Global nutricosmetics market is anticipated to record commendable growth between 2018-2026, growing at a CAGR of 11.43% over the forecast period.
Nutricosmetics are oral-based supplements used for maintaining skin health. They include substances like vitamin E and C, polypodium leucotomes, beta carotene, and tea polyphenols among others. Nutricosmetics are majorly used to treat hair, skin, and nail defects. They are also capable of protecting the body from harmful UV rays.
Growing consumer awareness regarding personal care and grooming, along with increasing disposable income are the key factors driving global nutricosmetics market growth. Lack of awareness and high product cost is restraining market growth in some developing nations.
Depending on the product type, the global nutricosmetics market is bifurcated into Carotenoid, Omega-3 Fatty Acid, Vitamin, and others.
The application landscape of the global nutricosmetics market is fragmented into Oral Care, Skin Care, Hair Care, Sun Protection, and others.
In terms of the geographical outlook, the global nutricosmetics market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
The key findings of the global nutricosmetics market report are listed below:
- In 2017, Europe held the largest market for nutricosmetics and is expected grow further over the forecast period.
- Based on product types, vitamins held the largest market share in 2016, followed by omega-3 fatty acids. The segment is expected to grow rapidly over the forthcoming years.
- In terms of application, skin care segment is expected to hold the largest market share (over 35%) among all application types throughout the forecast timeframe.
- Rising consumer awareness regarding skin health and grooming is positively impacting the skin care nutricosmetics segment.
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The latest research report suggests that the demand for collagen is expected to increase considerably over the coming years. However, consumers are also seeking natural collagen alternatives. Due to growing demand, manufacturers are focusing more on using vegan-friendly ingredients in nutricosmetics products. Notably, some non-animal sources ingredients include bamboo silica, white tea antioxidants, gooseberry extracts, and vegan phytoceramides among others.
Leading industry players in the global nutricosmetics market include Croda International Plc, Sanofi-Aventis, Pfizer Inc., BASF SE, ExcelVite, Lucas-Meyer Cosmetics, GlaxoSmithKline, Isocell SA, Denomega Nutritional Oils AS, and Funtionalab Inc. among others. The company profiles of these players are summarized in the report along with their product benchmarking, business overview, financials, and recent developments.
The report also offers an overview of global nutricosmetic market with respect to Porter’s five forces, industry trends, market forces, ecosystem analysis, competitive ranking analysis, and PEST analysis.