12.23.22
This past year has been one of innovation in the beauty industry. From customized beauty to the metaverse, there is one trend that has been on a slow and steady trajectory to grow exponentially in 2023.
Enter biotech beauty.
According to a market analysis report from Grand View Research, the global biotech ingredients market size was valued at $1.61 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 9.3% and reach $3.01 billion by 2027.
According to Lauren Otsuki, co-founder, executive vice president and chief innovation officer at indie brand Ourself, “biotech beauty is the convergence of the many technologies commonly used in biotech product discovery for the development of products in the skincare and beauty sector.”
She told Happi, “The leveraging of these technologies has been used to solve some of the toughest medical issues such as infertility, cardiovascular disease, gastrointestinal disease and cancer to create skincare formulations that can address stubborn skin concerns like hyperpigmentation, wrinkles and sagging is the beginning of a new era for skincare.”
Otsuki added, “Biotech beauty combines advances in biology and chemistry that allow us to develop and produce lab-made components for use in skincare/beauty products. The use of these technologies allows us to develop superior ingredients and molecules to use in skincare and cosmetic products for demonstrable results.
“Many traditional beauty companies only work with ingredients that are commercially available to create their products.At Ourself, we are able to leverage biotechnology to make new and custom ingredients to develop topical products that finally deliver on consumer expectations.”
For more on indie brands, look out for the January 2023 edition of Happi. To learn about the latest actives, see our recent article.
Enter biotech beauty.
According to a market analysis report from Grand View Research, the global biotech ingredients market size was valued at $1.61 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 9.3% and reach $3.01 billion by 2027.
According to Lauren Otsuki, co-founder, executive vice president and chief innovation officer at indie brand Ourself, “biotech beauty is the convergence of the many technologies commonly used in biotech product discovery for the development of products in the skincare and beauty sector.”
She told Happi, “The leveraging of these technologies has been used to solve some of the toughest medical issues such as infertility, cardiovascular disease, gastrointestinal disease and cancer to create skincare formulations that can address stubborn skin concerns like hyperpigmentation, wrinkles and sagging is the beginning of a new era for skincare.”
Otsuki added, “Biotech beauty combines advances in biology and chemistry that allow us to develop and produce lab-made components for use in skincare/beauty products. The use of these technologies allows us to develop superior ingredients and molecules to use in skincare and cosmetic products for demonstrable results.
“Many traditional beauty companies only work with ingredients that are commercially available to create their products.At Ourself, we are able to leverage biotechnology to make new and custom ingredients to develop topical products that finally deliver on consumer expectations.”
For more on indie brands, look out for the January 2023 edition of Happi. To learn about the latest actives, see our recent article.