China Association of Fragrance Flavor and Cosmetic Industry (CAFFCI) is an important cosmetic association in China. On its annual conference, experts and elites from global cosmetic filed are invited to discuss key issues in cosmetic industry especially circumstances in China. Internal discussion on cosmetic regulation and market trend can be derived from its conference. In 2017, Chemlinked attended CAFFCI Annual Conference and received following information:
- China's new ingredient market witnesses a high growth potential due to the upgrade of consumption, and the expert expected a value in excess of 10 billion dollars within the next several years. But at present, new ingredient management in China is strict. In order not to let regulation dampens the development of this market, the CAFFCI internal conference is discussing the revision of the new ingredient registration system. Implementation of risk assessment will be the direction of future regulatory developments. See more details:
- The director of technical and regulatory affairs of Cosmetic Europe, Gerald Renner gave a presentation on global cosmetic regulatory trends, in which he suggested unification of cosmetic management on a global level will benefit the development of the industry. The ultimate future for successful cosmetic companies is in the global market place rather than in confined national/regional markets. On the conference, he also concluded current global cosmetic legislation trend and suggested the success criteria for global unification of cosmetic management. See more details:
- A representative from Zhangjiang FDA, Xu Weihong outlined government plans to further optimize market surveillance and inspection of cosmetics. Currently, 2 of the most serious issues in China are: 1), illegal addition of pharmaceuticals to functional cosmetics, e.g. adding glucocorticoid to whitening products, adding metronidazole to anti-acne products; 2) the actual formula is different from registered formula, e.g. the hair dye product wasn't manufactured in line with approved specifications on filing/registration certificate. CFDA has earmarked these 2 areas as key targets in their industry reform plan. See more details:
- Statistic from GFK and Euromonitor of 2017 cosmetic industry presents an optimistic prospect of this industry in China. It is predicted an expansion of CNY 152 billion over the next 5 years. Multiple types of data are collected from the conference from which the future of China cosmetic industry can be predicted in three aspects: 1) market size; 2) consumption trend; 3) distribution trend. See more details:
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