Rising Concerns Regarding Weight Management to Provide Substantial Push to Sales of Nutricosmetics, Evaluates Fact.MR
Published : 29 Apr 2021 Industry: Consumer Goods
Innovative developments and increased R&D activities in weight management will lead to substantial growth in demand for nutricosmetics products over the forecast period of 2021-2031. Sedentary and unhealthy lifestyle prevalent in developed economies has increased obesity among people. For instance, more than one-third of the people in the U.S are obese. Furthermore, obesity gives rise to complications such as diabetes and cardiovascular diseases. These factors are encouraging people to consume nutritional products for managing their weight.
Moreover, weight management nutricosmetics products are witnessing significant demand, especially in the German market. These mainly comprise flavoured water, yoghurt, and juices. For instance, GELITA, a producer of gelatin, recently launched QYRA, comprising bioactive collagen peptides. Moreover, presence of companies focusing on innovative solutions coupled with demand for weight management nutricosmetics will bolster overall market growth over the coming years.
As per a new report published by Fact.MR, the nutricosmetics market is anticipated to expand at a CAGR of around 5% over the next ten years.
Key Takeaways from Market Study
- The skin care sector is anticipated to be a major driver of the nutricosmetics industry.
- Among the primary functions, weight management has been the fastest-growing segment, owing to rise in a sedentary and unhealthy lifestyles.
- The North American region is set to dominate sales revenue in 2021 and ahead.
- Nutricosmetics sales in Asia Pacific are expected to rise significantly through 2031.
- Due to the COVID-19 crisis, demand for nutricosmetics was hit in 2020, which saw a decline. But with increasing awareness of their health benefits, it is expected to gain traction again.
“High spending on innovation and R&D by key market players will aid market growth over the coming years,”says a Fact.MR analyst.
Key players have been spending on research & development to come up with newer innovative products coupled with organic growth strategies. These enhancements will drive nutricosmetics sales in the medium- to long-term forecast period.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global nutricosmetics market, presenting historical demand data (2016-2020) and forecast statistics from 2021 to 2031. The study divulges essential insights on the market based on product type (supplements [tablets, capsules, powder, and liquid] and beauty beverages/drinks), primary function (skin care [sun care, anti-ageing, radiance, and glow and anti-acne/pimple], hair and nail care, weight management, and multifunctional), and distribution channel (modern trade, health and beauty stores, specialty stores, pharmacy stores, and e-Commerce), across six major regions of the world (North America, Latin America, Europe, the Middle East & Africa, and Asia Pacific).
About the Consumer Goods Division at Fact. MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Consumer Goods team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analysed the Consumer Goods industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Shambhu Nath Jha
Sr. Consultant –Retail & Consumer Goods