Some 11,000 attendees were pre-registered to attend in-cosmetics Global 2023. REACH24H was present at this international fair and participated in several sessions to highlight both market and regulatory trends.

BARCELONA, 11 April 2023 – From March 28th to March 30th, 2023, the leading global event for personal care ingredients, in-cosmetics Global 2023, convened a multitude of professionals in the cosmetics industry in the stunning city of Barcelona.

REACH24H, a leading regulatory solutions provider, was present at the event and actively participated in multiple sessions. REACH24H Korea\’s General Manager for Korea, Seongmin(Mike) Sohn, was a featured guest speaker in multiple speaking sessions and served as a judge for the  2023 in-cosmetics Global Innovation Awards. With a wealth of experience in beauty, beauty devices, and pharmaceuticals, Mike has shared his valuable insights on the latest cosmetic market trends across China and Korea.

Sustainability Set to Lead the Fore at In-Cosmetics Global 2023

As the cosmetics industry continues to evolve, sustainability has emerged as a key concern for personal care and cosmetic ingredient suppliers. In line with this, the organizers of in-cosmetics Global 2023 arranged a panel discussion titled \”Consumer Trends: Three Approaches for Sustainable Success,\” inviting industry experts to explore integrating biodesign, sustainable beauty packaging and using waste materials to create sustainable products.

General Manager of REACH24H Korea, Mike Sohn (third from left), participating in the panel discussion

Mike Sohn was invited to participate in the panel discussion as a distinguished speaker, sharing his insights on how brands and manufacturers in Asia are aligning themselves with sustainability goals. He has been invited to similar talks in collaboration with experts from COSMED and IBA in another panel discussion on global cosmetic sustainability policies and regulations last December.

He emphasized during the discussion that the Asian market is adapting sustainability trends into the market with regulatory legislation driven by the government, such as carbon neutral policy or recycling Acts, and some of them are already implemented in China and Korea. For example, China has recently drafted carbon labeling for import goods and Korea enforced manufacturers and importers to distinguish packaging materials to label if it is confirmed to be “not good for recycling grade” from September 2021. He also noted that many industrial movements and changes are still led by authorities which makes it inevitable to link with relevant regulations.

Key Cosmetic Market Trends Across China and Korea

With his extensive knowledge of the Asian market, Mike was also able to provide valuable perspectives on the latest cosmetic market trends, allowing attendees to expand their perspectives on global cosmetic market trends in another speaking session. He started off his presentation by explaining how the Asian market is crucial for global players as China will become the biggest market in size within the next couple of years overtaking the US. He also assumed that many still might not be aware that South Korea is 3^rd biggest exporting country for cosmetics followed up by France and the US while 4^th exporting nation is Japan according to 2021 statistics by WTO.

Also, Mike has stated that China and Korea have their own distinctive features and unique trends of their own; consumer behavior, marketing tools, regulations, e-commerce platforms, etc. “Any brands plan to enter those markets should be able to analyze their products and to choose the most suitable marketing strategy and channels necessary,” he said.

In addition, Mike has served as a judge for the 2023 in-cosmetics Global Innovation Awards. He has been invited as a judge for consecutive years at the in-cosmetics ASIA and KOREA shows, respectively. This year, a new “Green Ingredient Award” was set to celebrate ingredients that make significant environmental or social differences in the industry, highlighting the importance of sustainability. Mike said, “Key trends for the ingredients seem to be shifted to sustainability, upcycling, clean beauty, recycling, eco-friendliness, etc.

REACH24H\’s involvement in the in-cosmetics Global 2023 event, following their participation in in-cosmetics Asia 2022, highlights the company\’s commitment to sharing its regulatory and market expertise with the global cosmetics industry. The company\’s presence at the event indicates that they aim to become a leading player in the regulatory solutions provider space for the cosmetics industry.

Stay tuned for Part 2 of REACH24H\’s involvement in in-cosmetics Global 2023, where regulatory topics are addressed.