Last month, CosmeticsDesign attended this year’s NYSCC Suppliers’ Day conference in New York City. As shared by the NYSCC, the 2023 expo, which took place on May 2-3, “attracted 10,362 registrants from 73 countries and 546 exhibiting companies covering over 100,000 net square feet of expo space.”
While walking the convention floor, we noted three trends dominating this year’s cosmetics and personal care beauty product manufacturing industries. Here are our most significant impressions and takeaways from the 2023 NYSCC Supplier’s Day show.
Digitization of ingredient traceability & ingredient transparency
Many companies are taking sustainability, which has become an industry standard, to the next level through recent technological advances in the cosmetics and personal beauty care spaces. Many consumers are better educated in ingredient sustainability than ever, thanks to the myriad of readily available online information.
As previously reported in a recent report from NIQ, “responsible sourcing is one of the most important sustainability concerns to 45% of consumers, and a further 24% of want brands to increase their use of ingredients produced in a sustainable way.”
To better meet this consumer demand, many manufacturers and suppliers to the cosmetics and PBC industries are now turning to digital solutions to make ingredient transparency and source information more accessible. For example, at this year’s show, global chemical producer BASF debuted its new digital technology Itz Traceable, which is a “blockchain-enabled traceability service that allows brands to take consumers instantly to the place of origin or perhaps the very tree from which their ingredients came,” placing “transparency and traceability at the consumers’ fingertips,” shared Kate Drummond, Head of Marketing, Personal Care North America at BASF.
Also, many companies are integrating QR codes on their product labels and packaging materials at the show with app integration so consumers can scan and navigate ingredient-sourcing information instantly and directly from their cell phones. As technological capabilities for data organization and dissemination continue to develop and advance, more brands will likely adopt some form of digital ingredient transparency soon.
Multifunctionality of ingredients & finished CPGs
Consumer good consumption continues to trend towards a more minimalist approach, reflected in the multifunctionality of manufacturing ingredients and the finished goods spaces. Cosmetics and personal beauty product consumers are steadily moving away from complicated, multi-step beauty routines requiring multiple products in favor of more streamlined and cost-effective options – a trend further reinforced by the current economic climate.
In the NYSCC Suppliers’ Day INDIE 360 Pavilion, CosmeticsDesign saw multiple products in the finished goods space designed with multifunctionality. For example, indie brand Madam Lamy exhibited its natural powdered deodorant, which has various applications, including use as both a body powder and dry shampoo.
Another brand exhibiting its product collection in the INDIE 360 Pavilion, Nicole Rivachi Brand, focused its product development on several products offering multifunctional consumer use. The collection includes the OH! Purpose Stick, a tinted cosmetic balm that can be used on lips, cheeks, and eyes, and Glasslip Lip Oil, a moisturizing product that can also be used as a lip gloss for makeup looks.
The multifunctional trend extended into the ingredient manufacturing space as well. Global ingredient manufacturer Sensient Technologies debuted several new products at this year’s show that feature multifunctionality as a formulation component, including Natpure XCo Choco, an upcycled chocolate extract and antioxidant designed for both sun care and self-tanning applications, as well as Natpure Feel PGD, which is described by company literature as “a smooth sensorial texturizer with a powdery skin feel affording shine for hair, makeup and skin care.”
The versatility of multifunctional ingredients and finished CPGs affords formulators and consumers the flexibility of a more streamlined end-to-end supply chain. Ingredients with multiple applications can make their way into more product formulations; this can benefit consumers with increased familiarity with these ingredients, who will be more attracted to product formulations they recognize.
As the year progresses, it is assumed that this trend will continue gaining momentum in cosmetics and personal care products.
Reformulation & re-release of hero ingredients
Conventions like NYSCC Suppliers’ Day typically see new launches and displays of ingredient innovation to drive the industry forward. Still, this year’s expo saw multiple companies re-examining their hero products and ingredients and announcing reformulations to better fit consumer needs. The COVID-19 pandemic afforded manufacturers and suppliers the time and resources to revisit existing product lines and, in some cases, invest in improving current formulations.
For example, in 2020, chemical corporation Symrise launched SymEffect Sun, a natural and sustainable ingredient to optimize the efficacy of sunscreen formulations. While successful, the company re-examined the formulation and announced a new ingredient called SymEffect UV at this year’s show, which builds on the original formulation but in a vegan composition for product applications.
While innovative and new ingredients will always be a priority in high demand for ingredient manufacturers and suppliers to the cosmetic and personal care product industries, the choice to reformulate or launch new ingredients based on or improve existing formulations is a relatively emergent trend.
By building off what is already successful, companies can leverage existing recognition of a product’s efficacy while expanding potential applications or appealing to new audiences. Therefore, it is reasonable to expect other brands to likely engage in this trend in the coming year.