Data Bridge Market Research analyzes that the European cosmetics market is expected to reach USD 81,537.16 million by 2029.1 There has been a significant increase in the number of new and organic cosmetic products launched in the past few years. Customers are increasingly finding it necessary to be aware of the ingredients and production methods of their favorite products2. Transparency in the production process, as well as a circular product lifespan, are essential for businesses to trade profitably in the cosmetics industry. Not later on, but right now!
There is, however, an insignificant relationship between promotional offers and consumers' purchase intentions for green skin care products. Even with this massive push from consumers to create a circular economy within the beauty industry, several challenges need to be addressed. In this blog, we will look more closely at the Green cosmetics business and Cellugy's role in redefining its direction.
As a general rule, the term green is used to describe something that uses environment-friendly formulations, production practices, or packaging methods3. As far as the personal care industry is concerned, cosmetics can be defined as ‘green’ if they are cruelty-free and produced with responsible use of non-renewable materials with the least impact on the environment.
According to Singapore-based AI-powered innovation intelligence platform PatSnap, Green cosmetics are a hot sub-market in the skincare industry, with new entrants spearheading the most exciting innovations. We at Cellugy place our ambitions at the core of such innovation.
“The future of the personal care industry goes towards biobased, biodegradable, and biofabricated ingredients.”
Isabel Alvarez-Martos, Co-Founder and CEO at Cellugy
Our product, EcoFLEXY, stands out over other sustainable alternatives in two ways – its production and the product itself. The production process is fermentation versus extraction from natural sources, such as plants. There is no need to cut down trees or harvest any other form of cellulose from plants that have a high energy demand, nor is there a requirement to use harsh chemicals to extract it. This makes EcoFLEXY a truly ‘green’ product.
When McKinsey asked beauty consumers about what aspects of sustainability matter most to them, the response that was repeated the most was:
“The absence of ingredients that harm the environment, 100% natural formulas, and production that is cruelty-free and does not test animals”
They also add later in their report on the beauty market in 2023 that more than half of the age groups among Millennials and Gen-Z are willing to pay more for beauty products from a sustainable brand.
L’Oreal took a headstart on the company’s journey to 100% eco-derived formulas last year while announcing a new investment in a venture led by Geno, a biotechnology company, to create sustainable alternatives to key ingredients in beauty products.4
Wish to stay profitable in the Personal Care industry? Go, sustainable!
“For big corporations, it is essential to have innovative start-ups like Cellugy come up with new groundbreaking technologies to accelerate our transformation into a sustainable future.”
Michael Stenderup, Vice President, Arla Foods
Fermentation, can be dated back to 10,000 B.C. in the Middle East and can be coined as civilization’s first biotechnological tool5. Cellugy uses this very pioneering tool to produce a cellulose ingredient in the most sustainable way available.
We are using sucrose as the base for fermentation, which produces pure biofabricated cellulose as an ingredient for various applications within the personal care/beauty industries. The process itself is energy efficient and does not require the use of any harsh chemicals. The final product, a.k.a. EcoFLEXY, is truly unique due to its bio-based nature, with properties that make it ideal for thickening personal care products at low dosages. With EcoFLEXY, we aim to revolutionize the personal care industry by helping companies reach their sustainability goals.
In-cosmetics Global was one of several other events where we have been received warmly by the organizers as well as the participants. The response we have received at events has been central to our belief that we are heading in the right direction.
“In-cosmetics was a huge success for Cellugy. It was the perfect platform to share our innovative ingredient with the personal care sector and foster relationships that will help us bring EcoFLEXY to the market.”
Clara Capparelli, Customer Engagement Coordinator
The backing of both peers and investors has remained consistent as well. EU's EIC Accelerator programme awarded Cellugy over 17 Million DKK in January 20216 for our efforts to bring EcoFLEXY from the lab to the market. Numerous others have acknowledged our development and are seeing our potential in the market. This can be seen in the success of various competitions and awards, such as the SDG Tech Awards, the Green Startup Cup, and the BASF Innovation Hub Nordics, just to mention a few.
The future of this industry is riding on the efforts of those reversing the global climate catastrophe. This includes everyone involved in the life cycle of cosmetic products, including manufacturers, distributors, regulators, and end consumers. More importantly, it all starts with the source, and this is where Cellugy is critical in its commitment to ensuring that we understand and grow as a truly green innovator. “However far a stream flows, it never forgets its origin”. Yoruba Proverb.6
References
Bhatia, D. M., & Chaudhary, S. (2022, July). Consumer behaviour towards green cosmetics: The literature signifying a shift towards circularity and sustainability. International Journal of Scientific Research in Engineering and Management, 06(07), 1-21. https://ijsrem.com/download/consumer-behaviour-towards-green-cosmetics-the-literature-signifying-a-shift-towards-circularity-and-sustainability/
Europe Cosmetics Market Report – Industry Trends and Forecast to 2029. (2021, December). Data Bridge Market Research. Retrieved August 9, 2023, from https://www.databridgemarketresearch.com/reports/europe-cosmetics-market
Fermentation: Humanity's Oldest Biotechnological Tool · Frontiers for Young Minds. (2021, October 18). Frontiers for Young Minds. Retrieved August 2, 2023, from https://kids.frontiersin.org/articles/10.3389/frym.2021.568656
L'Oreal. (2023, March 21). L'Oréal invests in biotechnology venture to scale development of plant-based ingredients for sustainable beauty. L'Oreal. Retrieved July 31, 2023, from https://www.loreal.com/en/press-release/research-and-innovation/l-oreal-invests-in-biotechnology-venture-to-scale-development-of-plant-based-ingredients/
Saudan, M. (2023, April 19). Trauma Release Inspired by African Traditions. LinkedIn. Retrieved August 07, 2023, from https://www.linkedin.com/pulse/trauma-release-inspired-african-traditions-michelle-saudan/
17 mio. kr. fra EU skal hjælpe med at bringe det bæredygtige plast-alternativ EcoFlexy på markedet. (2021, January 21). Central Denmark EU Office. Retrieved August 9, 2023, from https://centraldenmark.eu/17-mio-kr-fra-eu-skal-hjaelpe-med-at-bringe-det-baeredygtige-plast-alternativ-ecoflexy-paa-markedet/
