The Global Nutracosmetic Market size is expected to reach $5.6 billion by 2028, rising at a market growth of 7.8% CAGR during the forecast period.
A combination of products for nutrition & personal care that promotes protection and renewal has given rise to nutracosmetics. Nutricosmetics are utilized to treat issues with the skin, hair, nails, and weight. These products are designed to promote hair growth, stop hair thinning, and increase hair volume. Nutraceuticals for nails are now readily available and assist to strengthen them & stop breaking. Both supplement & liquid forms of these items are used for consumption. Omega-3 fatty acids, probiotics, lutein, as well as vitamins (A, B6, and E) are a few of the main components of nutracosmetics.
These substances work as antioxidants by limiting and neutralizing the impacts of free radicals, giving skin anti-inflammatory defense against UV radiation. The growing interest in healthy aging is a significant driver of the worldwide nutracosmetics market's expansion, particularly among women. Another important factor driving the growth of nutracosmetic market is the growing popularity of nutracosmetics among older people. Demand for nutracosmetics is also fueled by the rapidly aging population base & rising health and wellness consciousness.
Nutritional cosmetics are now an essential part of people's daily lifestyles. Additionally, one of the main factors influencing the usage of nutracosmetics on the international market is the rise in consciousness about both internal and exterior attractiveness. In addition to women, males are now increasingly incorporating nutracosmetics into their daily routines, which is resulting in market expansion. Consequently, the expansion of the market is a result of changing lifestyles. Furthermore, women use nutracosmetics products extensively because they want to flaunt healthy, radiant skin, which boosts the market's growth. Additionally, it is predicted that throughout the forecast period, demand for herbal as well as natural skin nutracosmetics products will rise significantly.
Exporters in both developing, as well as developed countries, are facing a multitude of difficulties as a result of the coronavirus pandemic. The difficulties faced by exporters of nutracosmetics ingredients are anticipated to persist as governments and states strive to combat COVID-19 on a worldwide scale. Curfew implementation and the worldwide practice of keeping social distance have an impact on domestic as well as foreign manufacturing, which in turn slows market growth. As a result, the growth of nutracosmetic market was hampered by the COVID-19 outbreak.
Consumer disposable income is rising in several countries throughout the world. As a result, people are spending a lot of money on a variety of high-end products and cosmetics. Additionally, there is an increasing worldwide need for a wide range of cosmetic products. Customers are also choosing organic cosmetics like probiotics due to rising living standards and large expenditures made to improve their personalities & appearance. Due to the rising professionalism and number of working women around the world, both men's and women's desire for cosmetics will rise.
Customers are increasingly realizing that external skin care products aren't as effective as internal beauty enhancers designed specifically for the skin, hair, & nails to enhance and preserve beauty from the inside out. While encouraging natural and non-invasive measures against premature hairline receding, accelerated aging, as well as other skin-related concerns, consumer knowledge about the health advantages of balanced nutrition & supplementation is growing.
Besides having a number of benefits, the demand for nutracosmetics is expected to slow down because of the lack of consumer knowledge regarding the availability as well as advantages of nutracosmetics. The lengthier time of the product's outcomes for effective results is expected to cause more hurdles for the nutracosmetics market over the forecast period. The lack of customer trust in these products as a result of their recent availability has made it difficult for the nutracosmetics sector to expand. In underdeveloped nations, people are not much aware of the existence of such products due to a lack of resources.
Based on application, the nutricosmetic market is segmented into skin care, hair care, and nail care. The skin care segment dominated the nutracosmetic market by generating maximum revenue in 2021. The skincare segment is expanding because of offers that support professionally studied active ingredients as well as a preventive, holistic, & environmentally concerning philosophy. Moreover, new components for healthy skin, such as pycnogenol & lycopene, are entering the skin care market for nutracosmetics.
On the basis of demographic, the nutricosmetic market is fragmented into male and female. The male segment generated a substantial revenue share in the nutracosmetic market in 2021. The growth of the market in this segment can be attributed to the fact that many men prefer the thought of taking a pill or a supplement to address their skin care needs may be because of cultural pressures on males to adopt a practical, problem-solving mindset. Men want solutions that are well-positioned & clearly communicate the answer to their unmet needs.
By ingredient, the nutricosmetic market is divided into carotenoids, probiotics, vitamins and others. The probiotics segment covered a significant revenue share in the nutracosmetic market in 2021. Live bacteria known as probiotics have beneficial effects on the skin and digestive system. Probiotics are recognized for their relaxing properties & are effective for the skin. The market for probiotic cosmetic products may experience exponential growth due to rising knowledge about aesthetics, wellbeing, and health.
Based on distribution channel, the nutricosmetic market is classified into hypermarket and supermarket; specialty stores; pharmacies & drug stores; online sales channel and others. The online sales segment acquired a promising revenue share in the nutracosmetic market in 2021. This is because of the increasing penetration of the internet and the influence of social media all over the world. Also, the sale in this segment is increasing as various online distribution channels offer products from a wide range of brands with different prices which consumer can compare and then can choose the most suitable one for them.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 3.3 Billion |
| Market size forecast in 2028 | USD 5.6 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 7.8% from 2022 to 2028 |
| Number of Pages | 251 |
| Number of Tables | 460 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Ingredient, Application, Demographic, Distribution Channel, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the nutricosmetic market is analyzed into North America, Europe, Asia Pacific and LAMEA. The Europe region led the nutracosmetic market with the highest revenue share in 2021. In Europe, the nutracosmetic are increasingly demanded in the nations such as the UK and Italy. It is anticipated that Italians will continue to prefer skin care products with natural ingredients and active ingredients; another attribute that is highly desired is the product's ease of use and absorption.
Free Valuable Insights: Global Nutracosmetic Market size to reach USD 5.6 Billion by 2028
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 Geography
The Nutracosmetic Market size is projected to reach USD 5.6 billion by 2028.
Rising Spendable Income Of The Consumers are driving the market in coming years, however, Lack Of Awareness Among Population restraints the growth of the market.
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
The Carotenoids segment acquired maximum revenue share in the Global Nutracosmetic Market by Ingredient in 2021 thereby, achieving a market value of $2.4 billion by 2028.
The Female segment is leading the Global Nutracosmetic Market by Demographic in 2021 thereby, achieving a market value of $4.1 billion by 2028.
The Europe market dominated the Global Nutracosmetic Market by Region in 2021 thereby, achieving a market value of $1.9 billion by 2028.
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