Indonesia Nutricosmetics Market, By Product Type (Vitamins, Carotenoids, Omega-3 Fatty Acids, Others), By Form (Liquid, Solid), By Application (Skin Care, Hair Care, Oral Care, Sun Protection, Other)

The Indonesia nutricosmetics market is projected to surpass US$ 382.7 Million by the end of 2030 and is expected to exhibit a CAGR of 9.4% during the forecast period (2023 to 2030).

Report Coverage		Report Details
Base Year:	2022	Market Size in 2023:	US$ 186.2 Mn
Historical Data for:	2018 to 2021	Forecast Period:	2023 - 2030
Forecast Period 2023 to 2030 CAGR:	9.40%	2030 Value Projection:	US$ 382.7 Mn

Figure 1. Indonesia Nutricosmetics Market Revenue Share (%), By Product Type, in 2022

The expansion and consumer awareness of personal grooming, as well as the busy lifestyles of Indonesia's growing urban population, are driving the market for nutricosmetics in the Indonesia country. Nutricosmetics are health products mainly used for the treatment of hair, nail, and skin defects, photoaging, and sun protection. Photoaging is a type of aging mainly caused by exposure to ultraviolet (UV) light, which causes brown spots and deep wrinkles.

Market Dynamics

The rising penetration of cosmetic products in Indonesia ountry also supports the Indonesia nutricosmetics market's growth. For instance, according to Indonesia's National Agency of Drug and Food Control (BPOM RI), within a year (2021-2022), the number of cosmetic companies in the country increased by over 20%, from 819 to 913 entities. Moreover, Personal care is also the product category that has received the most distribution licenses fromBADAN PENGAWAS OBAT DAN MAKANAN OR BPOM in Indonesia in the last 5 years, with an astounding 411,410 products launched the Indonesia nutricosmetics market.

Some of the key drivers fueling the growth of the nutricosmetics market are rising retail shops across the globe, growing consumer awareness about the prevention of pre-mature skin aging.The growing availability of nutricosmetics due to the rising popularity of e-commerce is another major driver for the Indonesian nutricosmetic market.

There is a lack of a clear and definitive regulatory structure for nutricosmetics, which creates safety concerns among consumers. This is expected to hamper the market growth. The nutricosmetics market is also slowed down by outdated regulations in the Indonesia country. The National Agency of Drug and Food Control still uses references from the Health Supplements 2005 rules, which have not been updated with respect to permitted claims or ingredients. Furthermore, there are restrictions on the use of new ingredients, which is expected to hamper the market growth.

Key features of the study:

• This report provides an in-depth analysis of the Indonesia nutricosmetics market, market size (US$ Million), and Compound Annual Growth Rate (CAGR%) for the forecast period (2023-2030), considering 2022 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the Indonesia nutricosmetics market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
• The key companies covered as a part of this study are Amway Corporation, BASF SE, ExcelVite Sdn. Bhd., Functionalab Group, Glaxosmithkline Plc., Inneov Spain SA, LycoRed Ltd., PT. Vitabiotics Indonesia, Swisse Wellness PTY Ltd., and YOUVIT
• Insights from this report would allow marketers and the management authorities of companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The Indonesia nutricosmetics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analysing the Indonesia nutricosmetics market.

Indonesia Nutricosmetics Market Detailed Segmentation:

• By Product Type:
  • Vitamins
  • Carotenoids
  • Omega-3 Fatty Acids
  • Others
• By Form
  • Liquid
  • Solid
• By Application
  • Skin Care
  • Hair Care
  • Oral Care
  • Sun Protection
  • Others
• Company Profiles
  • Amway Corporation
  • BASF SE
  • ExcelVite Sdn. Bhd.
  • Functionalab Group
  • Glaxosmithkline Plc.
  • Inneov Spain SA
  • LycoRed Ltd.
  • PT. Vitabiotics Indonesia
  • Swisse Wellness PTY Ltd.
  • YOUVIT