Cosmeceutical partnership to commercialise skin care range
cosmeceutical skin care range, part of a
six-month product development programme.
Alltracel said it collaborated in developing the line with a leading global commercialisation player in the cosmeceutical industry. Alltracel did not name the company. The two are focusing on developing the phytopeutics properties that relate to establishing an effective anti-ageing skin care product. The phytopeutics range of ingredients is derived from non-genetically modified cotton linters and uses a variety of technologies to aid specific skin care needs. "Phytopeutics provides a full range of dermal health solutions for all ages of skin. This co-funded development programme is for six months and involves three distinct phases," said Alltracel's chief executive officer Tony Richardson." The successful outcome will lead to a formal alliance between Alltracel and our partner who is a global leader in the functional skin care ingredient market with specific expertise in the final formulation of complex skin care products," Richardson continued. The co-funded partnership will allow Alltracel to further develop and research the collagen and elastin stimulation, moisurisation and skin hydration and anti-oxidation benefits of the range. The world's cosmeceuticals market estimated to be worth US$60bn, with a growth rate of 8 to 12 per cent. Developing research is a means by which companies can muscle into a very competitive industry with new products. In terms of the geographical market for cosmeceuticals, Japan is by far the biggest market, valued at $6bn to $8bn dollars. The US is estimated at around $5bn to $6bn, and the EU $3bn to $5bn. There is also a notable difference between genders. For women, the prime target is those who are 50-years plus. But in men it is the 25 to 34 age group that is showing the most interest in products for outward appearance - "single men on the run to find the right date".