Albany, NY — 12/22/2017 — Global Nutricosmetics Market: Snapshot
The global nutricosmetics market is expected to unveil substantial growth in the forthcoming years, especially due to the growing elderly population globally. Furthermore, factors such as increasing demand for natural products for health and beauty due to fewer side effects and rising healthcare costs are stirring growth of the global nutricosmetics market.
Nutricosmetics are orally consumed natural health products that contain target nutrients and antioxidants for the treatment of skin, hair, and nails. They are available in the form of beverages, beauty supplements, or functional foods, or that contain active ingredients along with ingredients such as proteins, enzymes, minerals, botanical leaves, lycopene, etc. that are developed and marketed mainly as beauty aids. Nutricosmetics are available as tablets, pills, jellies, capsules, and drinks.
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The drift toward a healthier lifestyle and the positive effects of ingredients such as green tea, roots, and barks that supports “Beauty from within” is increasing the demand for nutricosmetics at the global level.
However, lack of awareness among consumers about the benefits of nutricosmetics is acting as a bottleneck to the growth of this market. The relatively new availability of these products has been a reason for their low credibility among consumers. Furthermore, longer time for nutricosmetics to show results is challenging the growth of nutricosmetics market.
The global nutricosmetics market pegged an opportunity of US$5.13 bn in 2016 and is poised to reach US$7.93 bn by 2025, progressing at a CAGR of 5.0% between 2017 and 2025.
Skin Care to Remain Dominant Segment Based on Primary Function
In terms of product type, the nutricosmetics market is segmented into supplements and beauty beverages/drinks. In 2016, supplements stood as the leading product type segment and is estimated to retain its position with 54.1% of the market by the end of 2025. Among supplements, tablets held the leading market share in 2016 and is expected to maintain its position during the forecast period.
By primary function, the global nutricosmetics market is segmented into skin care, weight management, hair and nail care, and multi-functional. Skin care comprises sun care, radiance and glow, anti-ageing, and anti-acne pimple. Skin care held the leading market share amongst other segments in 2017 and is expected to lead until 2025, albeit with a declined market share. However, sun care is expected to display the leading growth rate between 2017 and 2025.
On the basis of distribution channel, the global nutricosmetics market is segmented into modern trade, specialty stores, health and beauty stores, pharmacy stores, and e-commerce. Amongst these, pharmacy stores stood as the leading distribution channel and is anticipated to maintain its dominance throughout the forecast period. On the other hand, health and beauty stores is gaining momentum and is anticipated to display the leading growth rate until the end of 2025.
Asia Pacific to Surpass other Regional Segments by 2025
On the basis of geography, the global market for nutricosmetics is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. While North America displayed the leading growth in 2016, Europe captured the leading market share due to high penetration of nutricosmetics combined with high adoption rate among consumers as well as high awareness about products' benefits. Product manufacturers in Europe are strategizing for acquisitions and joint ventures in order to grab opportunities in the global market. While Asia Pacific held the second-leading share in the global market in 2016, the region is expected to surpass all regional segments in terms of market share by 2025.
Some of the key players in the global nutricosmetics market include Cargill Incorporated, E.l.Du Pont De Nemours and Company, Nestle S.A., The Coca-Cola Company, and L'Oreal SA.
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