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Functional Cosmetic Market is Expected to Cross USD 5.5 Billion by 2028 at a CAGR of 6.2% from 2022-2028; Demand for Cosmetic Products Enhancing Personal Appearance along with Health and Wellness Benefits to Boost Market Growth

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Westford USA, March 03, 2023 (GLOBE NEWSWIRE) — The functional cosmetic market has seen Europe emerge as the dominant player, closely followed by Asia Pacific. This can be attributed to a growing awareness of the benefits of ageless beauty, male grooming, and the growing pattern towards natural and organic products. The rise of digitalization has also played a significant role in boosting revenue across the market, from advertising to online sales. Organic products have particularly gained popularity due to their lack of side effects, resulting in a rapid increase in demand. This has opened up numerous opportunities for the market to expand and diversify its product offerings, catering to a wider range of consumers.

As per SkyQuest’s analysis, the organic skincare industry is forecasted to exhibit substantial growth in the coming years, with an estimated market value of more than USD 17.57 billion by 2028. This growth in the organic skincare industry is anticipated to impact the functional cosmetics market positively. In addition, the increasing consumer preference for organic and natural skincare products will likely fuel demand for functional cosmetics in the coming years.

Browse in-depth TOC on the “Functional Cosmetic Market”

  • Pages – 278
  • Tables – 107
  • Figures – 72

Functional cosmetics refer to skincare and beauty products that provide both aesthetic and functional benefits to improve skin health and address specific skin concerns. Unlike traditional cosmetics that cover up imperfections, functional cosmetics are designed to work on a deeper level, targeting specific skin concerns such as dryness, wrinkles, acne, and hyperpigmentation.

Prominent Players in Functional Cosmetic Market

  • Murad Inc.
  • Azelis
  • Lancer Skincare
  • Sinerga S.p.A.
  • Sollice Biotech
  • Perricone MD
  • Greentech
  • Alchemy Ingredients
  • Algosource
  • Adeka Corporation
  • Zuplex
  • Essencia AG
  • Dr. Brandt
  • Davos Life Science Pte Ltd.

Get a sample copy of this report:

https://skyquestt.com/sample-request/functional-cosmetic-market

Skincare Segment Turn Out to be the Key Revenue Contributor as Consumers Preferring Skincare Products with Natural and Organic Ingredients  

The skincare segment registered a higher revenue share for the functional cosmetic market in 2021 and is estimated to exhibit a high CAGR from 2022 to 2028. The global industry is experiencing a surge in demand due to the growing awareness of the benefits of skincare products. As a result, the skincare market is experiencing rapid growth, and according to a report by Skyquest, it is projected to reach USD 207.22 billion by 2028. This growth is expected to benefit the demand for functional cosmetics. Furthermore, the demand for functional cosmetics is predicted to continue to propel in the coming years as consumers become more knowledgeable about the benefits of using skincare products with active ingredients.

One region that has emerged as a major player in this market is Europe, which held the largest share of the functional cosmetic market in 2021. Skyquest’s research has revealed that the usage of beauty and personal care products is prevalent among 74% of consumers in Europe, irrespective of their age group. This statistic indicates that people strongly believe using such products is essential to maintaining good hygiene and overall health. Furthermore, the high adoption rate of beauty and personal care products in Europe suggests a promising growth potential for functional cosmetics in the region. With consumers placing great emphasis on the functionality of the products they use, there is a growing demand for cosmetic products that enhance one’s appearance and provide additional health benefits.

Browse summary of the report and Complete Table of Contents (ToC):

https://skyquestt.com/report/functional-cosmetic-market

Male Segment Emerges as the Fastest Growing End-Use Category Thanks to Changing Societal Attitudes towards Male Grooming and Personal Care

The male segment emerged as the promising category in the functional cosmetic market in 2021 and is projected to capture a substantial share from 2022 to 2028. The rise of the male segment in the market can be attributed to several factors. Firstly, changing societal norms have led to a greater emphasis on personal appearance and grooming for men. In addition, the availability of a wide range of specialized products has made it easier for men to find cosmetics that cater to their specific needs. From anti-aging creams to beard oils, a growing variety of functional cosmetics are designed for men’s unique skin and hair types.

Functional cosmetics have gained widespread popularity in recent years, and the Asia Pacific region has emerged as a prominent market for these products. As a result, the Asia Pacific region registered a high CAGR in the functional cosmetic market in 2021. Furthermore, according to a report by Skyquest, the per capita expenditure on household products in China has been on the rise. In 2021, this figure increased to USD 3,458, marking a significant increase of 12.5% from the previous year. This surge in household and personal care product spending points towards a positive outlook for functional cosmetics in the region. In addition, the region’s large population and diverse demographics have created a significant market for these products.

SkyQuest, the most trusted market research company, has recently published an extensive report on the functional cosmetic market. This in-depth report provides valuable insights into the industry, analyzing the market and its competitive landscape. Furthermore, the report offers detailed information on each player in the market, such as their market share, product portfolio, revenue, and recent developments. 

Speak to Analyst for your custom requirements:

https://skyquestt.com/speak-with-analyst/functional-cosmetic-market

Key Developments in Functional Cosmetic Market

  • Caldic, a company specializing in food ingredients, functional solutions, and specialty chemicals, has recently merged with Connell, allowing it to expand into the Asia-Pacific market. The merger will enable Caldic to broaden its product portfolio and strengthen its position in various industrial end markets, including personal care and pharmaceuticals. The company’s focus on specialty chemicals and functional solutions aligns well with Connell’s expertise in distributing specialty chemicals and ingredients across the Asia-Pacific region.
  • Ashland has launched a new natural bio-functional product called Sclareance through biotechnology to address dandruff effectively. This innovative product has been developed using artificial intelligence (AI) and is the second bio-functional product for scalp care introduced by Ashland. The product has been developed using advanced biotechnology processes and is specifically designed to provide effective and long-lasting relief from dandruff. The use of artificial intelligence has allowed Ashland to develop a bio-functional product that is not only effective but also safe and natural.
  • VAV Lipids, a biopharmaceutical company based in India, has announced its plan to expand its presence in Spain’s cosmetics industry by creating a pipeline of COSMOS-certified ingredients. These new ingredients will include high-quality phospholipid and lecithin-based functional cosmetic ingredients suitable for skincare and haircare products. With their versatility, safety, and compatibility, cosmetics manufacturers can incorporate them into all cosmetic formulations. Furthermore, COSMOS-certified ingredients ensure these cosmetic products are manufactured using environmentally sustainable practices.

Key Questions Answered in Functional Cosmetic Market Report

  • What are the key factors projected to bring substantial growth in the global market, and how do they compare regarding their potential impact?
  • Which regions are predicted to experience the highest levels of growth in the global market, and what specific factors contribute to this growth?
  • How are the leading industry players shaping the future outlook of the global market, and what strategies are they using to drive growth and maintain their market positions?
  • What are the most significant challenges facing the global market, and how are businesses and other stakeholders responding to these challenges?

Related Reports in SkyQuest’s Library:

Global Cosmetic Packaging Market

Global Teeth Whitening Market

Global Beauty Devices Market

Global Neurocosmetics Market

Global Essential Oils Market

About Us:

SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.

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Artificial Intelligence

JupiterOne and watchTowr announce partnership to protect business critical assets with broad exposure management capabilities

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SINGAPORE, May 2, 2024 /PRNewswire/ — watchTowr, a leader in external attack surface management (EASM) technology and fuelled by watchTowr Labs, a renowned vulnerability R&D capability, has formed a strategic partnership with JupiterOne. JupiterOne is a leader in cyber asset attack surface management (CAASM) technology. This collaboration enables customers to rapidly prioritize emerging threats within their constantly changing environments, focusing on fixing the most critical risks impacting their business, which enables an end-to-end continuous threat exposure management process (CTEM).

Over 28,000 CVE records were published in 2023; a figure that is expected to increase as attackers shorten the time from known vulnerability to exploit, reducing it from weeks to days. JupiterOne and watchTowr’s integrated solution empowers enterprises to discover their most critical and exploitable vulnerabilities, prioritize them with asset context based on business impact and receive an actionable remediation plan to improve security posture.
This partnership enables a complete continuous threat exposure management program, addressing the full spectrum of cyber risk management. The fully integrated solution provides continuous monitoring and assessment of both internal and external digital assets, allowing for prioritization and effective threat mitigation for a business’s most critical assets. “Our partnership with watchTowr is a game-changer” said Forte. “Combining our data aggregation with real-time asset discovery and automated security testing allows us to offer a unique, all-encompassing approach to exposure management.”
Benjamin Harris, CEO, watchTowr, said, “While the number of reported vulnerabilities continues to rise, the vulnerabilities that matter – in mission-critical, key systems – have exploded at an alarming rate. This reality, combined with the significant shift in speed by attackers to weaponize vulnerabilities – the ability to validate exploitability and prioritise actions based on real business risk has never been more vital. We’re excited to join forces with JupiterOne to give security teams around the globe this much-needed end-to-end capability.”
About JupiterOne:
JupiterOne is a cybersecurity startup delivering powerful software solutions to companies across all industries, providing deep insights to cyber assets and the relationships between, empowering security professionals to have true knowledge and ownership of their attack surfaces.
About watchTowr: 
watchTowr is a global cybersecurity technology company, built by former adversaries.
watchTowr’s world-class External Attack Surface Management and Continuous Automated Red Teaming technology is informed by years of experience compromising some of the world’s most targeted organisations and utilised by Fortune 500, financial services and critical infrastructure providers every day.
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Artificial Intelligence

Clarivate Declares Dividend on Mandatory Convertible Preferred Shares

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LONDON, May 1, 2024 /PRNewswire/ — Clarivate Plc (NYSE: CLVT; CLVT PR A) (“Clarivate”), a leading global provider of transformative intelligence, today announced that its board of directors declared a quarterly dividend of $1.3125 per share on its 5.25% Series A Mandatory Convertible Preferred Shares (the “Preferred Shares”), payable in cash on June 3, 2024 to shareholders of record at the close of business on May 15, 2024.

On the mandatory conversion date, which is scheduled to occur on June 3, 2024, each Preferred Share will automatically and mandatorily convert into a number of ordinary shares of Clarivate (and cash in lieu of any fractional ordinary shares) based on the average volume weighted average price (“VWAP”) of Clarivate’s ordinary shares over a 30-trading day period that begins on, and includes, April 18, 2024 and is scheduled to end on, and include, May 30, 2024 (the “valuation period”). If such VWAP is (i) greater than $31.20, then the mandatory conversion rate will be 3.2052 ordinary shares of Clarivate per Preferred Share, (ii) less than or equal to $31.20 but equal to or greater than $26.00, then the mandatory conversion rate will be a number of ordinary shares of Clarivate per Preferred Share equal to $100.00 divided by such VWAP and (iii) less than $26.00, then the mandatory conversion rate will be 3.8462 ordinary shares of Clarivate per Preferred Share. The mandatory conversion rate will be announced following the end of the valuation period. The above description of the terms of the Preferred Shares is not complete and is subject to, and qualified in its entirety by reference to, the “Statement of Rights” for the Preferred Shares, which is filed as Exhibit 3.2 to Clarivate’s annual report on Form 10-K for the fiscal year ended December 31, 2023.
Cautionary Note Regarding Forward-Looking Statements
This communication contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These statements, which express management’s current views concerning future business, events, trends, contingencies, financial performance, or financial condition, appear at various places in this communication and may use words like “aim,” “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “goal,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “see,” “seek,” “should,” “strategy,” “strive,” “target,” “will,” and “would” and similar expressions, and variations or negatives of these words. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on management’s current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. These forward-looking statements involve a number of risks and uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include those factors discussed under the caption “Risk Factors” in our annual report on Form 10-K, along with our other filings with the U.S. Securities and Exchange Commission (“SEC”). However, those factors should not be considered to be a complete statement of all potential risks and uncertainties. Additional risks and uncertainties not known to us or that we currently deem immaterial may also adversely affect our business operations. Forward-looking statements are based only on information currently available to our management and speak only as of the date of this communication. We do not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, except as otherwise required by securities and other applicable laws. Please consult our public filings with the SEC or on our website at www.clarivate.com.
About Clarivate
Clarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com.
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CGTN: 3rd CMG Forum in Beijing discusses AI development

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BEIJING, May 1, 2024 /PRNewswire/ — Focusing on the development of AI, the third CMG Forum was held on Monday in Beijing.

Li Shulei, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and the head of the Publicity Department of the CPC Central Committee, attended the opening of the event and delivered a speech.
Guests at the forum stressed the role of media in promoting the innovative application of AI as well as its governance.
Efforts should also be made to boost the development of AI in creating positive, healthy, diverse and high-quality content, so that AI can become a force for good and benefit mankind, they agreed.
They also called on media to accelerate intelligent transformation and help bridge international exchanges and cooperation on the governance of AI to facilitate its healthy, orderly and safe development.
Hosted by China Media Group (CMG), the forum attracted more than 200 participants from international organizations, media, think tanks and multinational companies.
“Innovation and breakthroughs in science and technology not only guide the development and progress of human civilization, but also bring uncertainty to the changing world,” said Shen Haixiong, vice minister of the Publicity Department of the CPC Central Committee and president of CMG. He called for efforts to jointly create valuable and responsible artificial intelligence.
AI technology is affecting every aspect of our lives. Thomas Bach, president of the International Olympic Committee (IOC), stated in a video speech that CMG has always been a partner of the IOC, bringing the charm of the Olympic Games to hundreds of millions of Chinese viewers. He said the IOC invites CMG to work together for the creation of a future with the application of AI in Olympic sports.
“From ancient inventions such as silk, printing and the compass to modern technological advances such as robotics, telecommunications and green technology, China has always been committed to innovation and creation,” said Daren Tang, director general of the World Intellectual Property Organization (WIPO). He said WIPO pays close attention to ensuring a balance between the opportunities and risks of artificial intelligence and is committed to strengthening cooperation to ensure that artificial intelligence is properly used.
https://news.cgtn.com/news/2024-04-30/3rd-CMG-Forum-in-Beijing-discusses-AI-development-1tdDcXvCexG/p.html

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