RiceBran Technologies (NASDAQ: RIBT), a global leader in the production and marketing of value added products derived from rice bran, announced completion of the development of a series of new rice bran–based finished products targeting the personal care and nutricosmetics markets.
In collaboration with new and existing customers, the Company has developed its initial cosmetics and personal care product offerings using rice bran and derivatives produced in its USA Segment plants, as well as rice bran oil manufactured at its Irgovel facility in Pelotas, Brazil.
The new rice bran–based products, which include hand and skin creams, anti-aging serum, exfoliants, moisturizers and other products, were formulated at the Company's Healthy Natural facility in Irving, Texas. Healthy Natural's management team has extensive experience formulating and manufacturing natural products-based cosmetics and personal care products for the retail and direct-to-consumer markets, and has been developing products targeting the personal care and cosmetics markets for more than 20 years.
These new product offerings will be sold as private label finished products on a business-to-business basis. RiceBran Tehnologies is in active discussions with a number of potential partners to launch its products through a variety of distribution channels and expects the initial products to reach consumers in the fourth quarter of 2014 and the first quarter of 2015.
Mark McKnight, senior vice president of contract manufacturing at RiceBran Technologies, commented, "During the last decade, the natural products industry has seen nutritional ingredients rich in antioxidants and other micronutrients migrate into cosmetics and personal care formulas, creating an emerging nutricosmetics marketplace. Rice bran contains many high value ingredients, including gamma oryzanols, ceramides, vitamin E and UV absorbing compounds that help protect and maintain skin health by promoting hydration and elasticity. We see our newly launched rice bran–based products as a perfect fit for this multibillion-dollar market opportunity."
CEO and President W. John Short commented, "Rice bran has a long history of inclusion in beauty products in Japan and other Asian markets. In fact, one of the greatest compliments a Japanese woman can be given is to be called a ‘rice bran beauty’ or Nuka Bijin. When we made the decision to acquire Healthy Natural, we believed that the addition of superior formulation capabilities would not only further our market penetration in nutritional and functional foods but would also enable us to move into other high growth areas such as the nutricosmetics and personal care markets. With this launch, we are taking a major step forward in that direction. This represents a significant revenue growth opportunity for our Company in 2015 and for many years to come."