Page 28 - HPIC E-Magazine (January-2021)

News from Abroad

MASSIVE MARKET POTENTIAL
Majority of US consumers receptive to products and

packaging made from plants: Study

New research from the Plant
Based Products Council (PBPC) has
shown that the majority of US con-
sumers are receptive to plant based
products and packaging, with 54%
viewing them favourably and 59%
expressing interest. According to the
report, the potential market size for
plant-based products is estimated to
be over 136 million US consumers.
The PBPC is a group of like-minded
organisations working to guide the
global economy toward more sustain-
able and responsible consumer pro-
ducts and packaging through greater
use of plant-based materials.

“There is clear consumer desire
to support and promote innovation in
the plant-based products and pack-
aging arena,” said Ms. Jessica Bow- (49 percent) also self-reporting as likely first things that come to mind for them
man, Executive Director of the Plant to recommend these products to others. are paper and food, followed less com-
Based Products Council. monly by clothing, bags, boxes, and con-
The data showed significant un- tainers. “This awareness gap signifies
In addition to being recep- tapped market potential with only 1 in 5 an opportunity for consumer education
tive, more than half (54 percent) of (22 percent) reporting strong familiarity not only to grow familiarity, but to in-
US consumers are likely to purchase with plant-based products and packag- crease awareness of the positive impact
plant-based products in the next ing. Additionally, when consumers see plant-based products and materials have
three months, with just less than half plant-based products and packaging, the on the environment,” the report noted.
EXPA NDING PRESENCE
L’Oréal bolsters Asian business with Takami

acquisition

French cosmetics giant, L’Oréal, the company that markets and dis- Bottle’ by Asian women. The brand
has agreed to acquire Takami Co., tributes Takami skincare products. achieved sales revenue of about €50-
a Japanese company specialising Dr. Hiroshi Takami, who operates two mn in 2019 and continues its growth
in premium skincare whose peeling eponymous dermatological clinics in this year despite difficult market con-
products are wildly popular in Asia, Tokyo, is the founder and owner of ditions due to COVID-19 impacts.
especially Japan and China. Finan- the Takami brand.
cial terms were not disclosed. L’Oréal also renewed a very long-
Takami is particularly famous for term brand licensing agreement with
L’Oréal acquired Takami from its iconic product, the ‘skin peel pre- Doctor Takami and signed a collabora-
Mr. Yuji Okamura, CEO of Brandlift, serum’, also called the ‘Little Blue tion contract with the Takami clinics.
28 Home, Personal & Institutional Care India January 2021