Giant BASF: Set off a new round of revolution in the cosmetics raw material industry
With the improvement of the consumption level of cosmetics and the advancement of consumption concepts, consumers are increasingly pursuing the safety and efficacy of products. Safety and efficacy have gradually become the core criteria for consumers to purchase cosmetics, which has also promoted the gradual progress of the beauty market towards sustainability and environmental protection, while at the same time forcing upstream raw material manufacturers to keep up with market demand and innovate and upgrade.
As a result, the competition between upstream raw materials and raw materials for cosmetics has gradually begun. Xu Yafu, Business Director of BASF Personal Care Greater China, has a deep understanding of this.
He said: “Due to the influence of social media as the mainstream marketing environment, the process of brand building products has undergone tremendous changes, from the original product development and promotion to the social media channel-oriented product development, so the brand’s needs are obviously more Moving forward, we pay more and more attention to the content capabilities of upstream suppliers, and strive to find stronger data support on raw materials for our product positioning and promotion, which is the so-called function traceability."
In order to ensure the provision of competitive and innovative raw materials and gain an advantage in the raw material market, many raw material companies have begun to strengthen the R&D and innovation of raw materials.
BASF is one of the leaders.
From continuously strengthening the joint development of new products with customers, including consumer insights, market claims, technical support, and efficacy evaluations in Greater China and even the Asia-Pacific region, the main products this year are based on market hot demand and future trend insights For example, for photo-aging and sun protection, we mainly recommend UVA filters with excellent light stability and free radical protection-Uvinul® A Plus Granular.
It is understood that BASF is one of the global chemical giants and has a rich history of sunscreen development. Its core research directions are mainly in sunscreens, active ingredients and surfactants. The product line of personal care products includes almost all the raw material categories of personal care products. .
From passive to active
BASF launches customized solutions
China's personal care industry is flourishing and booming, and Greater China is an important market that BASF considers to drive business growth worldwide. In order to meet the growing demand for raw materials in the Chinese market, BASF has promoted the original raw materials to new customized services, and on the basis of ensuring supply, it has strengthened consumer research, product positioning, formulation development, etc., and carried out all-round cooperation.
At the same time, we are also working with major local customers to develop visual videos of key functional ingredients and formulas. At the same time, BASF also uses the digital platform D’litE 3™X mobile phone application to improve market response speed and create more targeted innovative products.
In addition, BASF has further strengthened its cooperation with emerging brands. Brands will provide professional services in basic research on the safety of raw materials and source claims, while actively researching the development paths and popular ingredients of emerging brands.
While staying close to the market, BASF has also strengthened local R&D and production to bring the R&D and innovation process closer to downstream customers, including investing in talent development, strengthening production capacity and R&D capabilities, and striving to form a domestic base that covers basic research, product development, and technical services. , Sales, marketing, production and other strong teams.
In 2019, BASF's new integrated base project in Guangdong with a total investment of US$10 billion (approximately RMB 70.3 billion) was officially launched in Zhanjiang, Guangdong. Up to now, BASF's Shanghai Innovation Park has a total investment of approximately 180 million Euros (approximately 1.393 billion RMB) and has more than 700 R&D personnel. The Shanghai Innovation Park has gradually become BASF's global and Asia-Pacific R&D hub.
The future raw material consumption trends in the eyes of BASF:
Green safety, differentiation is the key
As a runner on the fast-growing lane of the industry, as a leader in the raw material industry, BASF has also put forward its own judgment on the future development trend of the raw material industry.
BASF believes that in the next few years, with the improvement of environmental protection concepts, consumers will put forward higher demand for natural and plant raw materials and safety. Consumers in the European, American and Chinese markets tend to choose natural, safe and environmentally-friendly packaging. Skin care products. For the relatively saturated "natural claims" market, how to make differences is the focus of manufacturers and brand owners.
Secondly, functional ingredients such as sunscreen, whitening, anti-aging and anti-hair loss have become the keywords of consumers' hot searches. Consumers not only pay attention to the brand, but also pay attention to the source of raw materials, manufacturers, ingredients and proportions used by the brand. In the sunscreen market, the concept of sunscreen has been paid more and more attention by consumers, and the SPF index and PA index of sunscreen products, and the skin feel of the products have become the most concerned part of consumers. At the same time, environmentally friendly sunscreen products are also receiving more and more attention.
In addition, the cross-border medical beauty industry is showing a rapid development trend in the beauty industry. The medical aesthetics consumer group is getting younger and younger, and fast and effective products have become the first choice. Consumers' attention to high-efficiency and popular ingredients is still increasing.
Finally, products from the food and medicine industry (such as vitamins) are increasingly used in cosmetics. Vitamin A and its derivatives have become one of the hot spots in anti-aging products. Vitamin E and its derivatives, as antioxidants, have an important protective effect on the internal metabolism of tissues and free radical damage caused by external environmental stimulation.
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