The growing demand for wellness and health products with a rising rate of diseases has increased the demand for hand sanitizer market.
The demand for hand sanitizers seem to be ever increasing, with the global health crisis growing rapidly across the globe. With the outbreak of the global pandemic, the need for hand sanitizers has quadrupled and an increase in the overall growth of 16x from December 2019 to March 2020.
In addition to this, to prevent the infectious diseases, many people prefer hand sanitizers, further contributing to the growth of the market. Furthermore, an increase in awareness about personal hygiene among the people, driving the growth of the market.
As per the report published by Fior Markets, the global hand sanitizer market is expected to grow from USD 1.2 billion in 2019 to USD 2.14 billion by 2027, at a CARG of 7.5% during the forecast period 2019-2027.
The hand sanitizer market is witnessing the exponential growth from the past few years.
With the outbreak of global pandemic coronavirus in the year 2019, the sales of hand sanitizers swelled across every region in the world, which led to the shortage of hand sanitizers across the globe.
Active companies in the markets this week include: Pressure BioSciences, Inc., The Clorox Company, The Procter & Gamble Company, Coty Inc., Nu Skin Enterprises, Inc.
The FDA recently issued guidance in response to a number of queries from entities that are not currently licensed or registered drug manufacturers that would like to prepare alcohol-based hand sanitizers, either for public distribution or for their own internal use.
The Agency is issuing this guidance to communicate its policy for the temporary preparation of certain alcohol-based hand sanitizer products by firms that register their establishment with FDA as an over-the-counter (OTC) drug manufacturer, re-packager, or re-labeler to prepare alcohol-based hand sanitizers under the circumstances described in this guidance (“firms”) for the duration of the public health emergency declared by the Secretary of Health and Human Services (HHS) on January 31, 2020,4 including any renewals made by the HHS Secretary in accordance with section 319(a)(2) of the Public Health Service Act (PHS Act) (42 U.S.C. 247d(a)(2)).
At such time when the public health emergency is over, as declared by the Secretary, FDA intends to discontinue this enforcement discretion policy and withdraw this guidance. FDA is continually assessing the needs and circumstances related to this temporary policy, and as relevant needs and circumstances evolve, FDA intends to update, modify, or withdraw this policy as appropriate.
Pressure BioSciences, Inc. BREAKING NEWS: $3,500,000 Initial Order for FDA-Registered, Premium Hand Sanitizer Catapults SkinScience Labs, a Pending Accretive Acquisition of Pressure BioSciences, Into the Multi-Billion Dollar Hand Sanitizer Market
Pressure BioSciences today announced that its merger partner SkinScience Labs, Inc. has received an initial $3.5 million dollar order for its newly developed, premium, dermatological hand sanitizer product.
PBI announced plans on April 30, 2020 to acquire SkinScience Labs (SSL Acquisition), parent company of the award-winning Dr. Denese skin care and anti-aging product lines.
PBI’s rights to acquire SkinScience Labs, Inc. arise through its planned acquisition of Cannaworx, Inc., announced on April 29, 2020 (Cannaworx, Inc. Acquisition).
Adrienne Denese, M.D., Ph.D. (Cornell, Harvard) is an industry leader in scientific skin care breakthrough technologies.
As founder of the award-winning Dr. Denese SkinScience® product lines, it has been Dr. Denese’s mission in life to help women look and feel younger, and live healthier lives.
Her skin care and anti-aging product lines have consistently been top sellers on QVC, generating sales of about $18 million in 2019 and over $500 million since 2003 (https://drdenese.com).
Dr. Denese commented: “Our goal has always been to develop and supply the highest quality of personal care products expected by our very loyal customer base. Over the past few months, shortages of hand sanitizers have been reported by stores all over the US.
With SkinScience Labs’ nearly two decades of experience in formulation, manufacturing, and distribution, and my expertise and training as a scientist and physician, it became clear that we could become an important new part of the solution.
With particular focus on the adverse effects that the high alcohol content in typical hand sanitizers have on skin, we went back to the lab and formulated a premium quality, dermatologically driven hand sanitizer.
We recently made the decision to release this very effective, premium product to the market (Hand Sanitizer Launch).”
According to a 2019 report by Radiant Insights, the global hand sanitizer market was estimated to be $2.4 billion in 2017 and is anticipated to reach $5.5 billion by 2024.
Other recent developments in the markets include:
Nu Skin Enterprises, Inc. recently announced first-quarter 2020 results above guidance.
“The efforts and resiliency of our sales leaders and global teams helped us achieve revenue and earnings above guidance in the first quarter.
While COVID-19 continues to present significant challenges globally, we are grateful for the heroic efforts of healthcare workers, first responders and other essential workers around the world.
From a Nu Skin perspective, our entire organization has mobilized to protect the health and safety of our teams and ensure business continuity for our customers.
As a result, we have been able to maintain support for our sales leaders, leverage our supply chain to meet consumer demand for our products and utilize technology to facilitate remote work for both our sales leaders and employees,” said Ritch Wood, chief executive officer.
“Our first quarter results demonstrated continued stability in the Nu Skin business with strong customer activity.
More than 80 percent of our revenue comes through our digital properties which have been enhanced by our strategic investments in technology infrastructure and digital tools.
Additionally, our manufacturing and supply chain investments have enabled us to effectively manage inventory and fulfill customer orders worldwide through very challenging circumstances.
Our manufacturing segment performed well considering the supply chain disruptions related to certain ingredients and packaging materials due to the pandemic.
We generated solid cash flow during the quarter, increased our dividend for the 19th consecutive year and utilized our cash to repurchase shares in a way that we believe will benefit shareholders going forward,” continued Wood
The Clorox Company recently announced that its board of directors has declared a 5% increase in the quarterly dividend, from $1.06 to $1.11 per share on the company’s common stock.
The dividend is payable Aug. 14, 2020, to stockholders of record as of the close of business on July 29, 2020.
“We are pleased to raise our dividend by 5%, building on nearly 20 consecutive years of dividend increases.
As we continue to deliver healthy cash flows, our ongoing priority is to invest in business growth behind our IGNITE strategy.
We also remain committed to returning cash to stockholders,” said Chair and CEO Benno Dorer.
Clorox has a long history of providing value to its shareholders through regular dividend increases.
This also marks the 51st consecutive year Clorox has paid an annual dividend – ever since it became independent again following a decade of ownership by another company.
Coty Inc. recently announced the signing of a definitive agreement with KKR as part of a strategic transformation that will deleverage its balance sheet, streamline its operations and strengthen its leadership team.
Under the definitive agreement announced today, Coty and KKR have entered into a strategic transaction for Coty’s Professional and Retail Hair business, including the Wella, Clairol, OPI and ghd brands (together, “Wella”), valuing the businesses at $4.3 billion on a cash- and debt-free basis.
KKR will own 60% of this separately managed entity and Coty will own the remaining 40%.
As previously announced, KKR is investing $1 billion directly into Coty through the issuance of convertible preferred shares.
The Procter & Gamble Company (NYSE: PG) convened a virtual meeting with leading global NGOs to discuss the role of the beauty industry in accelerating progress towards a more sustainable, inclusive and resilient future.
Until now, the industry has responded to consumer concerns over safety, quality, origin and sustainability with an array of claims – such as natural, organic or clean – many of which lack clear definitions and standards and are sometimes at odds with one another.
The group made up of experts from various NGOs and Alex Keith, CEO, P&G Beauty, recognized that it is more vital than ever to look at these challenges as interconnected rather than individually.
For the industry to become future-fit and to build business resilience, the group concluded that it must address systemic challenges through collective action, leveraging the best of science and protecting nature by purposefully bringing the two together.
The event, co-hosted by Women’s Wear Daily, was attended by media representatives from around the world, and featured P&G Beauty CEO Alex Keith and the P&G Responsible Beauty Advisory Council, an advisory group created more than a year ago to ensure P&G Beauty priorities are well informed by the most innovative, leading-edge thinking and experience.
The Council is made up of representatives from Royal Botanic Gardens, Kew (a world leading authority on plant science); World Wildlife Fund (WWF); Rainforest Alliance; Skin Health Alliance; and the Roundtable on Sustainable Biomaterials.
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