The acceptance of nutritional supplements in various products for an individual is one of the most propelling factors that is expected to underpin the rise in the curve of growth for nutricosmetics market around the globe in the near future
Global nutricosmetics market, By Form Type (Powder, Liquid, Capsules, and Tablets), By Active Ingredients (Carotenoids, Vitamins, Omega-3, Collagen, Others), By Sales Channels (Wholesalers/Distributors, Online Retailers, Hypermarkets/Supermarkets, Pharmacy Stores, Specialty Stores, Convenience Stores, Others), By Applications (Skin Care, Hair Care, Nail Care) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2025.
The global nutricosmetics market is estimated for more than US$ 6.8 Bn in the year 2020 and expected to grow at a significant CAGR of 7.6% during the forecast period and expected to reach the value of more than US$ XX Bn in 2025.
As per the report, the term “Nutricosmetics” refers to the combination of two terms nutrition and cosmetics that assist in rejuvenation and grooming the personal appearance of the person along with health benefits with increased prominence on hair, nails, and skin.
The inclusion of nutritional supplements in cosmetics serves their utility in order to enhance the quality of the skin, hair as well as nails. These days, the consumers are extremely solicitous about their personal health, beauty, and diet and highly concerned about what they introduce to their body. Therefore, natural and organic products are gaining enormous momentum in recent past years which has also propelled the growth of the global nutricosmetics market.
In addition to that, there is a sudden rise in awareness among the population regarding harmful cosmetics products available in the market, which in turn is expected to accelerate the growth of the global for nutricosmetics market in the forthcoming future.
At present, there are numerous chemically synthesized cosmetic products available in the global market, which have certain harmful effects on the body.
Also, there are new advanced nutricosmetics products available comprising organic components, which is also playing a positive role in boosting the growth of the global nutricosmetics market.
Along with that, there are constant R&D activities in the respective field for further innovation and product enhancements that resultantly broaden the scope for the growth of the global nutricosmetics market in the upcoming years.
Furthermore, the rise in the beauty and health concerns across the globe is also expected to support the growth in the global nutricosmetics market. Although the inadequacy of knowledge and awareness among the population in few emerging regions may act as a barrier in the growth of the global nutricosmetics market during the forecast period.
Furthermore, small businesses are also broadening their scope in the domestic market at a rapid pace. Owing to their sustainable manufacturing processes and ingredients obtained from local sources are contributing to their increasing demand of the product among the population and thus, consumer’s desire are moving towards these brands.
Attributable to this, the global nutricosmetics market is estimated to grow rapidly in the near future. Additionally, the youth in present times are more inclined towards their beauty and personal care and trying new trends in the market, which is also giving a positive push to the growth of the global nutricosmetics market.
MMC study identifies some of the key participating players in the nutricosmetics market globally are Functionalab Group, BASF SE, Herbalife Nutrition Ltd., Pfizer Inc., LycoRed Ltd., Frutarom Industries Ltd., ExcelVite Sdn Bhd, Vitabiotics Ltd., and Shiseido Co. Ltd. among several others.
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