During the pandemic, skincare companies saw a small downtick in growth which can be attributed to fewer people going outside, and thereby a decreased emphasis on exterior beauty. After all, the photo filters on phones do a great job of removing blemishes. However, with fewer masks and more face-to-face contact consumers are pouring money back into beauty.
The overall beauty market was up to $511B in 2021 from $483B in 2020 — and with an annual compounded growth rate of 4.75% worldwide — it’s predicted to exceed $716B by 2025. And $784.6B by 2027.
- Cosmetics is projected to grow from $90b to $118b (+32%)
- Skincare is projected to grow from $136b to $169b (+24.3%)
- Personal care is projected to grow from $226b to $268b (+18.7%)
- Fragrances is projected to grow from $53b to $60b (+13.7%)
SKINCARE FINANCIALS COMING THIS WEEK AND BEYOND
Investors are now ready to see how this growth has manifested in securities over the last quarter.
One sub-industry in skincare with a busy few weeks of reporting ahead is acne treatment. The global acne treatment market is projected to grow from $9.36 billion in 2022 to $12.97 billion by 2029, exhibiting a CAGR of 4.8% in forecast period (Forbes Business Insights). According to the National Center for Biotechnology Information (NCBI), the prevalence of acne affected 9.4% of the global population in 2021.
Herborium Group, Inc. (OTCMKTS: HBRM) CEO Dr. Agnes Olszewski noted in a recent interview ahead of her company’s 3rd quarter financials, “We see an uptick in 3rd quarter sales generally, and with the launch of our new platform this could be accelerated.” The company’s revenues have increased steadily over the past 4 years. This quarter, HBRM plans to launch its AI-powered diagnosis platform for e-commerce. Herborium offers Botanical Therapeutic ® remedies for acne the company tests its natural formulations with the same standards found in the pharmaceutical industry creating higher efficacy, proven safety, and consumer satisfaction.
HBRM’s AI solution for e-commerce is particularly intriguing considering the online share of the skincare market is predicted to surge to 48% in the United States by 2023. Learn more about HBRM here: https://topnewsguide.com/2022/08/04/herborium-group-otcmkts-hbrm-financials-trend-up-signaling-major-catalysts/
NovaBay Pharmaceuticals, Inc. (NYSE: NBY) with its two brands, Avenova® and DERMAdoctor® is set to announce second quarter results this week. NBY will report financial results for the three and six months ended June 30, 2022, after market close on Thursday, August 11, 2022 and will hold an investment community conference call that day beginning at 4:30 p.m. Eastern time.
Thursday will be a busy day for skincare financial reporting as Novan, Inc. (Nasdaq: NOVN), will report its second quarter 2022 financial results as well. NOVN is a medical dermatology company primarily focused on researching, developing, and commercializing innovative therapeutic products for skin diseases. Novan recently completed the acquisition of EPI Health and its robust commercial infrastructure across sales, marketing, and communications, as well as fully dedicated market access and pharmacy relation teams.
CLOUD-BASED TECH CHANGING THE BEAUTY INDUSTRY
We’ve noted that over the past six months, HBRM has accelerated its transformation from an Acne Treatment Company to become an interactive, AI-based platform for integrated product, content and expertise in the area or skincare. Regis Corporation (NYSE: RGS), a leader in the haircare industry, announced today the completion of the sale of Opensalon® Pro (OSP) to Zenoti, the leading technology provider for beauty, wellness, and fitness businesses. Zenoti will become the sole salon technology platform for all of Regis’ brands. With this relationship, Zenoti will help Regis deliver a modern, digital experience to drive engagement with its three million salon customers every month. Regis salons will begin transitioning to the Zenoti platform as early as July. Zenoti powers more than 20,000 beauty, wellness and fitness business in more than 50 countries with its comprehensive, cloud-based, mobile-led solution elevates the guest experience, unifies the brand, and streamlines operations.
Another beauty company shifting to digital delivery, Coty Inc. (NYSE: COTY), one of the world’s leading beauty companies and global leaders in fragrance, announced a “Global Travel Retail Joint Business Partnership” with Ant Group to enhance the cooperation in digitalization. The agreement will 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.
Investors looking for “beautiful” returns should look to these beauty stocks. Start your research on HBRM here: https://topnewsguide.com/2022/08/04/herborium-group-otcmkts-hbrm-financials-trend-up-signaling-major-catalysts/
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