Nutricosmetics Market Outlook
The emphasis on personal appearances has risen in the age of social media. With celebrities and other personalities of repute flaunting flawless skin regimes, consumers are willing to invest money to look ageless. Nutricosmetics are a blend of cosmetics and nutrition that aid in skin rejuvenation and nutrition. The intake can benefit hair, nails, and skin. The global nutricosmetics market report by Market Research Future (MRFR) contains drivers and restraints with an emphasis on opportunities which can be used to capitalize by interested investors.
The global nutricosmetics market is predicted to exhibit 5.33% CAGR from 2019 to 2024 (forecast period) to touch a value of USD 6.17 billion. Heavy spending on personal care and beauty products as well as importance of aging among female consumers can drive the market growth. Rising demand for clean label products which can ensure transparency as well as a list of recognizable ingredients can bode well for the market.
Introduction of innovative products with a high efficacy rate, implementation of clean label regulations, and high demand for nutricosmetics in the U.S. due to rising health consciousness of consumers are other factors which can influence the market. Beauty conscious urban populace and the rapidly growing elderly populace can accelerate the market volume considerably.
But the negative effects of nutricosmetics may hamper the market growth.
Competitive Outlook
Nature's Herbs Wellness, Nutrinelife, Alès Groupe, Inovacure, Functionallab Group, Church Dwight Co., Lonza Group, Koninklijke DSM N.V., Nutrilo GmbH, and Skinside A.G. are some of the major players in the nutricosmetics market.
Segmentation Analysis
The nutricosmetics market report is segmented by type, function, and distribution channel.
By type, it is segmented into beauty drinks, capsules and tablets, premixes, and others. Beauty drinks can gain traction in the market due to sales of anti-wrinkle drinks and beauty yogurts. The demand for ingestible products can drive the beauty drinks segment's growth. On the other hand, capsules and tablets containing omega-3 fatty acids and carotenoids are expected to bode well for the segment. Changing consumer dynamics can be attributed to market growth. Such capsules can prevent anti-inflammatory reactions and provide ample protection to the skin.
By function, it is segmented into nail care, hair care, oral care, skin care, and others.
By distribution channel, it is segmented into store-based and non-store-based.
Regional Analysis
Asia Pacific (APAC), Europe, North America, and Rest-of-the-World (RoW) are regions covered in the global nutricosmetics market report.
The Europe region is expected to dominate during the forecast period due to the large inclination of consumers towards new-age beauty and personal care products. It accounted for 39.24% of the nutricosmetics market share. The large elderly populace in Western Europe and the effective distribution network of pharmacies which can provide cosmetics to all consumers can drive the regional marker growth.
North America can capture a significant portion of the global nutricosmetics market due to the high purchasing power of consumers, penetration of e-commerce channels, and consumer preference for online shopping. Acceptance of herbal supplements in the U.S. as well as approval of new products due to changing beauty regimens can drive regional growth.
On the other hand, the APAC region is expected to exhibit a robust growth rate during the forecast timespan due to increased awareness of beauty products among women in India, China, and Japan. Another factor influencing regional nutricosmetics market trends is the growing elderly population.
Industry News
In 2019, Laboratoire PYC, a French company specializing in beauty drinks, has published a clinical study for its Pearl My Skin nutricosmetic formula deemed to lighten skin upon application. The company plans to launch the product in the APAC region to capitalize on the skin lightening trend.
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