Making APAC in-roads
Oat Cosmetics has appointed speciality chemical distribution company DCM Asia and cosmetics ingredient distributor Yallen Trading to build and manage its relationships in Malaysia, and Taiwan, respectively.
“Both Malaysia and Taiwan are important markets for the Asian cosmetics industry with a big demand for innovative natural ingredients,” said Cark Maunsell, Managing Director of Oat Cosmetics.
Its line of cosmetic and skin care items include its Oat COM item with anti-ageing properties; Oat Lipid, a premium oat oil that aims to regulate ceramides, while restoring and replenishing the skin; and Oat SILK, a sensory agent which provides a ‘Touch of Luxury’.
New naturals
Oat Cosmetics will also launch two new ingredients from its Bassett Botanicals range in the Malaysian and Taiwanese marketplaces. DermiVeil, a barley starch, that contains high oil and water absorption will be available, along with Virgin Poppy Seed Oil that is sourced sustainability and contains both sterols and Vitamin E.
The two distributors will manage the UK-based natural cosmetics provider’s portfolio in their respective countries. Oat Cosmetics’ product range, which contain natural and organic oat ingredients, have received Ecocert and COSMOS accreditation and approval.
“There is big demand for innovative natural ingredients and we are keenly aware of the incomparable potential of Oat ingredients which will lead the trend in Taiwan market...the innovation will bring users brand new and excellent experience,” commented Tony Huang, Managing Director of Yallen Trading.
“We feel the consumer in this market is showing a continual and growing interest for natural ingredients and Oat Cosmetics’ innovative products will be of real interest to the personal care and cosmetics market,” added Yau Kim Yan, General Manager at DCM Asia.
Market projections
In May 2017, market research company Euromonitor International released its latest reports on the beauty and personal care industries in Malaysia and Taiwan. It revealed that increasingly, colour cosmetics are teaming with skin care benefits to provide a multifunctional offering to price-conscious consumers.
Advancements in formulations are expected to continue to bolster growth, with opportunities available for mass-market brands such as Oat Cosmetics to enter and gain a healthy market share. Natural positioning remains a prominent strategic selling point for many brands in Malaysia as consumers demand products that are kind to their skin.
Taiwan also experienced solid value growth in 2016, with Korean beauty, celebrity and culture influencing the teenage demographic in Taiwan.
Product development, led by Korean beauty, is focusing on natural skin care and labelling, along with an emphasis on dermocosmetics to promote healthy skin.
However, value growth over the forecast period is expected to slow, due in part to the maturation of BB and CC creams and the dominant market share obtained by the country’s largest manufacturers - four of the country’s producers have a combined 54% share of the segment.