Clariant and Plant Advanced Technologies announce strategic partnership to revolutionize the cosmetics industry

ZURICH: Clariant AG, a Swiss specialty chemicals company, entered into a partnership with Plant Advanced Technologies (PAT), a French cosmetics ingredients maker. The collaboration includes the subscription of approximately 10% equity shares of PAT by Clariant. Plant Advanced Technologies develops powerful and exclusive plant-based active ingredients for cosmetics using its highly sustainable and cutting-edge technologies. Therefore, this strategic partnership will combine PAT’s research assets in discovering and creating precious compounds from plant roots with the marketing and sales expertise of Clariant’s active ingredients business.

One of the members of the Executive Committee at Clariant, stated that, “We are excited to further improve our offer to the Personal Care market through this new investment that reflects Clariant’s on-going commitment to a more sustainable industry. The partnership with PAT drives this commitment further and will provide to our customers with best choices in the field of Active Ingredients”.

President of PAT said “We are delighted to join our forces with Clariant, one of the leading providers of active ingredients for the cosmetic industry. Thanks to their vision, expertise and knowledge, we will bring together new outstanding possibilities to the cosmetic market in terms of naturality, innovation and performance. PAT has always been specialized in sourcing unsourceable rare active plant compounds in a sustainable innovative way and is very enthusiastic to establish such a strong partnership based on these common values.”

According to TechSci Research, the partnership of Clariant AG and Plant Advanced Technologies would allow both the companies to work collectively to develop new premium products that will be marketed through Clariant’s global network. Additionally, this move would also enable both the companies to leverage their expertise and to strengthen their market position. Plant Advanced Technologies (PAT) is well-known for its milking technology by which the ingredients are obtained from plant roots numerous times a year without even destroying the plant. The strategic partnership will strengthen the capacity to serve the customers with the most innovative and market-relevant active ingredients.

According to the report published by TechSci Research, “Global Cosmetic Pigments Market, By Elemental Composition (Organic Pigments and Inorganic Pigments), By Type (Special Effect Pigments, Surface Treated Pigments, Nano Pigments and Natural Colorants), By Application (Facial Makeup, Eye Makeup, Lip Products, Nail Products, Hair Colour Products, Special Effect & Special Purpose Products and Others), By Company and By Geography, Forecast & Opportunities, 2023”, the global cosmetic pigments market is expected to reach USD 790 million by 2023, owing to the growing demand for pigments in cosmetics and personal care.  Moreover, the easy availability of cosmetics across the globe along with the increase in disposable incomes and improvement in the lifestyle in emerging economies is expected to further propel the growth of the market. Based on application, facial makeup segment occupies the largest market share and is expected to maintain its position over the next five years, owing to the growing demand for base makeup products like foundations and concealers for a variety of skin tones. Asia-Pacific region is projected to grow at the highest CAGR during the forecast period due to easy availability of raw-materials, low manufacturing costs and growing middle class population in major economies like South Korea, India, China, etc.

According to another report published by TechSci Research, “India Herbals Products Market, By Category (Personal Care & Cosmetics and Healthcare), By Distribution Channel (Traditional & Departmental Stores, Supermarkets/Hypermarkets, Online, and Others), By Region, Competition, Forecast & Opportunities, 2024,” the India herbal products market is projected to grow at a CAGR of 18% during 2019 - 2024. The herbal products market in India is growing due to the rising awareness about the side effects of chemical formulations and health benefits of herbal supplements over artificial ones. Moreover, in India, the consumer preference is shifting towards safe, natural and luxurious products due to increasing disposable income and rising popularity of plant-based ingredients.