Industry News Flash #4 - Personal Care - August 7, 2024

⚡️ Personal Care Industry News Flash 🗞️ 

Ingredient Launch:

Shiloxome™ by Provital is the first ecosystem ingredient ever developed through Triplobiome™ Technology - a platform that uses plant endophytes to produce sustainable ingredients. Derived from Kwoniella mangroviensis yeast extracted from the bark of the cork oak (Quercus suber), this active ingredient has anti-pollution and anti-aging properties. Check it out on Covalo now!

Scientific Breakthrough:

After being approached by L'Oréal, Irish Material Scientists have been applying biomechanics to understand how split ends contribute to our bad hair days. They devised a machine that splits hair; the "Moving Loop Fatigue Machine". By recreating what happens when tangled hair is combed out, they've confirmed what many in the beauty industry have suspected all along: split ends are a result of our hair routines, like bleaching, curling, and combing (especially while wet). The next step is finding out exactly what parts of the microstructure separate, all in the hopes of developing products that prevent split ends.

Regulations & Compliance:

The recent FDA warning letter to Art of Beauty Company Inc. highlights the consequences of neglecting thorough ingredient testing and safety assessments. The company was cited for violations of good manufacturing practices, including the failure to control impurities in glycerin, underscoring the dangers of relying solely on suppliers' Certificates of Analysis (COA) without independent verification. This serves as a cautionary tale for all manufacturers about the importance of obtaining impurity data from suppliers and conducting internal testing to ensure product safety. On Covalo, impurity statement documents can be requested, and safety assessors can be found to assist in maintaining compliance.

Company Update:

After facing financial difficulties, The Body Shop has now been given a lifeline. They've signed an exclusive resume agreement with a consortium led by the Auréa group, according to Reuters. Founded by British cosmetics tycoon Mike Jatania, Auréa is an investment company that focuses on beauty and personal care products.

Sustainability Update:

Following consumer demand, sustainable products in the beauty and personal care industry grew at 10% CAGR from 2020 to 2023. Customers are looking for products that match their values, driving the popularity of claims like "natural", "vegan", "cruelty free" and "organic". Additionally, about 62% of beauty companies are investing in sustainable packaging, with compostable and FSC-certified packaging being amongst the most popular choices. 

Events & Tradeshows:

• As consumer awareness and regulations evolve, sustainability isn't just an option - it's the future of product innovation. Dive into groundbreaking insights and spark your creativity at the HomeCare & Beauty Sustainability Summit in Amsterdam, September 11-12. Secure your tickets here.
• Attracting over 10k visitors this year, in-cosmetics Korea showcased the latest beauty trends from Korea, Japan, and the clean beauty movement, all which are shaping global markets. This year's event also introduced the new "K-Beauty Standout Award", recognizing groundbreaking skincare and makeup products that have made a significant impact worldwide. The first recipient of this award was dsm-firmenich, honored for their innovative ingredient PENTAVITIN®.
• CosmoProf Las Vegas wrapped up its 21st edition last July, showcasing a diverse range of exhibitors and products that played a key role in the event's success. An exciting announcement added to the buzz: CosmoProf North America is set to launch "Beauty New York", a dedicated beauty event in New York City. This annual event will make its debut in October 2025.

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