EZZ is focusing on an uptick in consumer demand for locally produced ethical beauty and personal care products.
Genomic-tech firm, EZZ Life Science Holdings (ASX:EZZ) is capitalising on a growth in the global ethical beauty and personal care market, with consumers caring more about origins of their products.
One study shows projected growth of vegan cosmetics will reach US$24.79 billion by 2028, with a CAGR of 6.57%.
Personal care and cosmetics products have experienced growth due to COVID-19, as consumer behaviours change to reflect a newfound priority for online retail and local, environmentally friendly products.
Supply chain issues and merchandise plagued with delays due to pressures on delivery networks and covid policies in a product’s country of origin has also made consumers more focused on local manufacturing.
EZZ focus on Australian certified organic ingredients
With delays expected for some time yet and producers experiencing higher supply chain costs from overseas ingredients, EZZ has become focused on a shift towards sustainable personal care products.
EZZ chairman Glenn Cross said the company had become committed to developing a line of products, such as the EZZ Hair Care Collection, that align with the general population’s mindset and use Australian and certified organic ingredients.
“While we are a life sciences company that is focused on improving people’s health, we also understand that part of the mission is also to look after our environment which can have a detrimental effect on people’s overall wellbeing,” Cross says.
“It was important for us to make sure that we not only use natural and organic ingredients as much as possible, but that we also use recyclable and environmentally friendly packaging when we can.”
The EZZ Hair Care Collection, to be launched this month, will consists of four products designed to solve hair issues faced by everyday Australians.
The collection includes Anti-Frizz Spray, Hair Mask, Hair Scalp Scrub and Hair Growth Spray and uses certified organic ingredients, which are vegan and are all manufactured in an Australian GMP facility.
The consumer-oriented life sciences company is focusing its genomic research and product development to isolate and unpack four key areas including:
- genetic longevity
- human papillomavirus (some 80% of sexually active adults have it)
- helicobacter pylori (a bacteria that grows in the digestive tract which causes stomach ulcers and increases risk of stomach cancers)
- weight management.
Cross said with a growing interest in understanding ingredients that go into personal care products, most of which are applied directly on to the skin or to hair, there has been a boom for ethical products featuring quality local ingredients.
Australia has passed legislation which bans the use of new animal test data for chemicals introduced into Australia for use as ingredients in cosmetics.
“We know that vegan and ethical products are no longer just a trend, it is becoming the norm, and it’s something that we want to see and fully support,” Cross says.
“Of course, being locally manufactured and using local ingredients also mean that we are less likely to be impacted by shipping delays or other restrictions.”
This article was developed in collaboration with EZZ Life Science Holdings, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.