New York, US, March 22, 2023 (GLOBE NEWSWIRE) -- Nutricosmetics Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), Nutricosmetics Market Research Report: Information by Product, End-Use, Distribution Channel, and Region —Forecast till 2028, Nutricosmetics market size is projected to register a CAGR of 6.45% and reach a value of USD 6.51 billion by 2028.
Market Scope:
A combination of nutrition and cosmetics known as nutricosmetics promotes protection and regeneration. The focus of nutricosmetics is on the skin, hair, and nails in order to provide benefits for healthy aging and beauty. In addition to being wellness products that enhance the effects of conventional cosmetics, nutricosmetics are also viewed as the best nutritional complement for a well-balanced diet and a generally healthy lifestyle. These nutricosmetics are ideal for daily use, and the beauty routines they support provide noticeable effects like silkier, more brilliant hair, healthy skin, etc.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 6.51 billion |
| CAGR | 6.45% |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2021 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Product, End-Use, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rising consumer awareness regarding skin and hair problems |
| Increasing demand for nutricosmetics in developed nations |
Competitive Dynamics:
The market comprises tier-1, tier-2, and local players. The tier-1 and tier-2 players have a global reach and diverse product portfolios. Prominent players in the global nutricosmetics market include
- ACM (France),
- Forza Industries Ltd (UK),
- Vitabiotics Ltd (UK),
- D-LAB Nutricosmetics (UK),
- Skinade (England),
- Amway (UK),
- Natrol, LLC (US),
- De SOS Hair Care (UK),
- WR Group (US),
- Pfizer, Inc. (US),
- Herbalife International of America, Inc. (US),
- Cantabria Labs (Spain),
- Blackmores (Australia),
- GNC Holdings, Llc (US),
- Kora Organics (Australia),
- Fit & Glow Health Care Pvt Ltd. (India)
Market USP:
Market Drivers
The market for nutricosmetics is primarily driven by rising health and wellness consciousness among consumers, who are choosing high-quality products to obtain healthy skin and toned muscles. This greater understanding of health and wellbeing led consumers to experiment with wellness alternatives to conventional medical treatments, creating the groundwork for the nutricosmetics market's expansion. Healthy aging is a notion that refers to everyone's capacity to lead a safe, secure, and healthy existence, regardless of their age. Nutricosmetics support healthy aging by fostering internal attractiveness, improved body function, and skin health.
Beauty goods have traditionally been marketed to women. But because of the shifting market conditions and the emphasis on appearance, regardless of gender, many men are choosing beauty or grooming items. Together with anti-hair loss and skincare, the main need for beauty products among men is to lessen the visible signs of aging. Because to the scant amount of research that has been done in this field, nutricosmetics is not yet a dominant sector in the market for men's grooming products. Market participants now have a rare chance to add men's nutricosmetics to their product lines and start advertising efforts to raise awareness.
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Market Restraints
Unlike conventional topical cosmetics that are applied to particular body regions, nutritional cosmetics enhance the general health of the skin and hair. Topical cosmetic products have an instant effect because they are applied directly to the skin. Unfortunately, nutricosmetics take a while to start working, which has left consumers uncertain about how effective they are. The high level of customer demand for quick results is a hindrance to the demand for nutricosmetics. Also, the greater costs of nutricosmetics have an effect on consumers' purchasing choices. Consumers are put off by slow effects and significant expenditure, so they choose topical cosmetics instead, which offer immediate but short-term results. The preference for economic solutions among price-sensitive consumers in developing nations slows the industry's expansion.
COVID-19 Analysis:
Global crisis has been brought on by the emergence of COVID-19, a pandemic that has affected the entire world. The pandemic, which has affected more than 195 countries, has affected the global economy and is said to be creating a chaotic atmosphere that will lead to global revocation. The global nutricosmetics market is impacted by the fast expanding case count in a variety of ways.
Market Segmentation:
By Product Type
The drinks segment accounted for the largest market share of 32.25% in 2020, and also expected to record the highest CAGR of 6.59% during the forecast period.
By End Use
The skincare segment accounted for a larger market share of 61.63% in 2020 whereas, the haircare segment is projected to record the highest CAGR of 6.61% during the forecast period.
By Distribution Channel
The indirect segment accounted for a larger market share of 78.89 % in 2020, whereas, the direct segment is projected to record the highest CAGR of 7.36% during the forecast period.
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Regional Analysis:
In 2020, Asia-Pacific held the biggest market share of 44.78%; during the forecast period, the regional market is anticipated to grow at a CAGR of 6.40%. Because to the extensive acceptance of nutricosmetics in these nations, Japan, China, and India represent the three largest country-level markets in the area. Japan is the world's largest market for nutricosmetics, with industry players placing a strong emphasis on innovation to create novel nutricosmetic types and forms. The 'beauty from inside' trend's appeal, the abundance of products, and the existence of nutricosmetics-focused specialty stores are propelling market expansion in the nation. The market in India is anticipated to increase at the greatest pace, 6.67%, between 2021 and 2028.
The main element fueling the expansion of the nutricosmetics market in Europe is the older population's interest on anti-aging products in the area. These goods are meant to deal with aging, skin care, and hair care. Germany, the UK, France, and Italy account for the majority of market concentration. However, a number of competitors, including Amway, Herbalife International of America, Inc., and Pfizer Limited, have fragmented the industry. These competitors spend in product development and launches because they are interested in growing their regional consumer base. Market expansion has also been impacted by the growing demand for natural products. In 2020, Europe held 29.35% of the global market share; over the forecast period, the regional market is expected to grow at a CAGR of 6.49%.
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