Nutricosmetics Market to Record Rise in Incremental Opportunity During the Forecast Period 2026
Seattle, WA -- (SBWire) -- 03/09/2020 --Nutricosmetics are oral based nutritional supplements for beauty and skin health. Nutricosmetics market is primarily driven by the expansion and consumer awareness in personal grooming coupled with busy lifestyle of the growing urban population. Nutricosmetics are health products which are mainly used for the treatment of hair, nail, skin defects, sun protection and photoaging. Photoaging is aging mainly caused due to exposure to ultraviolet (UV) light which causes brown spots and deep wrinkles. Antioxidants such as vitamin E and C, green tea polyphenols, beta carotene, supplements containing polypodium leucotomos, an extract of a Central American fern plant, and synergistic antioxidants have the ability to reduce sun damage. Other micronutrients such as carotenes, flavonoids, and omega-3 fatty acids also provide protection from ultraviolet light exposure and reduce the aging of skin and wrinkle formation. Some of the key factors fuelling growth of the nutricosmetics market are the increasing number of retail shops across the globe, rising popularity of ready-to-drink nutricosmetics beverages, preference for effective and safe beauty solutions. These factors are boosting sales of cosmetics supplements, and increasing consumer awareness regarding the prevention of pre-mature skin aging. Demand for skin care products is increasing across the globe. Moreover, the global cosmetics market is expected to exhibit a CAGR of 5.2% in terms of revenue during 2017-2025, which, in turn, is expected to drive the demand for nutricosmetics over the forecast period.
The global nutricosmetics market size was valued at US$ 5.00 billion (revenue) in 2016 and is expected to expand at a CAGR of 11.65% in terms of revenue during 2017 – 2025.
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Nutricosmetics: Success and Failures
Factors such as rapid innovation and technological advancements are expected to benefit growth of the nutricosmetics market. For instance, in the U.S., Mars, a food packaging company, launched Dove Beautiful (containing biotin, zinc and vitamins E and C) and Dove vitalize (containing dark chocolate enriched with vitamin B). These products, in spite of high investment in product promotion failed to gain consumer demand in the U.S market. Nutricosmetics products are subject to market regulations in Europe. For instance, in October 2010, European Food Safety Authority's (EFSA) approved the launch of Nesfluid, a functional beverage along with other ingredients such as zinc, vitamin C and D, and selenium by Nestle. The consumer base for nutricosmetics has increased over time. Wellman Tricologic, a popular anti-hair loss product for men has facilitated its demand in the Europe market.
Europe, followed by North America and Asia Pacific, respectively, accounted for major share in the global nutricosmetics market in terms of revenue in 2016 and the trend is estimated to remain the same over the forecast period. In 2016, North America held a share of 26.12% in terms of revenue, followed by Asia Pacific (24.03%). The growing demand for personal grooming and busy lifestyles in Asia Pacific due to rising consumer awareness, coupled with growing retail sector is expected to drive growth of the global nutricosmetics market over the forecast period. The vitamins segment in the global nutricosmetics market is expected to witness a CAGR of 11.65% from 2017 to 2025. Asia Pacific is expected to be the most lucrative market during the forecast period, due presence of rapidly growing economies such as China and India, coupled with rising healthcare awareness, which in turn is expected to propel the consumer demand for nutricosmetics. Moreover, the growing retail sector across the region is also expected to boost demand for nutricosmetics from 2017 to 2025.
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Frutarom Ltd, Lucas Meyer Cosmetics S.A.S., Sanofi-Aventis U.S. LLC, Croda International Plc, and Pfizer Inc., Functionalab Inc, Laboratoire Oenobiol S.A.S., Laboratoires Inneov SNC., Beiersdorf Ag, BASF SE, Borba, Inc., Frutels LLC, ISOCELL SA, GlaxoSmithKline Pharmaceuticals Limited, ExcelVite, Denomega Nutritional Oils AS, Groupe Danone SA, IMCD Group BV, Lonza Group Ltd. among others are the key players operating in the global nutricosmetics market. Expansion of product portfolio and geographical capacity is expected to aid growth of the market in the near future. For instance, ALPI Candy Factory has expanded its manufacturing units in Croatia and Greece for the manufacturing of nurticosmetic products such as deo toffee, deo lavender with sugar and without sugar, which is expected to expand growth of the global nutricosmetics market.
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