Nutricosmetics Market Overview:
Nutricosemetics have a rapidly growing market due to rising consumer awareness regarding personal care ingredients and a shift toward a preference for natural items. Market Research Future has analyzed several key drivers, and opportunities of the global nutricosmetics market and presented them with intelligent observations as well as forecasts for the period of 2024 to 2032.
The Nutricosmetics Market size was valued at USD 7,821.13 billion in 2023. The nutricosmetics industry is projected to grow from USD 8,320.11billion in 2024 to USD 13,314.14 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.05% during the forecast period (2024 - 2032).
Healthy, glowing skin is a strong aspirational quality for many consumers, and this has been a key driver of the rapidly expanding cosmetics and personal care sector. However, nutricosmetics has emerged within this sector and is growing at a rapid pace. Consumers are displaying a gradual shift toward the use of natural and simple ingredient-based products which are sometimes referred to as "skin food." Nutricosmetics are edible, but not recommended to do so as they are meant for skin application. However, this factor highlights the absence of any toxic or damaging skincare ingredients, thus driving the market. Micronutrients are often added to nutricosmetics to increase their efficacy.
Vitamin C, collagen, essential fatty acids and other safe to consume ingredients are being used in skincare products to increase efficacy. Moreover, increased environmental consciousness and the desire to simplify normally complex beauty items along with the huge demand for clean label products has significantly influenced the demand for nutricosmetics. Manufacturers are increasingly introducing new nutricosmetics with a variety of interesting ingredient combination designed to combat common skin issues as well as promote youthful looking healthy skin. Investments in research are also driving the market.
Although the market is full of positive impact factors as well as opportunities, consumers are also deterred from purchasing products due to fanciful claims of ingredients which are comparable to snake oil, i.e., may not actually have any real benefits, thus challenging market growth.
Key Players:
The global Nutricosmetics Market Companies report also includes profiles of leading market players such as Nutrikosm, Beiersdorf AG, Plandai Biotechnology, Procter & Gamble Co., L'Oréal S.A., Zea Skin Solutions Skincare, Calamansa, Nestle, and Laboratoire PYC to name a few.
Market Segmentations:
MRFR's segmentation of the market has been performed on the basis of nutrient, form, distribution channel, and region. Nutrients used in the production of nutricosmetics have been segmented into herbs & botanicals, essential fatty acids, vitamins & minerals, and others.
Forms of nutricosmetics have been segmented into cream, gel, liquid, powder, and others. Distribution channels by which nutricosmetics can be purchased have been segmented into store-based and non-store based. The growth of e-commerce has globalized the market making nutricosmetics from other countries available to consumers around the world, thus driving global sales.
Regional Analysis:
The Asia Pacific has a significant cosmetics sector which has put it in a favorable position in the nutricosmetics industry. The APAC market has the most significant share of the global market due to the rising awareness among consumers regarding nutritional, cosmetic products. A natural affinity in the region for the use of natural products particularly in countries such as India and China are expected to boost the market in the coming years. Moreover, the region has a concentration of emerging economies with a rising per capita income, thus boosting the demand for nutricosmetics in the region. The Asia Pacific market is also expected to witness the fastest growth with the highest CAGR during the forecast period. South Korea and Taiwan are among the leading country-level markets in the region.
Latest Industry News:
- Cosmetics giant L'Oreal is launching several organic skin care treatments under its Garnier brands in an effort o expand sluggish growth.
- Actress Kelly Preston is set to launch her nutricosmetics organic beauty brand dubbed Breathe toward the end of the year.
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