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The nutricosmetics market is estimated to grow at a CAGR of 3.65% between 2022 and 2027. The size of the market is forecast to increase by USD 847.3 million. The growth of the market depends on serval factors, including health benefits offered by nutricosmetics, the growing demand for clean-label products for skincare, and the rise in the aging population.
This report extensively covers market segmentation by product (dietary supplements, food, and beverages), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The reports categorize the global nutricosmetics market as a part of global the global personal products market. The global personal products market covers products and companies engaged in research and development, and the production of personal and beauty care products, including cosmetics and perfumes. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
Health benefits offered by nutricosmetics are notably driving the market growth, although factors such as the availability of substitute products may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Nutricosmetics Market Driver
Health benefits offered by nutricosmetics are notably driving the nutricosmetics market growth. Consumers prefer beauty care products and dietary supplements, which offer various health benefits. Nutricosmetics are considered an ideal nutritional supplement to a balanced dietary plan and contribute to maintaining an overall healthy lifestyle. Nutricosmetics offer benefits such as preserving beauty, controlling photoaging, and providing sun protection. They also offer benefits such as softening wrinkles and improving skin elasticity. They easily fit into daily routines and beauty regimens, promising visible results with relatively low effort. Besides, nutricosmetics containing collagen peptides can help to reduce wrinkles under the eyes.
Photoaging occurs due to the exposure of the skin to UV light, and it contributes significantly to the visible signs of aging, such as brown spots and deep wrinkles. Nutricosmetics contain antioxidants such as vitamins C and E, lycopene, green tea polyphenols, beta carotene, and cocoa flavanols, which protect the skin from damage caused by UV light. It is essential to maintain collagen in the skin to delay the signs of aging. Nutricosmetics are used as ingredients in food supplements for treating arthritis and ensuring healthy joints. Therefore, the various health benefits offered by such cosmetics will encourage more consumers to buy them and accelerate the growth momentum of the market in focus during the forecast period.
Key Nutricosmetics Market Trend
Growth in online retailing is a major trend in the global nutricosmetics market. The online market for nutricosmetics has witnessed significant growth since 2014. The growth of online retail sales channels and the adoption of the multichannel business model have fueled market growth globally. Certain vendors, such as Nestle, sell their products both through physical stores and online portals. Online sales channels widen the visibility of nutricosmetics, which, together with the availability of a wide product portfolio, contribute to the growth of online retailing of nutricosmetics. The success of online retailing can be attributed to customer reach and inventory management cost-cutting.
Though the online segment occupies a lower percentage of the global nutricosmetics market, the segment is expected to witness faster growth in comparison with the offline segment. Increased internet connectivity, growing adoption of mobile Internet devices, and rising consumer awareness regarding online retailing have contributed to the growth of online sales of personal products, consequently driving both demand and sales in the global nutricosmetics market. The rise in smartphone adaptability and access to the web domain has helped consumers purchase personal products online. The growing hectic lifestyle and the resultant lack of time restrict users from opting for offline shopping of personal products. This prompts users to favor online shopping portals for the purchase of nutricosmetics. Owing to the above-mentioned factors, the growth in online retail sales is expected to lead to a rise in demand in the global nutricosmetics market during the forecast period.
Key Nutricosmetics Market Challenge
The availability of substitute products is a major challenge impeding the global nutricosmetics market growth. Skincare products are being widely used by individuals across the world. Consumers buy beauty products such as anti-aging creams, moisturizing creams, cleansers, and rehydrating creams to avoid wrinkles on the skin. Vendors offering these products are expanding their product portfolio by launching new variants.
The increasing availability of such skincare products can affect the adoption and sales of nutricosmetics during the forecast period. As many consumers prefer using skincare products externally, the demand for skin care products such as creams, gels, and oils, which are applied externally, is likely to increase. Substitute products are priced less than nutricosmetics. These factors can hamper the potential growth of the global nutricosmetics market during the forecast period.
Key Nutricosmetics Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Nutricosmetics Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
LOreal SA - The company operates under multiple segments including consumer products and active cosmetics among others, with a high focus on consumer products. The company under this segment?operates four major global brands L'Oreal Paris, Garnier, Maybelline New York, and NYX Professional Makeup, and the deployment of its specialized and regional brands like Stylenanda, Essie, Dark and Lovely. The company's key offerings include?nutricosmetics.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the dietary supplements segment will be significant during the forecast period. Dietary supplements dominated the global nutricosmetics market in 2022. Nutricosmetics dietary supplements have anti-aging properties. They are available in the form of capsules, pills, powders, gels, and extracts in the market. Nutricosmetics dietary supplements available as powders can be added to water, juices, and smoothies. They are also available in convenient packs for easy storage and carrying.
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The dietary supplements segment shows a gradual increase in the market share of USD 3,129.83 million in 2017 and continued to grow until 2021. Nutricosmetics dietary supplements contain proteins, minerals, and vitamins, which promote beauty and skincare. They contain nutrients that protect the hair, skin, and nails from aging and the damaging effects of ultraviolet (UV) rays. Moreover, they are available as over-the-counter drugs. Numerous factors, such as growing health issues, changing lifestyles, and dietary habits, have been driving dietary supplement demand. An increase in the number of global sports events encourages athletes to focus on physical strength. Moreover, the dietary supplements segment is witnessing various product launches FOSHU-certified dietary supplements ensure that the product is officially approved to use by consumers. The specified use of the new dietary supplement is to prevent skin dryness. Vendors are launching plant-based variants of nutricosmetics dietary supplements. Product launches in the dietary supplement segment will increase the demand for nutricosmetics dietary supplements and accelerate the growth momentum of the market in focus during the forecast period.
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APAC is projected to hold a share of 40% by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Consumers in the countries of this region are aware of the health and beauty benefits offered by nutricosmetics, and this awareness can positively influence the growth of the market in focus. Some vendors operating in the food and beverages segment in the region are expanding their product offerings by launching new nutricosmetics products. Product launches will increase the sales of nutricosmetics in the region and fuel the growth of the market. Some of the prominent vendors offering nutricosmetics in the region are Pfizer, Borba, and Nestle SA (Nestle).
The growing adoption of nutricosmetics is luring vendors to APAC. Such expansions by vendors operating in the market in focus can increase the sales of nutricosmetics and accelerate the growth momentum of the market in the region during the forecast period. The outbreak of COVID-19 hampered the steady growth of the regional market in 2020. However, in late 2020, COVID-19 vaccines were introduced in the region, which led to the relaxation of lockdown restrictions. Consumer preference also shifted toward online sales channels. The adoption of online platforms for the distribution of non-essential items, including nutricosmetics products, and the reopening of manufacturing units with a reduced workforce supported the recovery of the regional market in 2021.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Product (Dietary supplements, Food, and beverages), Distribution Channel (Offline and Online), and Geography (APAC, Europe, North America, South America, and Middle East and Africa).
Nutricosmetics Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.65% |
Market growth 2023-2027 |
USD 847.3 million |
Market structure |
Fragmented |
YoY growth (%) |
3.39 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 40% |
Key countries |
US, Japan, China, UK, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ActivInside, Air Liquide SA, Amway Corp., BASF SE, Beiersdorf AG, Blackmores Ltd., Fit and Glow Heathcare Pvt. Ltd., FunctionaLab, Herbalife Nutrition Ltd., International Flavors and Fragrances, Isocell North America Inc., Lonza Group Ltd., Miranda Kerr Pty Ltd., Nestle SA, NEXIRA, Reviderm AG, Shiseido Co. Ltd., Vitabiotics Ltd., LOreal SA, and Suntory Holdings Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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