“We live in a region that is changing constantly, from Japan to India… there are enormous opportunities for everybody in all sectors,” said Michael Duck, director of Cosmoprof Asia and executive vice president of UBM Asia.
“You’ve seen our shows grow from skin care and colour cosmetics, to salon equipment and spa and organics. I think we are seeing the beginnings of much more that could happen in the region.”
The trade show, held in Hong Kong, continued with its “1 Fair, 2 Venues” format, hosting both Cosmopack Asia at AsiaWorld-Expo and Cosmoprof Asia at Hong Kong Convention and Exhibition Centre.
Together, the events welcomed 3,030 exhibitors from 53 countries, a 5% increase since last year, to its combined exhibition area of around 113,800sqm.
Speaking at the press conference, Duck said there was a 7% increase in Asian companies participating this year at the show, with a substantial increase from Korea and Japan, which were up 12% and 28% respectively.
“These are signs that indicate the growing popularity and long-term sustainability of Cosmoprof Asia as a reference point for the beauty industry in APAC. The presence of 24 country and group pavilions once again confirms that significant markets across the world see Cosmoprof Asia as the year’s most eminent trade hub,” said Duck.
The show has not just expanded in terms of size but content as well. This year, Cosmoprof Asia debuted its inaugural Malaysian Halal Pavilion at the natural and organic zone, held with the support of the Malaysia External Trade Development Corporation (MATRADE), to showcase Halal cosmetics, which is a rapidly growing segment of the market.
“What we want is to promote Malaysia as a gateway into the Halal market,” said Ezzwanee Ahmad, trade commissioner and consul of MATRADE. “We are a known partner of Halal products and the government itself provides a complete Halal ecosystem in Malaysia.”
In addition, Cosmoprof Asia has partnered with Tmall Global of Alibaba Group for the first time to help international companies and brands access and thrive in the lucrative Chinese market.
On Nov 16, Tmall Gobal held the “Reach China’s Emerging Middle Class” seminar to share consumer insights into the demographic as well as strategies on engaging them. The company also hosted its talent-spotting business matching sessions, which identified potential brands to invite onto their platform.
Visitors to Cosmoprof Asia were also treated to Tmall Global’s New Retail concept store, which is powered by augmented reality to allow visitors to try on makeup with a virtual avatar. This showcase highlighted the future of retail, which blends the best of online and offline shopping to better serve consumers.
“Teaming up with Cosmoprof Asia, the region’s leading beauty expo, is a natural fit for Tmall Global, the pioneering cross-border e-commerce platform based in China,” said Qian Yi, deputy general manager of Tmall Global.
“The collaboration offers a great opportunity for all international brands keen to expand into China to learn about, explore and capitalise on the robust cross-border e-commerce channel,” said Duck.
Duck added that the Cosmoprof team sees huge opportunities for expansion in India, where it launched the first ever Cosmoprof India event this year.
The popularity and potential of Cosmoprof India is illustrated by Cosmoprof India’s social media activity. The three-day show garnered 15 million and its Facebook page reached 50,000 followers in six months.
“It has barely scratched the surface of an enormous market – 1.4 billion people in a market that is expanding rapidly, not because it’s becoming wealthier, but as it comes into a new market age,” said Duck. “For small and medium enterprises, it’s a fantastic opportunity to enter this particular market.”