Kolmar Korea and Sensient Beauty to make new pigments for the global cosmetics market
Byung-Seok Moon, head of technology research at Kolmar Holdings (right), and Marianne Peltier, general manager of Sensient Beauty Asia (left) (Image credit: Kolmar Korea).29 Jul 2024 --- Kolmar Korea partners with Sensient Beauty to enter the global color cosmetics market. The companies signed a memorandum of understanding on “New Colorants and Ingredient Development” at its General Technology Center in Naegok-dong, South Korea.
The collaboration aims to accelerate Kolmar Korea’s efforts in the global market by leveraging the color cosmetic ingredient supplier’s experience and pigments. Sensient Beauty operates over 40 color research facilities worldwide.
The companies are developing various pigmented products that meet the demands of the global cosmetics market. Sensient Beauty will provide Kolmar Korea with new pigments that have yet to be introduced to the market, and Kolmar Korea will use them to develop products that match market trends.
Composing pigments
The multi-sensorial beauty and personal care ingredients company proposed the deal to Kolmar Korea due to its increasing overseas collaborations with indie cosmetics brands, which led to a growing demand for new and diverse colors.
Indie beauty brands tend to drive demand for new colors, as they are more likely to explore outside the box than traditional cosmetics brands. Independently owned and operated indie brands have also gained traction in the global market.
The companies will partner to create new and unique pigments.Moving forward, Kolmar Korea plans to develop new pigments and raw materials with Sensient Beauty to help its clients appeal to consumers.
Designing for global markets
The pigment supplier proposed the collaboration as part of Kolmar Korea’s growing influence in the global original design manufacturing market. The company designs and manufactures products that other companies eventually brand.
“As Kolmar Korea’s influence in the global market as an original design manufacturer continues to grow, the overseas expansion of indie brands collaborating with us is also on the rise. Consequently, the demand for new and diverse colors aimed at the global market is increasing,” says a Kolmar Korea representative.
According to beauty brand consultant Market Defense, K-beauty on Amazon was also noted as a strong trend on the online platform. Searches for “Korean skin care” are up 180% year-over-year, and K-beauty brand Biodance joined the Top 25.
Korean beauty trend
Kolmar Korea recently partnered with Amazon, the multinational e-commerce platform, to bring K-beauty brands to the global market. Last year’s sales of K-beauty products on Amazon’s global store increased by more than 75%, demonstrating K-beauty’s popularity.
Additionally, the Korean Wave (Hallyu) and K-beauty helped South Korea’s cosmetics exports hit an all-time high of US$4.82 billion in the first half of the year, marking an 18.1% increase compared to the same period last year. Major beauty businesses from the nation are showing an increased interest in global markets to diversify beyond China, while international markets crave more cosmetics from South Korea.
By Sabine Waldeck
