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Nutricosmetics Market Size to Surpass US$ 15.6 Billion by 2030

·5-min read
Precedence Research
Precedence Research

According to Precedence Research, the nutricosmetics market was estimated at US$ 6.4 billion in 2021 and is predicted to surpass around US$ 15.6 billion by 2030, expanding growth at a 10.41% from 2022 to 2030.

Tokyo, May 23, 2022 (GLOBE NEWSWIRE) -- The global nutricosmetics market is expanding as people become more conscious of skin issues like wrinkles and anti-aging. Furthermore, increased healthcare spending as well as the rising incidence of lifestyle disorders and infections are expected to contribute to the worldwide nutricosmetics market's growth and development throughout the forecast period.

The nutricosmetics are health and beauty products that are specialized. Nutraceutical components in nutricosmetics may aid to improve overall health. Orally delivered nutricosmetics are gaining popularity among customers due to their capacity to improve general hair and skin health by giving nourishment from within.

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Report Highlights

  • On the basis of ingredient, carotenoids segment holds the largest market share in the global nutricosmetics market. Due to its antioxidant characteristics, which are good to skin, hair, and overall health, the carotenoids category is likely to hold a significant market share in the worldwide market. Some of the most common carotenoids used in industrial applications are lutein, beta-carotene, astaxanthin, and lycopene.

  • On the basis of application, skin care segment holds the largest market share in the global nutricosmetics market. The emerging components for healthy skin such as lycopene and pycnogenol are gaining traction in the nutricosmetics industry for skin care. In addition, consumers are more likely to purchase skin care products that include nutrients like omega 3 fatty acids, vitamin A, and vitamin D, which have been related to improving skin health, providing producers with a plethora of new product ideas.

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Regional Snapshot

Asia-Pacific is the largest segment for nutricosmetics market in terms of region. Following Japan, China now holds the largest proportion of the worldwide nutricosmetics market, thanks to product innovation in both form and type. During the anticipated period, India is also expected to be the fastest-growing market in the worldwide industry.

Europe region is the fastest growing region in the nutricosmetics market. The UK hold the highest market share in the Europe nutricosmetics market. Because of the changing lifestyles of people in Europe, the nutricosmetics business is booming. People's increasing willingness to adopt new ways of personal care and beauty enhancement employing nutricosmetics might also be attributed to the increase in sales. Furthermore, rising demand for multi-functional products that include hair, skin, and nail care, as well as other characteristics, will help to boost regional growth.

Scope of the Report

Report Attributes

Details

Market Size in 2021

USD 6.4 Billion

Revenue Forecast by 2030

USD 15.6 Billion

Base Year

2021

Forecast Data

2022 to 2030

Market Dynamics

Drivers

Surge in demand for natural products

Over the last few years, there has been a noticeable shift in consumer preference for natural skin health and beauty products. It corresponds to organic and eco-friendly beauty products. The natural alternatives are now preferred above synthetic ones by consumers. The leading cosmetics companies are venturing into the realm of herbal formulations, rejecting any hazardous or chemical interference in the formula. Thus, surge in demand for natural products is driving the growth of global nutricosmetics market.

Restraints

Stringent government regulations

The manufacturers of nutricosmetics needs to follow certain rules and regulations imposed by government agencies. According to laws prescribed by government, market players can use only those ingredients which are healthy for end users. As a result, stringent government regulations are restricting the growth of global nutricosmetics market.

Opportunities

Rise in disposable income

Thesurge in disposable income in emerging nations would open up new prospects for multinational corporations. The huge skin care market players are expanding at a rapid pace. The consumers are spending more money on skin care products. As per the World Bank, the working population in Asia-Pacific region is growing, with female workforce participation in Malaysia at 46.8%. This feature leads to better income and as a result, higher spending expenditure among women, which is projected to fuel the growth of global nutricosmetics market.

Challenges

Lack of knowledge regarding nutricosmetics

The global nutricosmetics market is expected to be hampered in the next years due to a lack of understanding about the availability of nutricosmetics and their advantages in various developing nations. Thus, this factor is major challenge for the global nutricosmetics market.

Recent Developments

  • The vegan vitamin gummies brand Vitamin Kitchen was launched in August 2021 by UK-based indie brand Beauty Kitchen, which offers 3 plant-based vitamin gummies to satisfy a range of nutritional demands. The skin, nails, and hair product with a blend of zinc, biotin, and vitamin C was included in the line, which was packaged in a heat sealed and recyclable pouch to protect the gummies. This product line is accessible online through the firm’s own website as well as Planet Organics’ stores and website in the UK.

  • New Avon LLC increased its wellness and health product portfolio in January 2018 with the introduction of nutricosmeticEspira, a nutritional supplement line.

  • Herbalife Nutrition extended its nutricosmetics business in Malaysia in October 2020 with the introduction of Collagen Plus Powder, a beauty from within skin supplement.

Market Segmentation

By Ingredient

  • Carotenoids

  • Vitamins

  • Omega 3 Fatty Acids

  • Others

By Application

  • Personal Care

  • Skin Care

    • Sun Care

    • Anti-Ageing

    • Radiance and Glow

    • Anti Acne/Pimple

  • Hair Care

  • Nail Care

  • Health Care

  • Digestive Health

  • Heart Health

  • Weight Management

  • Others

By Intake Type

  • Pill Type Nutricosmetics

  • Drinkable Nutricosmetics

By Form

  • Tablets and Capsules

  • Powder and Liquid

  • Gummies and Soft Chews

By Distribution Channel

  • Supermarkets/Hypermarkets

  • Drug Stores/Pharmacies

  • Specialist Stores

  • Online Retail

  • Other Distribution Channels

By Geography

  • North America

  • Europe

  • Asia-Pacific

  • Latin America

  • Middle East & Africa (MEA)

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