Investorideas.com releases a sector snapshot reporting on the continued growth being seen in the global skin and hair care market.
Reviv3 Procare Company (OTCQB:RVIV)
POINT ROBERTS, WASHINGTON, UNITED STATES, August 7, 2019 /EINPresswire.com/ — Plant Based and Organic Skin and Hair Treatment to Meet Demands (OTCQB: $RVIV) (NYSE: $EPC) (NYSE: $NUS) (CSE: $GGB.C)
Point Roberts WA, Delta BC – August 7, 2019 – Investorideas.com, a leading investor news resource covering wellness and cannabis stocks releases a sector snapshot reporting on the continued growth being seen in the global skin and hair care market as consumer awareness, demand for organic products, global temperatures and UV exposure all continue to rise.
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The hair care market is forecast to reach USD 116.33 billion by 2024, registering a CAGR of 3.35% during the forecast period (2019 – 2024).
A recent report showed that “the growing demand for organic/natural products for personal grooming has become one of the primary concerns for individuals. Among organic hair care products, owing to its wide usage, conditioners and shampoos held a majority share in the global organic haircare market in 2018. Furthermore, anti-dandruff organic hair oils are expected to register robust growth over the forecast period.”
Reviv3 Procare Company (OTCQB: RVIV), a company engaged in the manufacturing, marketing, sale and distribution of premium quality hair and skin care products under various trademarks and brands announced that it plans to launch multiple product sets of its plant-based products at Costco locations in the United Kingdom.
Donald Starace, President of REVIV3, said “As part of our international market expansion strategy, our customized product set offerings for Costco, UK will provide exposure to a market that until now has not been able to experience the amazing benefits we provide in hair and scalp health. It is our ultimate goal to be the primary destination for anyone looking for drug-free alternatives to improve follicle structural properties, nourish and rejuvenate hair.” Mr. Starace continued, “We believe the quality and effectiveness of our hair products is our most powerful marketing tool and the primary driver of our customer referrals and retention.”
The product lines for Costco, UK are planned for launch in September 2019 and will include a deep cleanser shampoo, moisturizing conditioner, hair follicle treatment, hair thickening spray and thermal protectant spray. The products are formulated with premium plant-based peptides and active botanicals formulated for safe and effective daily use.
Reviv3 is currently expanding its sales channels domestically and across the globe with customized product offerings in new markets. The recent expansions include agreements with Asian distribution partners for sale of Reviv3 products in TMALL.com and JD.COM as reported in the company’s press release on June 5, 2019. In conjunction, the company has continued to build on its operational efficiencies which according to Reviv3’s annual results on July 19,
resulted in a 16.8% decrease in operating expenses for FY2019, compared to the same period last year.
We are also seeing strings of acquisitions and mergers to help companies meet the increased need for larger distribution and production capabilities in this growing market.
Edgewell Personal Care Company (NYSE: EPC) and Harry's, Inc. announced in May that they entered into a definitive agreement under which Edgewell would combine with Harry's in a cash and stock transaction that values Harry's at $1.37 billion. The combination of Edgewell and Harry's brings together complementary capabilities to create a next-generation consumer products platform with an expansive runway for accelerated topline growth and enhanced value creation.
Nu Skin Enterprises, Inc. (NYSE: NUS) recently announced their estimated second-quarter results and updated its outlook for full-year 2019. The company anticipates reporting second-quarter revenue between $622 and $623 million and earnings per share of $0.82 to $0.84. The company's revised revenue outlook for 2019 is $2.48 to $2.52 billion with a negative foreign currency impact of approximately 4 percent, and earnings per share of $3.20 to $3.35.
"We are adjusting our guidance for the year primarily due to a reduced revenue outlook in Mainland China following the government's 100-day campaign to review and inspect the health products and direct selling industries," said Ritch Wood, Chief Executive Officer.
CBD is also playing an important role in these markets with companies such as Green Growth Brands Inc. (CSE: GGB) (OTC: GGBXF) who announced it has received a purchase order from American Eagle Outfitters, Inc. through which it will sell hemp-derived cannabidiol (CBD) infused personal care products in nearly 500 American Eagle (AE) stores and American Eagle Outfitters, Inc.’s online website.
Quality organic products are becoming a majority trend not just in the US and EU but also increasingly in every corner of the world. This increased awareness of product quality in the global consumer is forcing companies to adapt, which in turn is benefiting the consumer and their overall health and wellness.
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Source: EIN Presswire