Nutricosmetics Market By Product Type (Supplements, Beauty Beverages/Drinks), By Primary Function (Skin Care, Hair and Nail Care, Weight Management), By Distribution Channel, By Region - Global Market Insights to 2031
Nutricosmetics Market Outlook (2021 to 2031)
The global nutricosmetics market is expected to expand at a CAGR of around 5% over the 2021 to 2031 forecast period, with the skin care sector providing the most push to market expansion and growth.
Nutricosmetics are products that provide nutritional values for skin, hair, and nails care. Products are developed using natural elements such as barks, fruits, oils, and seeds. Additionally, coenzyme Q10, fruit extracts, and green tea are some other commonly used substances for the development of nutricosmetics. Rising awareness regarding the harmful effects of synthetic cosmetic products and health benefits associated with nutricosmetics are driving market growth across geographies.
Moreover, popularity of nutricosmetics among both, the young and ageing population, coupled with increasing awareness regarding the ill-effects of synthetic cosmetics, is driving demand for nutricosmetics products.
Additionally, health-conscious consumers are trying to shift their focus towards organically derived products such as nutricosmetics that have additional health benefits apart from their traditional use. For instance, individuals are seeking products that can provide internal health satisfaction in addition to external beauty.
The foremost objective of the report by Fact.MR on the nutricosmetics market is to pitch insights on the market scenario, demand generators, and technological advancements in this space. The report provides a taxonomy elaborating on key segments.
The report also outlines visionary insights on the dynamics of the market, including the drivers, restraints, opportunities, trends and pricing analysis, along with key success factors. Market trends have been tracked in 20+ high-growth countries, pointing towards countries in North America, Europe, the Middle East, and Asia Pacific holding bulk of the market share.
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Historical Trends Vs. Future Market Projections
Y-o-Y growth for nutricosmetics products have been impressive, and demand has been growing at a steady CAGR. Moreover, rise in high disposable coupled with increased participation of women in the workforce, especially in emerging countries such as China, Brazil, India, and South Africa, is projected to give a major boost to nutricosmetics demand and sales. However, due to the COVID-19 pandemic, sales of nutricosmetics products dipped owing to strict lockdown measures. However, future projections regarding demand and sales of nutricosmetics seem affirmative.
Demand over the long-term forecast period can be estimated by breaking the forecast timeline into three parts.
- Short-run: Nutricosmetics demand and sales is expected to be hindered due to the COVID-19 pandemic, owing to strict lockdown measures and disruptions in the supply chain.
- Medium Run: Demand is set to be observed with price normalization as people's behaviour towards health is changing, owing to the impact of the COVID-19 pandemic and growing preference for organically developed products.
- Long run: The market is set to expand at a steady 5% CAGR over the forecast period (2021-2031).
What are the Primary Applications that Generate Demand for Nutricosmetics?
Nutricosmetics products that are organic, clinically approved, and give quick visible results will bolster market growth. Additionally, emerging ingredients such as lycopene and pycnogenol are witnessing strong surge in application in skincare.
Furthermore, products that contain omega-3 and vitamins are seeing significant growth in the skin care sector. Moreover, growing millennial population who prefer quality products in addition to health benefits is giving tailwinds to nutricosmetics demand.
In addition to the above factors, sustainable manufacturing process coupled with innovative ways to develop organic products will play a major role in driving demand for nutricosmetics, especially in skin care.
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Which Region Offers Great Potential for Nutricosmetics Product Manufacturers?
Asia Pacific is projected to experience high demand for nutricosmetics products. Companies are targeting emerging markets such as China and India, as rise in disposable income coupled with a high percentage of the young population joining the workforce is bolstering demand for nutricosmetics. For instance, female participation in the workforce in Malaysia is 46.8%, which is helping the nutricosmetics industry to grow at an impressive rate.
Why are Nutricosmetics Product Sales Rising across the U.S.?
The U.S is leading the global nutricosmetics market owing to high disposable income and rising awareness among people regarding the ill-effects of synthetic products. Moreover, nutrient deficiency and rising healthcare cost in the U.S. are compelling people to use nutricosmetics products. For instance, in 2020, SDIN launched SunISDIN Softgel capsules, which is a combination of vitamins, antioxidants, and essential minerals. Additionally, these capsules help fight photoaging, impede oxidative stress, and in keeping the skin healthy.
Moreover, the COVID-19 pandemic has necessitated the need to intake additional nutrients apart from daily food. Nutricosmetics such as vitamins, proteins, and antioxidants that can increase immunity are in high demand, which is paving the high demand for nutricosmetics in the U.S.
What are the Growth Prospects for Nutricosmetics in Malaysia?
Malaysia is a diverse country, and this traditional blend is helping it in growing its nutricosmetics sector. Additionally, high participation of women in the workforce coupled with high spending on cosmetic products is witnessed in the country. Moreover, rising awareness of health benefits with high focus on natural products is driving demand for nutricosmetics industry in the country.
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Which Primary Function is Bolstering Demand for Nutricosmetics?
Skin care nutricosmetics products are primarily driving sales. Emerging nutricosmetics ingredients such as lycopene and pycnogenol are witnessing strong demand for their application in skin care. Moreover, clinically approved organic nutricosmetics products coupled with an eco-conscious approach is driving the skincare segment for nutricosmetics.
In addition to the above factors, innovative use of natural ingredients such as ground coffee and charcoal in skin scrubs and seaweed used in skin care is driving the attention of people towards nutricosmetics products and away from synthetic ones.
Which Distribution Channel is Projected to Contribute Maximum to Sales Growth?
Departmental stores such as health and beauty stores, pharmacy stores, and speciality stores are projected to hold the highest share in terms of sales. Additionally, this projection is expected to remain valid for the overall forecast period of 2021-2031. However, technological penetration, and opening up of online retail stores and e-Commerce websites will witness significant growth over the coming years.
Additionally, the COVID-19 pandemic has compelled people to stay indoors, which has also bolstered the online shopping trend. Various e-pharmacy websites have seen significant growth in revenue owing to the pandemic situation with increase in the purchase of medicines.
What is the Strategy of Companies to Accelerate Demand for Nutricosmetics?
Companies are mainly focused on organic growth strategies such as launching of new products and innovation in the development of nutricosmetics.
- For instance, Herbalife Nutrition, in October 2020, expanded its market by launching a range of collagen powders under the skin supplement portfolio in Malaysia.
- Ajinomoto Health and Nutrition, in 2020, launched its product named “Indigo marine collagen powder” for revitalizing the skin.
The above stated organic growth strategies are helping companies grow their market for nutricosmetics products. Similarly, recent developments related to companies have been tracked by the team at Fact.MR, which are available in the full report.
Historical Data Available for
US$ Mn for Value and volume units for volume
Key Regions Covered
Key Countries Covered
Key Segments Covered
Key Companies Profiled
Customization & Pricing
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Key Market Segments Covered
By Product Type
- Nutricosmetics Tablets
- Nutricosmetics Capsules
- Nutricosmetics Powder
- Liquid Nutricosmetics
- Gummies Nutricosmetics Products
- Beauty Beverages/Drinks
By Primary Function
- Skin Care Nutricosmetics
- Sun Care Nutricosmetics
- Anti-ageing Nutricosmetics
- Radiance and Glow Nutricosmetics
- Anti-acne/Pimple Nutricosmetics
- Hair and Nail Care Nutricosmetics
- Weight Management Nutricosmetics
- Multifunctional Nutricosmetics
- Skin Care Nutricosmetics
By Distribution Channel
- Nutricosmetics through Modern Trade
- Nutricosmetics through Health and Beauty Stores
- Nutricosmetics through Speciality Stores
- Nutricosmetics through Pharmacy Stores
- Nutricosmetics through e-Commerce
- North America
- Latin America
- The Middle East and Africa
- Asia Pacific
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