Rockville, Jan. 18, 2023 (GLOBE NEWSWIRE) -- In 2023, the global nutricosmetics market is projected to achieve a US$ 5 Billion valuation. From 2023 – 2033, the market is set to register a moderate 5% CAGR to reach a valuation of US$ 8.2 Billion by the end of 2033.
As per Fact.MR, the Europe market is anticipated to generate around 40% of the global nutricosmetics market share in the next ten years. Growth is mainly attributed to changing consumer habits. Earlier, the European population was reported to be reluctant to use nutricosmetics. However, in recent years, experimentation with nutricosmetics has been steadily increasing as people pay more attention to personal care.
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Key Takeaways
- The Europe nutricosmetics market is anticipated to have a 40% share in the global market in 2022.
- Japan is expected to be the dominant nutricosmetics market in the Asia Pacific region during the forecast period.
- The U.S. is predicted to dominate the North America nutricosmetics market from 2023 – 2033.
- Skin care nutricosmetics are predicted to have a 50% market share by primary function segment.
- E-commerce is set to achieve a 40% share of the global nutricosmetics market during the forecast period by distribution channel.
Growth Drivers:
- Increasing public awareness of synthetic skincare products and their high potential of triggering adverse effects are set to propel growth.
- Ability of nutricosmetics to help combat the aging process, fight hair loss, and make the skin more radiant, moisturized, as well as supple would drive sales.
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Competitive Landscape
Key companies operating in the global nutricosmetics market are expected to witness fierce competition in the forecast period from 2023 – 2033. At present, some of the leading names in the global market include the likes of Nutrikosm, Amway, and Herbalife Nutrition Ltd. During the estimated time frame, nutricosmetics companies are predicted to add to their extensive product catalogs and also implement innovative marketing strategies to boost e-commerce sales.
For instance,
- In June 2021, Amway, Heinrich-Heine-University, and Leibniz Research Institute for Environmental Medicine published a review where carotenid ingestibles’ skin protection benefits were explored.
- In October 2020, Herbalife announced the extension of its global nutricosmetics footprint as its collagen product debuted in Malaysia.
Key Companies Profiled by Fact.MR
- Nutrikosm
- Shiseido Co. Ltd.
- Amway
- GNC Holdings Inc.
- KORA ORGANICS
- Fit & Glow Healthcare Private Limited
- Herbalife Nutrition Ltd.
- Blackmores Limited
- PurpleRock UTA Opco LLC
- GlaxoSmithKline PLC
- Suntory Holdings Limited
- Robinson Pharma Inc.
- Ashland Inc.
- Vitabiotics Company
The latest Fact.MR study goes into intricate details of the global nutricosmetics market for uncovering present and predicted future trends based on segments such as product, ingredient, primary function, distribution channel, and region. Through the study, emerging and leading players can benefit and formulate new competitive strategies for long-term success.
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More Valuable Insights on Nutricosmetics Market
In its latest research, Fact.MR reveals significant factors estimated to boost growth in the nutricosmetics market over the forecast period. The study also offers an in-depth study of the opportunities and growth drivers expected to propel sales of the nutricosmetics market through segmentation as follows:
By Product:
- Supplements
- Beauty Beverages/Drinks
By Ingredient:
- Carotenoids
- Vitamins
- Omega 3 Fatty Acids
- Others
By Primary Function:
- Skin Care
- Hair and Nail Care
- Weight Management
- Multifunctional
By Distribution Channel:
- Modern Trade
- Health and Beauty Stores
- Specialty Stores
- Pharmacy Stores
- E-commerce
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Questions Covered in the Nutricosmetics Market Report
- What is the estimated value of the nutricosmetics market for 2033?
- At what CAGR is the market for nutricosmetics expected to progress?
- Which factors are mainly boosting nutricosmetics sales?
- Which region accounts for the largest share of the global nutricosmetics market?
- Who are the top vendors of nutricosmetics across the globe?
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