Global Nutricosmetics Market- Industry Trends & Forecast Report
2027
Summary
A recent study, conducted by the strategic consulting and market research firm BlueWeave Consulting, revealed that the global nutricosmetics market was worth USD 6.9 billion in the year 2020. The market is estimated to grow at a CAGR of 8.0%, earning revenue of around USD 11.7 billion by the end of 2027.
The global nutricosmetics market is redefining the scenario of the beauty industry and taking it forward by providing consumers with edible solutions to beauty. The market is gaining significant traction due to the changing consumption patterns of consumers due to the availability of a wide range of nutricosmetics products. Nutricosmetics are gaining popularity due to increased health awareness and the increasing prevalence of skin issues, such as acne, inflammation, psoriasis, and hives. Additionally, the negative influence of pollution and other environmental factors on skin and hair is expected to drive the growth of the nutricosmetics market in the forecast period.
Report Overview
Nutritional cosmetics are increasing in popularity, as more people become aware of the concept of holistic beauty, based on the principle that healthy living is beneficial for beautiful skin. Growing aging populations, increasing prevalence of skin problems, and the growing demand for natural products among beauty and
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health-conscious people are driving the growth of the global nutricosmetics market.
Global Nutricosmetics Market- Industry Trends & Forecast Report 2027 The global nutricosmetics market was worth USD 6.9 billion in 2020 and is further projected to reach USD 11.7 billion by the year 2027, growing at a CAGR of 8.0%
in the forecast period. The growth of the market can be attributed to an increasing aging population, along with the growing demand for natural products because of its limited side effects. Further, a growing concern over healthy aging, changing perceptions of beauty & trends, and research and development into products with organic nutrients will drive the market during the forecast period.
Global Nutricosmetics Market- Overview
The word nutricosmetics is derived from two words - nutraceutical and cosmeceuticals. It can also be termed as a nutritional supplement that supports the structure and function of the skin. Nutricosmetics commonly contain vitamins (A, B6, and E), sterol esters, coenzyme Q10, omega 3 fatty acids, lycopene, soy proteins, probiotic probiotics, chondroitin, and lutein. Among the medical benefits of nutricosmetics are its antioxidant properties and the way it controls and cancels free radicals, reduces inflammation, and protects the skin from ultraviolet rays.
Global Nutricosmetics Market Forecast and Trends Growth Drivers
Increasing Prevalence of Skin Issues
Several reports have revealed that the global burden of various skin diseases is increasing at a high rate. Acne is emerging as one of the major issues among teens and adults worldwide. According to an estimate, around 9.4% of the global population suffers from acne— a skin condition caused by plugged hair follicles filled with dead skin cells and oil. Many factors contribute to the incidence of skin diseases, including air pollution, medical conditions, stress, and contact with environmental triggers such as allergens. These factors will likely boost the demand for nutricosmetics in the forecast period.
Growing Preference for Herbal Nutricosmetics
Consumers are shifting toward natural products and remedies due to their awareness of the chemical ingredients in cosmetic products and their drastic side effects on the skin. Consequently, herbal nutricosmetics are becoming a popular alternative to chemical cosmetics. To meet market demand, nutricosmetics brands are also launching a wide range of products based on the opportunities and growth potential. Nutritional supplements come in a variety of forms. Among the many forms of medications available are gummies, chewing gum, sachets, and pills.
Restraints
Limited Awareness Among Consumers
Nutricosmetics are primarily used by the elite and upper-class population due their high purchasing power. Limited awareness regarding the benefits of nutricosmetics is another factor impeding market growth. Also, Nutricosmetics' demand is slowed by consumers' preference for home remedies rather than such products. In order to expand market demand, manufacturers must increase penetration of these products into the middle- and lower-income classes as well.
Impact of COVID-19 on Global Nutricosmetics Market
The outbreak of the COVID-19 led to the imposition of strict lockdown in various countries to mitigate the virus spread. People were restricted from going outside and were forced into their homes during the nationwide lockdowns imposed by the governments of different countries. Due to limited exposure to ultraviolet rays, the prevalence of skin damage declined, subsequently impacting the market for nutricosmetics. Furthermore, the obstruction in production and supply chains caused by lockdowns also hampered the market’s growth. What’s more, consumers’ declining disposable income due to economic slowdown also negatively impacted the market.
Global Nutricosmetics Market - By Ingredient
Based on ingredients, the global nutricosmetics market is segmented into carotenoids, vitamins, omega 3 fatty acids, and others. Among these, carotenoids accounted for the largest share in 2020. It is preferred because inhibition of collagen synthesis leads to skin aging, and carotenoids somehow counteract this by reducing inhibition and blocking UV rays. Consumer concerns about premature aging of the skin, combined with a preference for safe and effective beauty products, drive the demand for carotenoids.
Global Nutricosmetics Market - By Product
Based on products, the global nutricosmetics market is segmented into solid and liquid. The solid product segment accounted for the largest market share in 2020. By providing adequate amounts of nutrients, these supplements provide aesthetic benefits to the body. Additionally, solid supplements are easy to consume, which is why most consumers prefer them. Moreover, the increased penetration of solid supplements containing nutrients such as vitamins, minerals, proteins, omega-3 fatty acids, etc., is also contributing to the market's growth.
Global Nutricosmetics Market - Regional Insights
Geographically, the global nutricosmetics market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa. With a growing geriatric population and the increasing prevalence of skin issues, Europe
dominates the global nutricosmetics market. Market growth is also driven by the availability of numerous products in supermarkets/hypermarkets and the popularity of online channels selling nutricosmetics in this region. North America also covers a substantial share in the market due to the growing acceptance of nutricosmetics products, especially herbal supplements.
Global Nutricosmetics Market - Competitive Landscape
The leading players in the global nutricosmetics market are Lonza Group Ltd., Frutels LLC, Quest, GliSODin Skin Nutrients, Perricone MD, Frutarom Industries Ltd., Solgar Inc., Functionalab Inc., Nutrilo GmbH, Excelvite, GlaxoSmithKline plc, Martek, Biosciences Corporation, Ferrosan A/S, Groupe Danone, Laboratoire Oenobiol S.A.S, Sanofi-Aventis U.S., Croda International Plc., Pfizer Inc., Borna Inc., and other prominent players.
The market is highly fragmented due to the presence of various local and international players. The market players significantly focus on launching a wide variety of products to cater to various skin and hair issues. They also invest in R&D activities to develop new and effective products. Furthermore, they constantly focus on improving their distribution channel to increase their product penetration. Furthermore, the adoption of competitive strategies like partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.
Recent Developments
In May 2021, SEPPIC, a French specialty chemical products company, announced the acquisition of nutricosmetics ingredients supplier EPI France.
In March 2021, D+ For Care, a French nutricosmetics startup, announced the launch of Aloha Prepare and Repair beauty supplements for sensitive skin to protect it from the harmful ultraviolet rays of the sun.
Scope of the Report
Attributes Details
Years Considered
Historical data – 2017-2020 Base Year – 2020
Forecast – 2021 – 2027
Facts Covered Revenue in USD Billion
Market Coverage
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia
Product
Service/Segmentation
By Ingredients, By Product, By Application, By Distribution Channel, By Region
Key Players
Lonza Group Ltd., Frutels LLC, Quest, GliSODin Skin Nutrients, Perricone MD, Frutarom Industries Ltd., Solgar Inc., Functionalab Inc., Nutrilo GmbH, Excelvite, GlaxoSmithKline plc, Martek, Biosciences Corporation, Ferrosan A/S, Groupe Danone, Laboratoire Oenobiol S.A.S, Sanofi-Aventis U.S., Croda International Plc., Pfizer Inc., Borna Inc., and other prominent players.
By Ingredients
Carotenoids
Vitamins
Omega 3 Fatty Acids
Others By Product
Solid
Liquid By Application
Personal Care
Healthcare
By Distribution Channel
Modern Trade
Health & Beauty Stores
Specialty Stores
Pharmacy Stores
E-commerce By Region
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
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