Teton Botanicals is pleased to be nominated for a Utah Innovation Award in the Natural Products Category.
A Selection Committee comprised of approximately 70 professionals from Utah’s business, technology and academic communities, all with technical and business experience pertaining to one of the program’s categories, carefully review the nominations during a three-week evaluation process.
For more information about the awards please visit: http://www.stoel.com/innovation/utah_intro.asp. Good luck to all nominees !!!
Summary of Teton Botanicals innovation
A new patented micro-encapsulation technology now being used to produce healthier foods has recently been adapted to produce hand, body and face lotion products of exceptional quality. Teton Botanicals lotions contain only high quality vegetable oil such as avocado or sunflower oil, water, essential oils extracted from plants, and an edible emulsifier.
Teton Botanicals Inc. was founded in 2010 with the objective to produce natural skin care products from simple, wholesome ingredients. Market research conducted the same year concluded that consumers’ top five criteria in selecting a hand, body, and face lotion are: feel, fragrance, effectiveness, composition, and price. The company has since developed products to meet customer’s expectations and its own objective to ”keep things simple”.
Teton Botanicals products are simple yet they absorb quickly and with no greasiness or stickiness common in most lotion products. The product cools the skin as it is applied without the use of alcohol found in many lotion products. An effective moisturizer must do two things. First it must deliver water to the skin, and second it must prevent water from escaping the skin. The micro-encapsulation technology used to produce the lotions enable a relatively high amount of water to be delivered to the skin, while the natural oils prevent water from leaving the skin. One application of Teton Botanicals lotion moisturizes the skin for hours without need to reapply.
Natural fragrances used by Teton Botanicals smell like the real thing because they are the real thing. No synthetic chemicals are used. The products have luxurious feel and refreshing natural fragrance yet the product are available at a price everyday consumers will enjoy.
In 2009 skin care was the largest single category by value in the global personal care market at 23%. The global market for skin care products is grown and by 2014 the global market for these products will be approximately $150 billion. (http://blog.euromonitor.com/2011/01/the-global-market-for-skin-care-products-.html). The natural skin care segment in the skin care industry however demand is growing rapidly around the world. This reflects a similar trend in the food industry where consumers are shifting to products with fewer ingredients and ingredients perceived to be more wholesome. Teton Botanicals estimates the current addressable market in North America at $2 billion and growing.
The skin care industry can be highly lucrative but it is also highly competitive. The market is dominated by traditional well recognized brands. As a fledgling company it is not possible for Teton Botanicals to compete against major brands. The natural products segment is also very competitive however Teton Botanicals offers a unique product unlike any other natural product. Test marketing in 2010 and subsequent repeat sales have proven that consumer acceptance for Teton Botanicals products is high and the product can outperform other products in the same category.
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