The global nutricosmetics market size was USD 6.45 billion in 2022. The market is poised to expand from USD 6.84 billion in 2023 to USD 11.24 billion by 2030, exhibiting a CAGR of 7.36% over the study period. The surge is impelled by the growing product usage for beauty enhancement through a holistic approach. This comes as the product adoption helps in strengthening the immune system, enhancement of skin elasticity, and wrinkle removal, among others.
Fortune Business Insights™ provides this information in its research report, titled “Nutricosmetics Market, 2023-2030”.
List of Key Players Mentioned in the Report:
- Biocyte Laboratory (France)
- Herbalife Nutrition (U.S.)
- Vitabiotics (U.K.)
- Ducray Dermatological Laboratories (France)
- D-LAB NUTRICOSMETICS (France)
- Skinade (U.S.)
- Zenement (Spain)
- Kapiva (India)
- TERRAVITA (Spain)
- Amorepacific (South Korea)
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Capsules Segment Registered a Key Share Propelled by Higher Efficacy Compared to Other Delivery Modes
Based on form, the market for nutricosmetics is fragmented into powder, tablets, capsules, and others. The capsules segment accounts for a key share in the market. The expansion is due to the higher efficacy offered by capsules when compared to other delivery modes.
Skin Segment Dominates Due to Surging Usage for Treating Several Skin Problems
By application, the market for nutricosmetics is classified into nails, hair, and skin. The skin segment accounts for a major market share. The rise can be credited to the escalating product deployment for addressing numerous skin problems including issues induced by nutrient deficiency.
Supermarkets/Hypermarkets Segment to Hold the Largest Share Considering Availability of Range of Products
By distribution channel, the market for nutricosmetics is fragmented into drug stores, online retail stores, supermarkets/hypermarkets, specialty stores, and others. The supermarkets/hypermarkets segment holds a dominant share in the market. This comes as the stores offer a range of products.
On the basis of geography, the market for nutricosmetics is fragmented into Asia Pacific, North America, Europe, the Middle East & Africa, and Latin America.
The report provides an analysis of the market based on various segments. It gives an insight into the key developments in the industry and the steps adopted by major companies in strengthening their market positions. Some of the other aspects include an account of the major driving and restraining factors.
Drivers and Restraints:
Market Share to Surge Impelled by Change in Dietary and Lifestyle Patterns
One of the key factors driving nutricosmetics market growth is the change in dietary patterns and lifestyles of consumers. The consumption of junk food leads to numerous problems, including hair loss, premature hair fall, and acne problems, among others.
However, the industry expansion may be hindered by a lack of awareness associated with the efficacy of nutricosmetic products.
Asia Pacific to Record Dominant Share Owing to Presence of Favorable Regulatory Framework
The Asia Pacific nutricosmetics market share accounted for a dominating position in the market in 2022. This can be attributed to the presence of favorable and stringent regulatory framework in various countries in the region.
The North America market is poised to record appreciable expansion over the estimated period. The expansion can be attributed to the increasing demand for natural cosmetic products.
Major Industry Participants Deploy New Strategies to Gain Competitive Edge
Leading market players are focused on deploying a series of strategies for strengthening their positions in the industry. These include merger agreements, acquisitions, the launch of new products, and research activities.
Key Industry Development:
December 2020 – AMOREPACIFIC launched “CUBE ME”. The products help in managing the dermis of deep skin, which can be managed only through the application of cosmetics.