Global Nutricosmetics Market - 2023-2030

Market Overview

The Global Nutricosmetics Market reached US$ 8.5 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 17.4 billion by 2030. The market is growing at a CAGR of 9.3% during the forecast period 2023-2030.

Wellness and self-care have become increasingly important to consumers, and many are willing to invest in products that support their overall health and well-being. Nutricosmetics that promote healthy skin from within are seen as an important part of a holistic wellness and self-care routine.

Increase in the product launches by major key players of various beauty supplements such as anti-aging supplements, collagen supplements, antioxidant supplements, omega-3 supplements, probiotic supplements, vitamin supplements and mineral supplements.

Market Dynamics

Rising Global Geriatric Population is Driving the Market

The rising global geriatric population is a key driver of growth in the nutraceuticals market, as seniors seek products to help maintain or improve their health and quality of life. This demographic shift is expected to continue to drive demand for nutraceutical products in the coming years.

According to the World Health Organization, The percentage of people over 60 in the world will increase from 12% to 22% between 2015 and 2050 as the geriatric population is increasing demand for the nutricosmetics increase.

Increasing Awareness of the Link Between Nutrition and Skin Health

Increasing awareness of the link between nutrition and skin health has been a major driver of growth in the nutricosmetics market. Consumers are increasingly recognizing that a healthy diet and adequate nutrient intake can positively impact their skin's appearance and overall health.

This awareness has been fueled in part by a growing body of scientific research linking certain nutrients to skin health and increased media coverage of the topic. For example, studies have shown that antioxidants like vitamins C and E and carotenoids like beta-carotene can help protect the skin from damage caused by free radicals, which can contribute to the aging process.

COVID-19 Impact Analysis

The pandemic has accelerated the shift to e-commerce, as consumers have become more comfortable with online shopping. This has created opportunities for nutricosmetics companies to sell their products directly to consumers through digital channels. The pandemic has caused significant changes in consumer behavior, including increased time spent at home and a shift towards more natural and sustainable products.

Nutricosmetics companies may need to adapt their products and marketing strategies to reflect these changes. Overall, the nutricosmetics industry has been impacted by the pandemic, but there are also opportunities for growth as consumers prioritize health and wellness in the post-pandemic world.

Segment Analysis

The Global Nutricosmetics Market is segmented based on type, application, ingredient and region.

The supplements Segment has Been Witnessing Several New Entrants and Product Designs in the Market.

Nutricosmetics have been segmented by type, supplements, and functional food and beverages.

Companies such as Gelita AG, Functionalab, Herbalife Nutrition, Amway and Lucas Meyer Cosmetics are some of the leading players in the market. However, functional food & beverages segment is consolidated as regulatory requirements restrict this segment.

Increase in the product launches by majorkey players helps to boost segment growth over forecst period. For instance, September 22, 2022, Abbott launched nutritional supplement in the market whichh helps to boost muscle and bone strength. It is made from the ingredients HMB or B-hydroxy-B-methyl butyrate

Geographical Analysis

The Increasing Demand for Nutricosmetics Products in Asia Pacific

By region, the global nutricosmetics market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East and America.

The Asia Pacific nutricosmetics market is expected to experience significant growth due to increasing consumer demand for natural and organic beauty products, rising awareness of the link between nutrition and skin health, and the region's large and growing middle class.

India and China accounted for the largest market share due to the increased disposable income and spending on personal care products. Asian consumers, particularly women, are highly interested in beauty supplements and foods owing to their historic trust in herbal medicine and beauty concepts.

Competitive Landscape

The major global players include: Gelita AG, Functional, Herbalife Nutrition, Amway, Lucas Meyer Cosmetics, Vitabiotics Ltd., Origo Cosmeceuticals Private Ltd, GNC Holdings Inc, Sabinsa Cosmetics, Robis S.L.

Why Purchase the Report?

• To visualize the global nutricosmetics market segmentation based on type, application, ingredient and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of nutricosmetics market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Nutricosmetics Market Report Would Provide Approximately 61 Tables, 54 Figures And 195 pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies