Demand for plant-based products could create a potential $25.11 billion market by 2025, says Grand View Research. Helping a great deal, “A quarter of consumers report they are purchasing plant-based skincare today, and 39% say they would like to buy products with plant-based ingredients. With this type of demand, manufacturers are innovating to bring new plant-based beauty ingredients to market,” reports Linkage. In addition, they report, “The majority of skin care consumers – 72% – see their skin just like any other organ. Therefore, it’s no surprise that 50% of skin care consumers report seeking skin care products that are ‘all-natural’ and ‘free of synthetic chemicals.” Such demand is creating a substantial amount of opportunity for companies such as Better Plant Sciences Inc. (CSE:PLNT)(OTC:VEGGF), Ulta Beauty (NASDAQ:ULTA), Coty Inc. (NYSE:COTY), Amazon.com (NASDAQ:AMZN), and Estee Lauder Companies Inc. (NYSE:EL).
Look at Better Plant Sciences Inc. (CSE:PLNT)(OTC:VEGGF), for example
Better Plant Sciences Inc., a wellness company that makes and sells plant-based products, is ramping up production at its Victoria, BC production facility to fulfill incoming orders from seven Whole Foods Market in Ontario, Canada.
Earlier this year, Better Plant received notice that Whole Foods would be listing 14 of its Jusu Face products at seven of its Eastern Canadian Store locations starting this August. Three of the seven stores are in Toronto, with the others in Ottawa, Oakville, Mississauga, and Markham. Jusu Juices are also currently stocked at the Whole Foods Market in Victoria.
The order includes three face cleansers, four face creams, four face oils, two serums and one face mask. The deal was brokered by Better Plant’s broker partner, Thank You Merci.
“Our Jusu face products are a perfect fit for Whole Foods, and we are excited to grow our relationship with the store,” says Amber Allen, Head of Sales for Better Plant. “Whole Foods’ standards for beauty and body care products are extremely high and they have banned over 100 commonly used ingredients including parabens, phthalates, formaldehyde donors, oxybenzone and EDTA.”
Jusu products fit well with the trends predicted in ‘Whole Foods Market Predicts Clean Beauty Trends For 2021’, published by the Retailer’s Trends Council. One of the trends identified is “Juiced-Up Skincare”, which is aligned with Jusu as its skincare is formulated with densely nutritious ingredients that are healthy to consume and beneficial for the skin.
A recent online survey conducted by The Harris Poll on behalf of Whole Foods Market found that 85% of consumers who simplified their beauty routines over the past year plan to continue their new practices. Transparency remains as important as ever, too. More than half (57%) of consumers surveyed said they are interested in learning more about what ingredients are in the beauty products they are buying.
Other related developments from around the markets include:
Ulta Beauty announced that it plans to report its financial results for the first quarter ended May 1, 2021 on May 27, 2021, after the market closes. The Company will conduct a conference call to discuss its financial results on May 27, 2021 at 4:30 p.m. Eastern Time / 3:30 p.m. Central Time. The conference call will be hosted by Mary Dillon, chief executive officer, Dave Kimbell, president, and Scott Settersten, chief financial officer.
Coty Inc. announced continued improvement in its financial results and early evidence of recovery across its operations for the third quarter of fiscal year 2021, ended March 31, 2021. In Q3, revenues declined 3%, or 5.5% LFL, in a persisting COVID context in Europe and select regions. At the same time results were buoyed by +20% LFL growth in Asia Pacific, 30% growth in e-commerce, and a relatively stable performance in the Americas, including strong growth in U.S. prestige sales. Brands like Gucci, Burberry and Marc Jacobs were standouts, with double digit growth in the quarter, and Coty continued to build upon its newer prestige engines of growth in cosmetics and skincare. The 2% LFL growth in the prestige sales was noteworthy, given Coty's higher commercial weighting in Europe and the continued active reduction of sales in low quality channels, which represented a high single digit negative impact to the prestige sales in the last two years.
Amazon Web Services and the National Hockey League (NHL) announced they will debut two new advanced analytics during the 2021 Stanley Cup Playoffs. These new stats powered by AWS will appear as on-screen graphics and data visualizations during NHL games and give fans a better understanding and deeper appreciation of how their favorite players and teams perform during crucial moments. The first two stats, shot analytics and save analytics, will debut on Saturday, May 15, during the first day of the 2021 Stanley Cup Playoffs and be used throughout the 2021-22 season.
Estee Lauder Companies Inc. reported net sales of $3.86 billion for its third quarter ended March 31, 2021, an increase of 16% on a reported basis, and 13% in constant currency, from $3.35 billion in the prior-year period. Net sales grew in every region and in most product categories reflecting the recovery in several areas compared to the prior year where brick-and-mortar began to shut down as COVID-19 spread globally. The Company reported net earnings of $456 million, compared with a net loss of $(6) million in the prior-year period. Diluted net earnings per common share was $1.24, compared with a loss of $(.02) reported in the prior-year period. Excluding the benefit of currency translation, adjusted diluted earnings per common share, which excludes items detailed on page 3, increased 88%.
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