Algae-based cosmetic ingredient set to impact anti-aging market
to further consolidate its position within the rapidly growing
anti-ageing skin care market with the launch of its new
marine-based cosmetics ingredients range.
The company presented the line, named Homeosta-Sea, at the annual meeting of the society of cosmetic chemists in New York this month, following positive reactions from its debut at an Asian trade show earlier this year.
All the ingredients are sourced from the Atlantic Ocean, with the four active ingredients derived from Algae, and, according to a press release from the company, is said to counteract damage caused by the sun, pollution and premature aging.
The new line should cause yet more competition between large companies to be key players within the thriving anti-ageing market. Companies such as L'Oreal, Procter & Gamble (P&G) and Johnson & Johnson, are leading in the skin care industry in the US and Canada within the anti-ageing segment.
Charles Boulanger, President of Atrium's Active Ingredients & Specialty Chemicals Division expressed in a press release his desire for the company to continue to forge ahead as a market leader, suggesting that the new line of ingredients will help to develop this plan.
The company, based in Quebec, spent several months working with Océanova Biotechnologies to create the line that is specifically designed for use in cosmetic products that promote 'healthy and younger looking skin'.
According to the company, when the four Algae extracts are merged together their biological profiles combine to form an ingredient that acts effectively as anti-ageing product.
In 2005 Euromonitor International estimated that the total market for skin care products was valued at $38.3 billion globally, a figure that is second only to the hair care sector in size.
Anti-ageing products tend to focus on skin care, where anti-wrinkle cosmetics are now taking the market by storm. This is due to the growing consumer need by the now ageing baby boomer generation, the prime target for the anti-aging market due to their need for the appearance of youthful skin.
Currently the global anti-aging market is estimated to be worth approximately $50 billion dollars, a figure that is expected to hit $56 billion by 2007 - growth that many analysts believe will continue at break-neck speed in coming years.
