Unveiling 2024 Global Cosmetic Ingredient Trends and 2024 In-Cosmetics Awards Forecast

A conversation with Seongmin (Mike) Sohn, General Manager & Principal Consultant,
REACH24H Consulting Group, Korea and long-time awards judge of in-cosmetics show

The beauty industry, a dynamic realm driven by innovation, sustainability, and consumer preferences, takes a giant leap forward with the revelations from the 2023 in-cosmetics awards winners. These groundbreaking trends not only redefine cosmetic formulations but also echo the industry’s commitment to eco-conscious practices, technological advancements, and personalized skincare.

EURO COSMETICS: What were the trends among winners of in-cosmetics awards last year?
Mike Sohn: The 2023 winners epitomized cutting-edge innovation. They showcased advanced actives, multifunctional ingredients, and a strong commitment to sustainability. Overall, the shift reflects an industry-wide drive toward science-backed formulations and eco-consciousness. Especially, more and more combination of multiple functions arise such as enhancement of texture with sensory experience or UV protection with sustainability features.

EURO COSMETICS: What’s the latest trend in beauty sustainability?
Mike Sohn: Upcycling: Turning Waste into Beauty. One of the winners introduced an ingredient
derived from upcycled rosewood essential oil distillation wood chips, this emulsifier enhances the texture and stability of cosmetic formulations by forming a stable oil-in-water emulsion, allowing efficient blending of oil-based and water-based ingredients. I think this approach to upcycling wood chips aligns with the industry’s sustainability goals, reflecting a broader shift towards reducing environmental impact and promoting circular economy practices.

EURO COSMETICS: There still seems to be a NATURAL trend in the market. How is it evolving in the Industry?
Mike Sohn: I would like to address this trend as a “Plant-Derived Alternatives”. The industry is improving some conventional product but from a different, a natural origin. For instance, a plant-derived hyaluronic acid offers intense hydration and supports skin elasticity by binding water molecules, ensuring effective skin plumping and moisturization. At the same time, some of the winners showed a more sustainable manufacturing process with higher quality hyaluronic acid sourced from natural origins, responding to consumers’ growing preference for natural ingredients and echoing the industry’s commitment to clean and green beauty. Also, a natural thicker and stabilizer actives shows a biodegradable formula which meets the needs for more environmental friendly, safe and sustainable in general.

EURO COSMETICS: What could be a mainstream of the latest ingredient trends among the winners?
Mike Sohn: I ’d definitely want to say, healthier skin. Microbiome-Friendly Ingredients would be
one of the examples. Supporting the skin’s microbiome, this ingredient promotes a balanced microbial community for enhanced skin barrier function. It contains beneficial microbial extracts that contribute to overall skin health by fostering a harmonious microbiome. It was very note-worthy that one of the winners showed plant cell cultures showcases a forward-thinking approach, meeting the industry’s focus on holistic skincare solutions for improved skin health.
Another issue for the protection of skin from urban stress, anti-pollution ingredients. Protecting the skin from pollution-induced damage, which one of the winners contains mandarin orange peel extract with antioxidant properties focus on urban skincare acknowledges and challenges posed by environmental pollutants, reflecting a growing concern among consumers living in an era of increasing urbanization. Then the Skin Barrier Repair function comes along. Strengthening the skin barrier and preventing moisture loss, this ingredient combines such as ceramides, peptides, and lipid-based components. This sort of multifunctional blend works together to support barrier health and resilience. Fortifying the skin barrier aligns with the industry’s focus on skincare solutions that enhance skin health.

EURO COSMETICS: Everyone is so focused on “Sustainability” in recent years. What changes have you seen last year?
Mike Sohn: First of all, Transparency and Traceability. Ensuring transparency in ingredient sourcing, this ingredient has a traceable supply chain that establishes transparency and
accountability. More companies’ commitment to a traceable supply chain builds trust with consumers, who are increasingly seeking transparency in product origins, reflecting an age where ethical choices and transparency resonate with values-driven consumers. And as mentioned, Ethical Sourcing is being strongly supported especially during the multi-regional wars are taking place and protective trade are becoming dominant in the globe. Prioritizing fair trade and community support, such ingredient emphasizes supplier reports and social responsibility initiatives. Beyond the formulation, the focus on ethical sourcing through supporting communities and ensuring fair trade practices resonates with conscious consumers. Socially responsible sourcing practices align with the industry’s growing commitment to social responsibility, addressing the ethical concerns of consumers and supporting sustainable
practices.
And as a last puzzle of sustainability, companies are studying on recycling and disposal ethics after use of the products. Recalling a biodegradable film-former, this creates a protective film on the skin and enhances product performance. The biodegradable nature aligns with eco-friendly
trends, offering a sustainable alternative in cosmetic formulations. Biodegradable ingredients
reduces the environmental impact of cosmetic products, contributing to sustainable beauty practices. If there’s a further movement for a new regulatory compliance for environmental effect, then this could be a major topic for the industry.

EURO COSMETICS: Which presentation was particularly interesting for you?
Mike Sohn: Personalization concept seemed to be interesting which it used to be considered as a finished product area. Adapting to individual skin needs, this idea that ingredient responds to varying conditions and provides customized benefits could be developed to a better customized
finished goods. The adaptability allows it to address diverse skin concerns, offering a personalized approach to skincare and catering to the unique preferences and needs of individual consumers. This part could also include consumer behavior, genomic data, ethics and skin characteristics.

EURO COSMETICS: What can you forecast about 2024 cosmetics ingredient trends and the winners?
Mike Sohn: I could pick 3 trends in 2024 personally,
– Ultra-Luxe Beauty: The truly affluent are willing to pay even more for ultra-luxury experiences. This trend transcends hospitality and fashion, and it’s making its way to beauty. Brands catering to this tier will need to deliver exceptional quality, exclusivity, and indulgence. There’s always a growing market for hyper-luxe consumer groups.
– Hybrid Cleansers: Cleansers are no longer an afterthought. They’re stepping into the spotlight, challenging serums. Co-wash creations, which combine cleansing and conditioning in one step, are gaining traction. These versatile formulations save time and cater to diverse skin needs.
– Peptides and Proteins: Peptides, critical for optimal skin function, are in the spotlight.
From collagen-stimulating messengers to neuropeptides that relax facial muscles, these ingredients offer tangible results. From a few years back, we see more and more of these peptides and protein ingredients combined with a enhanced penetration technology into the skin layer. Sustainability Certification: There are more options to prove your sustainable features
which consumers will be asking for more to prove your sustainability in a physical form.

Safety and regulatory compliance: Assuring your product safety with Alternative animal testing and new safety assessment approaches are coming to the global industry as it is essential for new ingredients to comply with multi-national regulations such as EU, China and elsewhere. This is becoming an important issue for the companies where it could limit the potential sales territory.

EURO COSMETICS: How do you assess the further development of the beauty industry?
Mike Sohn: The recent in-cosmetics awards winners paint a vivid picture of the beauty industry’s trajectory towards sustainability, innovation, and consumer-centric formulations. As these trends continue to shape the landscape, the intersection of technology, consumer behavior, and industry innovation will undoubtedly lead to even more exciting developments in the world of cosmetics. Embracing these trends not only aligns with the evolving preferences of today’s consumers but also propels the industry towards a future defined by responsible beauty practices.

EURO COSMETICS: Mike, thank you for speaking with us. We wish you a great show.