together told two halves of the tale of product manufacturing, packaging and selling, showcasing the creation of a serum from raw ingredients to retail at a concept store of the future featuring virtual and augmented reality.
Next year's edition will run Cosmopack Asia from November 12 to 14 and Cosmoprof Asia from November 13 to 15.