Market Flash

On October 25th, 2023, the China leg of the China Overseas Talent Innovation and Entrepreneurship Competition will be held at the Nansha International Talent Port in Guangzhou.

• UmiCool

The petroleum and chemical markets have experienced significant fluctuations in recent days. After a sharp decline, there has been a slight respite as traders weigh supply and demand prospects.

• petroleum

According to the Food Standards Australia and New Zealand (FSANZ), on November 3, 2023, the Food Standards Australia and New Zealand issued Notice No. 268-23, which approved application No. A1267 to allow fructans from genetically modified Trichoderma.

• Processing Aid
• FSANZ
• modified Trichoderma reesei

According to Food Standards Australia and New Zealand (FSANZ), on November 3, 2023, Food Standards Australia and New Zealand issued Notice No. 268-23, which approved application No. A1250 to allow pullulanase from genetically modified Bacillus subtilis.

• FSANZ

Celanese Corporation, a global specialty materials and chemicals company, has announced the global commercial launch of two new polyamide solutions for manufacturers of electric vehicle (EV) powertrain components and EV battery applications.

• Celanese
• polyamide

On Nov. 9, 2023, Weidong China - the 19th China (International) Condiments and Food Ingredients Expo and the 2023 Guangzhou International Prepared Food Industry and Condiment Innovation Expo hosted by the China Condiments Association opened in Guangzhou.

• China Condiment Association
• The 19th China (International) Condiments and Food Ingredients Expo

Taiwan's Food and Drug Administration of the Ministry of Health and Welfare issued Wei Shi Shi Zi Announcement No. 1121901992, amending the "Food Additive Specification Inspection Method-Edible Blue No. 1" and it will take effect from now on.

• Taiwan's Food and Drug Administration
• Additive Ingredients

On November 10, the Nanbao carbon fiber new material production project was successfully signed and officially settled in Huai'an District, Huai'an City, Jiangsu Province, China, with a project investment of US$150 million.

• carbon fiber
• Nanpao

L’Oréal presented its latest tech-enabled offerings and partnerships at the sixth annual China International Import Expo (CIIE) in Shanghai, one of the world’s largest trade shows, with a record 18 beauty tech innovations spanning diagnostic and coaching.

• L’Oréal
• Science-based Formulation
• Decorative Cosmetic

Mountains of used plastic bottles get thrown away every day, but microbes could potentially tackle this problem. Now, researchers in ACS Central Science report that they’ve developed a plastic-eating E. coli that can efficiently turn polyethylene terephth

• Sustainability Natural Cosmetics
• Perfumes & Fragrences
• Perfumes & Fragrances

SCCS Gives Final Opinion on Fullerenes, Hydroxylated Fullerenes and Its Hydrated Forms The Scientific Committee on Consumer Safety (SCCS) gives a final opinion on Fullerenes, Hydroxylated Fullerenes and hydrated forms of Hydroxylated Fullerenes.

• SCCS
• Fullerenes
• Hydroxylated Fullerenes
• hydrated forms

Innomost unveils Betuinno™ Betulin, a sustainable and vegan ingredient ideal for replacing synthetic co-emulsifiers, preservatives, and antioxidants in cosmetics formulations.

• Sustainability Natural Cosmetics
• Cosmetics New Ingredients
• Cosmetics New Formulas

As of now, there are 10 CAR-T products that have been approved and launched globally, with 6 of them approved by the FDA.

• CAR-T

Since the approval of the first CAR-T (Chimeric Antigen Receptor T-cell) therapy in 2017, the market for CAR-T products has been expanding rapidly.

• CAR-T

On November 6th, AstraZeneca, Tencent Health, and Accenture jointly announced the launch of the NextGen Customer Engagement Platform at the 6th China International Import Expo.

• NextGen
• Tencent

China Yuxin group announced on November 8 that the company plans to invest in the construction of a project with an annual output of 1,500 tons of copper-based catalysts and 300 tons of precious metal catalysts.

• copper based catalyst
• precious metal catalysts

On November 6, 2023, a stakeholder roundtable meeting organized by the Food and Agriculture Organization of the United Nations (FAO) and the China National Center for Food Safety Risk Assessment (CFSA) was held in Shanghai, China.

• precision fermentation
• FAO
• novel food
• cell-based meat

Livsmedelsverket’s (the Swedish Food Agency's) sampling of pesticide residues in food during 2021 has shown that, similarly to previous years, the majority of foods tested did not contain pesticides that exceed EU maximum residue limits (MRLs).

• Livsmedelsverket
• pesticides in foods
• food safety

In a significant development, a federal appeals court has overturned the U.S. Environmental Protection Agency's (EPA) 2021 ban on the pesticide chlorpyrifos in food crops.

• pesticides in food
• chlorpyrifos
• EPA

Olaplex, the renowned hair care brand, has encountered another quarter of declining sales in 2023, marking a consecutive trend. Q3 sales plummeted by 30%, amounting to $123.6 million, accompanied by a substantial drop in net income by 66.4% .

• cosmetics companies
• cosmetics ingredients