Skin Care Products Industry Benefits from Innovation in the Space and the Growing Awareness Among Consumers

Elements such as the scorching sun’s rays, pollution, changing weather, and more wreak havoc to the beautiful skin humans are blessed with. Therefore, skin care should be a top priority in our beauty regimen. For this, it becomes essential to use good skin care products for they treat the negative effects of the various external elements (such as those mentioned above) in a way that makes us love our skin even more. Examples of skin care products include cleansers, scrubs, toners, body lotions, moisturizers, sunscreens, anti-aging creams, eye creams, etc.

Currently, the skin care products market is witnessing a robust growth, owing to changing lifestyle patterns in emerging countries due to rapid urbanization, rising awareness towards skincare with advanced skin care products, and growing demand for skin care products. According to the research firm, Allied Market Research, the global skin care products market accrued a sum of $136,304 million in 2016 and is expected to reach $194,961 million by 2024, growing at a CAGR of 4.5% during the forecast period, 2014-2024.

A handful of companies in the field is coming up with new products and adopting strategies such as acquisitions to expand their share globally. A premium skincare brand called Ikkai was recently launched in India by Lotus Herbals, a leading natural beauty brand in India. Laboratoires Expanscience, a French pharmaceutical and cosmetics company acquired Babo Botanicals LLC, a New York-based skin care company. In October ‘18, Johnson & Johnson, a U.S. pharmaceutical company announced its plans to acquire Japan skincare brand Ci:z Holdings.

Ikkai by Lotus Herbals

In October ’18, Lotus Herbals introduced Ikkai, a premium organic skincare brand at the Lotus Makeup India Fashion week in New Delhi, India. A beauty brand for the youth, Ikkai offers some of the greatest organic skincare products in single-use packs. It comprises an array of happy beauty products that include organic face masks, soufflés, and scrubs. The whole innovative range of products is formulated using natural organic ingredients and enzymes such as acai berries, blueberries, papaya enzymes, orange extracts, lemon, carrot oil, walnut shell, and others. Ikkai products are known to be safe, preservative free, and help combat the effects of stress, pollution, and environmental change. They also help pamper and rejuvenate the skin. Nitin Passi, Director at Lotus Herbals said, “It has been our endeavor to provide the Indian consumer the finest natural care products since we launched Lotus Herbals in 1993. IKKAI is a premium organic skincare brand that caters to the emerging skincare needs of today’s millennials and contemporary women. We are confident that our range of organic face masks, scrubs and, souffléspackaged in one-time use packs will appeal immensely to our target consumer.”

Laboratoires Expanscience Buys Babo Botanicals

In October ’18, Laboratoires Expanscience bought Babo Botanicals LLC, a company founded in 2010 by Kate Solomon. The company offers a complete range of mineral and plant-based premium skin care, sun care, and hair care solutions for babies, children, and adults with sensitive skin. Containing botanical ingredients, Babo Botanicals’ formulations are certified by the Environmental Working Group and are meant for those are looking for reliable and authentic products to protect and nurture their babies’ skin. The terms of the deal were not disclosed. The acquisition is aimed at helping Expanscience bolster its presence in the baby and family category. With the acquisition, Expanscience gains a brand which is complementary to one of its own brands, Mustela, which specializes in skin care for babies and new mothers. The deal enables Mustela to expand its reach in international markets as well as to distributors and big retailers in the U.S. such as Whole Foods, where Babo Botanicals will be launching. According to Kate Solomon, being a part and parcel of Expanscience, which is renowned for its skills in developing safe and natural products and dedicated R&D and production center in France, is a great opportunity for Babo Botanicals to enhance the growth of the brand and its presence all over the world. According to Stanislas Baudry, General Manager of Expanscience North America said that they are excited to have Kate Solomon in her team as it is a great opportunity for both their Mustela and Babo Botanicals brands to develop operational synergies and share their complementary expertise in the U.S. market.

J&J to Buy Out Ci:z Holdings

Johnson & Johnson announced acquiring all the shares of Ci:z Holdings, which owns Dr.Ci: Labo, Labo Labo, Genomer skincare brands, and more. The acquisition allows J&J to fully capitalize on Ci:z’s large consumer base of the collagen gel and medical skin products. This is expected to strengthen J&J’s market presence in Japan as well as bolster its offering in science-based dermo cosmetic brands. According to Jorge Mesquita, worldwide chairman at Johnson & Johnson’s consumer division, the transaction is likely to enable value creation by facilitating an innovation model and accelerating sales via their company expertise.

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