[Click eStock] "Seonjin Beauty, Expected Growth in US Cosmetics Market"

ResearchAl predicted on the 21st that Seonjin Beauty Science would benefit from the implementation of the Modernization of Cosmetics Regulation Act (MoCRA) in the United States.

Woo Hwirang, a researcher at ResearchAl, explained, "With the implementation of MoCRA, all companies selling cosmetics in the US must comply with GMP facility regulations and complete registration of all manufacturing, processing facilities, and product ingredients by the first half of next year."

He continued, "Seonjin Beauty Science has secured facilities that comply with GMP regulations and possesses the Janghang plant, which passed the US FDA on-site inspection flawlessly among domestic cosmetic ingredient companies," he added.

He emphasized, "Currently, no company in East Asia has passed the FDA on-site inspection flawlessly," and "Through its competitiveness, it supplies cosmetic ingredients to global cosmetic companies such as L'Or?al and Est?e Lauder."

Researcher Woo said, "In 2019, the FDA proposed safe and effective (GRASE) sunscreen ingredients," explaining, "The sunscreen ingredients recognized under the GRASE rule are inorganic materials such as zinc oxide and titanium dioxide." He emphasized, "The demand for inorganic sunscreen ingredients, which currently hold a relatively low market share, is expected to increase rapidly," and "Seonjin Beauty Science mainly produces zinc oxide and titanium dioxide."

It is estimated to achieve sales of 73.1 billion KRW and operating profit of 9.2 billion KRW this year, representing increases of 13.7% and 73.5%, respectively, compared to last year.