Increased Adoption of Organic Products Driving Market Growth in Billion Dollar Cosmeceuticals Industry

PALM BEACH, Fla., Aug. 24, 2022 (GLOBE NEWSWIRE) -- FinancialNewsMedia.com News Commentary - 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. PBIO, Qurate Retail, Inc. QRTEA, Nu Skin Enterprises, Inc. NUS, Ulta Beauty, Inc. ULTA.

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. 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 on 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 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:

Qurate Retail, Inc. QRTEA News: QVC, a world leader in video commerce ("vCommerce") across linear TV, ecommerce sites, digital streaming and social platforms, and the Housewares Charity Foundation, the philanthropic arm of the home and housewares industry, have joined forces once again to present Living for Giving, a cross-platform shopping event to support Feeding America®. Following a successful campaign in 2021, the second annual Living for Giving features national name brand houseware products at discounted prices* and directs 70%** of the purchase price to benefit Feeding America's efforts to fight hunger through a network of food banks in communities across the U.S. Living for Giving is now live on all QVC TV, digital, streaming and social platforms and runs through October 28.

In 2021, Living for Giving generated more than $670,000 to support Feeding America, which helped to provide more than 6.7 million meals to families in need.

"Through Living for Giving, we're presenting our customers a meaningful opportunity to shop national brand home products for a great cause, at reduced prices," said Suzanne Quigley, Director of Corporate Responsibility and Community Affairs for Qurate Retail Group. "In collaboration with the Housewares Charity Foundation, the event combines the generosity of our incredible community of vendors with QVC's extensive vCommerce and digital reach to help raise awareness and funds for Feeding America and their mission to provide hunger-relief across the U.S."

Nu Skin Enterprises, Inc. NUS this month announced its board of directors has declared a quarterly cash dividend of $0.385 per share, which will be paid on Sept. 7, 2022, to shareholders of record on Aug. 26, 2022.

Nu Skin Enterprises is a global integrated beauty and wellness company, powered by a dynamic affiliate opportunity platform. The company helps people look, feel and live their best with products that combine the best of science, technology and nature. Backed by more than 35 years of scientific research, Nu Skin develops innovative products including Nu Skin® personal care, Pharmanex® nutrition and the ageLOC® anti-aging brand which includes an award-winning line of beauty device systems.

Ulta Beauty, Inc. ULTA, the nation's largest beauty retailer, recently announced the official launch of Prisma Ventures, a digital innovation fund set to invest $20 million in emerging technology startups that seek to shape future online and in-store experiences by unlocking new technology that fuels greater discovery, personalization, and convenience.

Ulta Beauty's digital innovation fund will shape the future of retail and light the way for tomorrow's visionaries and technology.

"Launching Prisma Ventures is yet another way Ulta Beauty innovatively leads and delivers forward-thinking retail experiences. We believe this fund presents opportunities for creative disruptors to further propel the industry forward," said Prama Bhatt, chief digital officer, Ulta Beauty. "We set out to build lasting relationships with startups, welcoming them into our ecosystem, co-creating and experimenting in ways that tap each other's expertise and ultimately leverage our resources to imagine – and reimagine – what's next for retail and beauty."

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