Nutricosmetics Market
Growth Factors of Nutricosmetics Market
The nutricosmetics market size were valued at USD 6.45 billion in 2022, and the market is now projected to grow from USD 6.84 billion in 2023 to USD 11.24 billion by 2030, exhibiting a CAGR of 7.36% during the forecast period of 2023-2030.
The COVID-19 pandemic led to reduced consumption of beauty products as people stayed home and limited socialization. With many businesses closed and a large portion of the workforce working remotely, consumers focused on purchasing essential items, reducing spending on non-essential products like chemical cosmetics. However, the impact on beauty product sales was marginal compared to other cosmetic categories.
The popularity of chemical cosmetics containing harmful ingredients like parabens is declining among health-conscious consumers. Studies, such as research from the University of Texas in 2022, have linked endocrine-disrupting chemicals in beauty products to cancer and other health issues. As a result, skincare specialists are recommending products made from natural ingredients. This shift toward healthier, natural cosmetics is expected to grow as consumers become more conscious of their skin and overall health.
Consumers, particularly the younger generation, are embracing trends like ""skin minimalism,"" focusing on essential beauty products for targeted skin concerns. This approach helps reduce skin irritation and sensitivity by using fewer products. As a result, more people are switching to simpler routines that nourish and protect the skin. The popularity of these minimalistic, targeted products is growing among both younger and older consumers globally.
Comprehensive Analysis of Nutricosmetics Market
The nutricosmetics market growth are rising at an exponential rate due to its market segmentation. This market expansion rightly provides a thorough market breakdown near to the industry considering the leading supply and demand forces. These segmentations are methodically segregated by form analysis, by application analysis and by distribution channel analysis. By form analysis include tablets, capsules, powder, and others. By application analysis include skin, nails, and hair. By distribution channel analysis include supermarkets/hypermarkets, drug stores, specialty stores, online retail stores, and others.
The Asia Pacific region lead the nutricosmetics market share by benefitting a market size of USD 4.54 billion in 2022 due to strong cultural focus on holistic wellness.
The top players in the markets have a central responsibility in the food & beverages industry to be sure of industrial prospectus development and to establish the market norms. These players include, Biocyte Laboratory, Herbalife Nutrition, Vitabiotics, Ducray Dermatological Laboratories, D-LAB NUTRICOSMETICS, Skinade, Zenement, Kapiva, TERRAVITA, Amorepacific these market players provide a level-playing competitive landscape.
In May 2023, Netherlands-based HyaCera launched a vegan skincare supplement priced at USD 54 for 30 capsules, targeting consumers seeking smooth skin and full body moisture.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Unit Value (USD Billion)
Growth Rate CAGR of 7.36% from 2023 to 2030
Segmentation By Form
Tablets
Capsules
Powder
Others
By Application
Skin
Hair
Nail
By Distribution Channel
Supermarkets/Hypermarkets
Drug Stores
Specialty Stores
Online Stores
Others
By Geography
North America (By Form, Application, Distribution Channel and Country)
- U.S. (By Application)
- Canada (By Application)
- Mexico (By Application)
Europe (By Form, Application, Distribution Channel and Country)
- Germany (By Application)
- France (By Application)
- U.K. (By Application)
- Spain (By Application)
- Italy (By Application)
- Rest of Europe (By Application)
Asia Pacific (By Form, Application, Distribution Channel, and Country)
- China (By Application)
- India (By Application)
- Japan (By Application)
- Australia (By Application)
- South Korea (By Application)
- Rest of Asia Pacific (By Application)
South America (By Form, Application, Distribution Channel and Country)
- Brazil (By Application)
- Argentina (By Application)
- Rest of South America (By Application)
Middle East and Africa (By Form, Application, Distribution Channel and Country)
- South Africa (By Application)
- UAE (By Application)
- Rest of the Middle East & Africa (By Application)
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