Beauty Drinks Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Beauty Drinks Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The global beauty drinks market is projected to register a CAGR of 11.92% during the upcoming five years.

The beauty drinks market was less impacted by the COVID-19 pandemic as more consumers stayed home, paying more attention to their health, including their beauty health. Staying at home also led consumers to shift their focus from makeup routines to nutricosmetics or toward low-maintenance and natural looks, which boosted the demand for beauty drinks during the COVID-19 pandemic. In addition, beauty drinks that were trending well before the pandemic have suddenly become more popular as more consumers seek out the latest information on what products can help in their beauty routine.

Among all the ingestible and topical combination products within the industry, beauty drinks are proving to be a highly palatable option in line with consumers growing preference for these products as well. The major reasons for the increased demand for beauty drinks include the increasing prevalence of lifestyle-related diseases and people consciously taking preventive healthcare measures. In addition, the market for beauty drinks is predominantly driven by consumers shifting toward preventive skincare as the aging population increases in developed countries. For instance, According to Cera Ve, 63 percent of millennial consumers in the United States took their skin care routine seriously, a slightly higher number compared to the 57 percent of Generation Z who claimed the same thing.

Beauty drinks have been witnessing robust demand, particularly from women, in order to eliminate the appearance of wrinkles and enhance beauty. Moreover, celebrities have been promoting the consumption of these drinks and their benefits, which is expected to drive market growth.

With the growing female population globally, there is a significant increase in awareness of beauty drinks, which help in anti-aging, making the skin more radiant, and minimizing the appearance of acne, scars, and pigmentation. Acne is the most common problem, especially in women. For instance, according to NHS, about 95% of people aged 11- 30 are affected by acne to some extent. Acne is most common in girls from the ages of 14 to 17. Owing to increasing awareness of beauty drinks that deliver healthy aging benefits with an emphasis on skin, hair, and nail beauty, there has been a growing demand for beauty drinks such as collagen-based drinks. This trend is due to the increased consumer awareness of the benefits of collagen peptides and tripeptides infused in human nutrition, which has gained traction in the nutrition and cosmetic markets and is contributing to the growth of nutri-cosmetic solutions across the world. With consumers’ growing desire to prevent premature aging and a growing preference for natural, safe, and effective beauty solutions, protein- and amino acid-derived nutri-cosmetics such as collagen drinks held a significant share in the nutri-cosmetics market. This trend has led key players in the nutraceutical market to expand their product portfolios to place themselves strongly in the beauty drinks market.

Constantly changing health trends and large amounts of easily available information on health and nutrition are blurring the lines of what products consumers use to maintain their health. For example, consumers who previously relied on traditional beauty products to maintain their appearance now look at vitamins and supplements to enhance their overall well-being.

Health is taking a backseat among the US population due to increasingly hectic work-life schedules. According to the American Academy of Dermatologists Association,84.5 million Americans — one in four — were impacted by skin disease. Skin disease costs the US healthcare system USD 75 billion in medical, preventative, and prescription and non-prescription drug costs. Acne is the most common skin condition in the United States, affecting up to 50 million Americans annually, leading to a need for nutri-cosmetic products, like beauty drinks. The major companies in the region are more focused on targeting consumers who appear to be more concerned regarding health and aging. The sales of beauty drinks in North America, especially the United States, are expected to increase tremendously due to increasing incidences of skin problems, hair fall issues, and the fashion industry's influence. To capture this opportunity, the beauty drink companies dominating the region are working toward growing their number of brands and increasing assortments. The rising trend of beauty shots aimed to improve the external appearance of consumers is leading to increased demand for beauty shots.

Global players, including SAPPE Public Company Limited, Shiseido Co. Ltd, Lacka Foods Limited, and Nestle SA (Vital Proteins Ltd), hold a minor portion of the market. New product launches, market expansions, and partnerships are the preferred strategic approaches most companies adopt in the beauty drinks business. Owing to product expansions and growing consumption of nutri-cosmectics, the global players in the beauty drinks market are adopting new product launches as their key strategy. The market studied is gaining high traction among consumers and manufacturers, which has led to expansions, and various companies are trying to gain a sustainable competitive advantage through innovation. Companies are focusing on R&D activities to enhance the shelf-life of their supplement products.

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