Global Cosmeceuticals Market Size Projected Reach $96 Billion By 2029 as Demand is Booming

FinancialNewsMedia.com News Commentary 

PALM BEACH, Fla., Aug. 24, 2022 /PRNewswire/ -- The demand for cosmeceutical products is growing globally due to the rising prevalence of skin and hair disorders, increasing elderly population, and increasing awareness of dermatological treatment. The increasing preference of the worldwide general population toward natural products is projected to continue to boost demand for cosmeceuticals. Increasing awareness about the benefits of natural ingredients over traditional ingredients over traditional products, including lesser side effects such as cracking of the skin and hair fall. Initiatives by major market players to improve awareness of organic products through various brand campaigns along with the increasing preference of dermatologists to prescribe natural alternatives such as organic products for skin and hair care are expected to augment the growth of the market. Additionally, the major players operating in the market are involved in the development of e-commerce platforms, such as Direct to Consumer (DTC) distribution channels, to cater to the rising demand, which is expected to support the growth of organic products. A report from Fortune Business Insights projected that the global cosmeceuticals market size was valued at USD 50.75 billion in 2021. The report said: "The market is projected to grow from USD 54.57 billion in 2022 to USD 96.23 billion by 2029, exhibiting a CAGR of 8.4% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a decline of -9.3% in 2020 compared to 2019." Active companies in the markets this week include: Pressure BioSciences, Inc. (OTCQB: PBIO), The Estée Lauder Companies Inc. (NYSE: EL), Coty Inc. (NYSE: COTY), The Beauty Health Company (NASDAQ:SKIN), Colgate-Palmolive (NYSE:CL).

Fortune Business Insights continued: "Cosmeceuticals are cosmetic formulations containing bioactive ingredients known for their medical benefits. The increase in prevalence of skin disorders around the world and the inclination of dermatologists toward prescribing these products as compared to other modes of treatment are responsible for the rising demand for these products. This, along with key market players launching e-commerce platforms to cater to the rising demand for these products, is anticipated to support the cosmeceuticals market growth. Strong emphasis on initiatives by government agencies and market players toward increasing the awareness of skin and hair health among the general population has led to a higher number of people using these products globally. Moreover, the development of active ingredients by market players is one of the key factors driving the adoption of these products in emerging and established economies. The increasing prevalence of skin disorders among adults and children alike is responsible for the increased demand for skincare products. This, along with the increased adoption of organic products globally, has encouraged various market players to develop novel formulations with a focus on developing active ingredients such as plant-based alternatives. The rise in product development, along with an upsurge of key product launches, is responsible for driving the market growth." 

Pressure BioSciences, Inc. (OTCQB: PBIO) BREAKING NEWS: Pressure BioSciences Secures Pivotal Cosmeceuticals Partnership for UST Platform with Dr. Denese SkinScience, 20-Year Leader with Over $0.5 Billion in QVC Sales - Collaborative UST-Driven Research and Development Agreement Announced with Dr. Adrienne Denese (QVC Icon, Skincare Visionary, Anti-Aging Pioneer, & Creator of Award-Winning SkinScience Labs) Targets Revolutionary Nanoemulsion-Driven Performance in New, Proprietary Skincare Products - Pressure BioSciences, a leader in the development and sale of broadly enabling, pressure-based instruments, consumables, and specialty testing services to the worldwide cosmetics, nutraceuticals, biotherapeutics, and food/beverage industries, among others, today announced the Company's agreement to team with science-driven skincare industry leader Dr. Adrienne Denese, M.D., Ph.D., the creator and President of Dr. Denese SkinScience – one of the most successful, highly rated, award winning, and longest lasting skincare lines in the history of QVC.

Under the two-year Collaborative Research and Development Agreement ("CRA") between PBI and Dr. Denese SkinScience, the two companies will prioritize specific skincare projects to pursue. Statements of Work ("SOW") will be developed, with approved budgets, timetables, and remuneration formulas for both companies. PBI and Dr. Denese have already agreed to focus on the use of PBI's unique Ultra Shear Technology™ ("UST™) nanoemulsification platform to enhance existing and develop new skincare products for Dr. Denese SkinScience. The UST platform's proven ability to process oil-based active ingredients (e.g., retinol, vitamins, anti-oxidants) into effectively water-soluble formulations is expected to offer more effective absorption, bio-availability, and therapeutic benefits to users of Dr. Denese SkinScience existing and new quality-leading skincare products.

Dr. Adrienne Denese commented: "Having achieved over $560 million in QVC sales over a 20-year period, I am very proud of our company's track record, my team, and the very loyal customer base that we have built under the Dr. Denese SkinScience brand. My mission has always been to develop and deliver the highest quality skincare products with life-changing effectiveness. Therefore, I could not be more excited at the prospect of teaming up with PBI and putting their UST platform's remarkable breakthrough in nanoemulsion effectiveness to work, in new generations of skincare products. I believe our partnership offers the opportunity to make new category-changing products that I have dreamed about, to enhance selected existing products, and to take these revolutionary new products to much greater heights and to many new customers through our existing QVC, e-commerce, and Amazon channels, as well as through our new Costco affiliation." 

Mr. Richard T. Schumacher, President and CEO of PBI, observed: "From 2019 - 2021, Dr. Denese averaged close to $20 million per year in total sales. In 2022, with help from new channel partner Costco, sales are expected to increase significantly. The launch of a new generation of products processed by PBI's patented UST platform, for the first-time ever in the cosmeceuticals area, is planned for 2023, which we expect to result in a very fulfilling and exciting year for Dr. Denese and her loyal customers – and for PBI!"

Mr. Schumacher concluded: "Although final determination of the order of development of these new and enhanced products is yet to be announced, both Dr. Denese SkinScience and PBI understand that these are potential game-changers in an industry whose 2021 global market size was estimated to be over $130 billion. We look at this partnership as an opportunity for multi-million dollar accretive revenue growth for both companies over the next two years, with the potential to dramatically enhance the growth trajectory and profitability of both Dr. Denese SkinScience and PBI for years to come." CONTINUED… Read this full release and more news for Pressure BioSciences at: https://www.financialnewsmedia.com/news-pbio/ Other recent developments in the markets include:

The Estée Lauder Companies Inc. (NYSE: EL) recently reported net sales of $17.74 billion for its fiscal year ended June 30, 2022, an increase of 9% from $16.22 billion in the prior-year period. Organic net sales increased 8%, driven by double-digit growth in The Americas and Europe, the Middle East & Africa ("EMEA") regions, largely reflecting a recovery in brick-and-mortar retail stores, as well as double-digit growth in global online² and growth in travel retail.

The Company reported net earnings of $2.39 billion, compared with net earnings of $2.87 billion in the prior-year period. Diluted net earnings per common share was $6.55, compared with $7.79 reported in the prior-year period. Excluding restructuring and other charges and adjustments as detailed on page 3, adjusted diluted net earnings per common share was $7.24, a 12% increase in constant currency.

Fabrizio Freda, President and Chief Executive Officer said, "We delivered excellent results in fiscal 2022, exceeding our expectations in the fourth quarter and achieving record revenue and profitability on an adjusted basis for the year. Our multiple engines of growth strategy proved invaluable amid pandemic and macro complexity, affording us the diversification to seize growth of the moment. The Americas and EMEA prospered, Fragrance soared, and Makeup realized the promise of its emerging renaissance.

Coty Inc. (NYSE: COTY), one of the world's leading beauty companies and global leaders in fragrance, recently has officially signed the Global Travel Retail Joint Business Partnership with Ant Group to enhance the cooperation in digitalization. The agreement means that Coty will be the first beauty company to reach the strategic partnership in travel retail to support digital platforms like Alipay and other digital payment methods at a global level through Alipay+, a suite of global cross-border mobile payments and marketing solutions operated by Ant Group.

Based on the partnership, Coty will continue expanding the travel retail business through the digital operation powered by Alipay+, by creating comprehensive and diversified brand campaigns via Alipay and other payment platforms, and offering more customized consumer experience with higher quality and efficiency. This strategic partnership will extend from China to a wider area of APAC, and furtherly to Coty's global travel retail market.

The Beauty Health Company (NASDAQ:SKIN) recently announced its flagship brand Hydrafacial will join the new wellness floor at Galeries Lafayette Haussmann, in partnership with the iconic department store's exclusive aesthetic clinic provider Innerskin. Set to formally open in September, La Wellness Galerie is reported to be Europe's largest dedicated wellness space.

"We are thrilled to partner with Innerskin to bring our breakthrough Hydrafacial technology to Galeries Lafayette, a true Paris institution. We are committed to offering Hydrafacial wherever consumers live, work and play, and Innerskin is the perfect partner to extend our amazing experience to La Wellness Galerie, an unmatched destination in all of Europe," said BeautyHealth President and Chief Executive Officer Andrew Stanleick. "Today, consumers increasingly blend the line between beauty and wellness, and Hydrafacial is there to meet them. Our confidence-boosting, glow-giving experience offers them a reason to come in-store and do other shopping at the same time."

Colgate-Palmolive (NYSE:CL) Chairman, President and CEO, Noel Wallace, recently announced that the Company will present on Wednesday, September 7, 2022 at 10:30 a.m. ET at the Barclays 2022 Global Consumer Staples Conference.

Investors may access a live webcast of this presentation and the presentation slides on Colgate's website at http://www.colgatepalmolive.com. For those unable to participate during the live webcast, a recorded version of the webcast will be made available through the Investor Center page of Colgate's website. Colgate-Palmolive Company is a caring, innovative growth company reimagining a healthier future for all people, their pets and our planet.

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