The North America Nutracosmetic Market would witness market growth of 7.5% CAGR during the forecast period (2022-2028).
The rise in internet usage has resulted in a significant increase in the number of social media users. Taking that into consideration, nutracosmetics' stakeholders are actively involved in spreading the word about their products' advantages by utilizing social media platforms like Facebook & Instagram. Furthermore, using social media is among the methods used by different manufacturers to spread knowledge about their product offers among their target market on social media channels. Thus, the nutracosmetics companies are anticipated to gain different opportunities to improve client reach among its target groups via social media awareness approach.
The market for nutracosmetics is expanding as a result of convergence in technology, beauty, & lifestyle. A surge in the number of women who are conscious of their appearance has also contributed to the nutracosmetics market's consistent and sustained expansion over the years. A number of additional aspects include an increase in the number of women working, increased awareness of the need of keeping beauty for a long time, and changes in lifestyle. As a result, growing consumer knowledge of trendy and natural skin care products considerably fuels the demand for these products.
The demand for nutracosmetics is gradually increasing in the United States. This is because, in the United States, a large amount of money spent on cosmetics is now made online. Customers can now choose healthier options for themselves & the environment that were previously thought to be inaccessible because of changing lifestyles brought on by increases in income; this is propelling the market in the North America region toward significant growth.
The US market dominated the North America Nutracosmetic Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.2 billion by 2028. The Canada market is poised to grow at a CAGR of 10% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 9% during (2022 - 2028).
Based on Ingredient, the market is segmented into Carotenoids, Probiotics, Vitamins, and Others. Based on Application, the market is segmented into Skin Care, Hair Care, and Nail Care. Based on Demographic, the market is segmented into Female and Male. Based on Distribution Channel, the market is segmented into Hypermarket & Supermarket, Specialty Stores, Pharmacies & Drug Stores, Online Sales Channel, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Nutracosmetic Market is Estimated to reach $5.6 Billion by 2028, at a CAGR of 7.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include BASF SE, Amway Corporation, Pfizer, Inc., GlaxoSmithKline PLC, Blackmores Limited, Shiseido Company, Limited, Suntory Holdings Limited (Kotobuki Realty Co., Ltd.), and KORA Organics by Miranda Kerr Pty Ltd., Herbalife nutrition Ltd., and GNC Holdings, LLC
By Ingredient
By Application
By Demographic
By Country
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