Indonesia Nutricosmetics Market, By Product Type (Vitamins, Carotenoids, Omega-3 Fatty Acids, Others), By Form (Liquid, Solid), By Application (Skin Care, Hair Care, Oral Care, Sun Protection, Other)
Indonesia Nutricosmetics Market, By Product Type (Vitamins, Carotenoids, Omega-3 Fatty Acids, Others), By Form (Liquid, Solid), By Application (Skin Care, Hair Care, Oral Care, Sun Protection, Other)
The expansion and consumer awareness of personal grooming, as well as the busy lifestyles of Indonesia's growing urban population, are driving the market for nutricosmetics in the Indonesia country. Nutricosmetics are health products mainly used for the treatment of hair, nail, and skin defects, photoaging, and sun protection. Photoaging is a type of aging mainly caused by exposure to ultraviolet (UV) light, which causes brown spots and deep wrinkles.
Market Dynamics
The rising penetration of cosmetic products in Indonesia ountry also supports the Indonesia nutricosmetics market's growth. For instance, according to Indonesia's National Agency of Drug and Food Control (BPOM RI), within a year (2021-2022), the number of cosmetic companies in the country increased by over 20%, from 819 to 913 entities. Moreover, Personal care is also the product category that has received the most distribution licenses fromBADAN PENGAWAS OBAT DAN MAKANAN OR BPOM in Indonesia in the last 5 years, with an astounding 411,410 products launched the Indonesia nutricosmetics market.
Some of the key drivers fueling the growth of the nutricosmetics market are rising retail shops across the globe, growing consumer awareness about the prevention of pre-mature skin aging.The growing availability of nutricosmetics due to the rising popularity of e-commerce is another major driver for the Indonesian nutricosmetic market.
There is a lack of a clear and definitive regulatory structure for nutricosmetics, which creates safety concerns among consumers. This is expected to hamper the market growth. The nutricosmetics market is also slowed down by outdated regulations in the Indonesia country. The National Agency of Drug and Food Control still uses references from the Health Supplements 2005 rules, which have not been updated with respect to permitted claims or ingredients. Furthermore, there are restrictions on the use of new ingredients, which is expected to hamper the market growth.
Key features of the study:
This report provides an in-depth analysis of the Indonesia nutricosmetics market, market size (US$ Million), and Compound Annual Growth Rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the Indonesia nutricosmetics market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
The key companies covered as a part of this study are Amway Corporation, BASF SE, ExcelVite Sdn. Bhd., Functionalab Group, Glaxosmithkline Plc., Innéov Spain SA, LycoRed Ltd., PT. Vitabiotics Indonesia, Swisse Wellness PTY Ltd., and YOUVIT
Insights from this report would allow marketers and the management authorities of companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The Indonesia nutricosmetics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analysing the Indonesia nutricosmetics market.
Indonesia Nutricosmetics Market Detailed Segmentation:
By Product Type:
Vitamins
Carotenoids
Omega-3 Fatty Acids
Others
By Form
Liquid
Solid
By Application
Skin Care
Hair Care
Oral Care
Sun Protection
Others
Company Profiles
Amway Corporation
BASF SE
ExcelVite Sdn. Bhd.
Functionalab Group
Glaxosmithkline Plc.
Innéov Spain SA
LycoRed Ltd.
PT. Vitabiotics Indonesia
Swisse Wellness PTY Ltd.
YOUVIT
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Market Snippet, By Product Type
Market Snippet, By Form
Market Snippet, By Application
Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Drivers
Supply Side Drivers
Demand Side Drivers
Economic Drivers
Restraints
Market Opportunities
Regulatory Scenario
Industry Trend
PEST Analysis
PORTER’s Analysis
New Product Approvals/Launches
Promotion and Marketing Initiatives
4. Indonesia Nutricosmetics Market - Impact of Coronavirus (COVID-19) Pandemic
Overview
Factors Affecting Indonesia Nutricosmetics Market - COVID-19