Nutricosmetics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Nutricosmetics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The nutricosmetics market was valued at USD 6,925.49 million in 2020, and it is estimated to register a CAGR of 8.05% during the forecast period, 2021-2026.

Globally, more individuals are seeking out combination products that help them look and feel good inside and out, such as beauty-from-within such as joint health and healthy aging. Moreover, due to the COVID-19 pandemic conditions, there is a growing interest in botanical actives for beauty-from-within products. Factors, such as unhealthy skin, led by constantly wearing face masks, increased the demand for skin health supplements and attracted new consumers to opt for beauty supplements prior to the pandemic, significantly impacting the market growth during the study period.

The nutricosmetics market is driven by the rising consumer awareness regarding their skin problems, such as anti-aging, wrinkles, hair loss, scalp problems, etc., that are associated with various nutrient deficiencies leading to a paradigm shift toward preventive health management practices amid the rising healthcare costs and increasing burden of lifestyle diseases. Thus, insisting on the consumption of nutricosmetics across the world.

Furthermore, the robust demand for products that contain vitamins and omega-3, especially for skincare, holds a significant share in the market. Moreover, the beauty-from-within approach is garnering popularity among the millennial generation, as it is an attractive combination of beauty and health.

However, there is no clear demarcation for nutraceutical-based products, with variations across different countries. Thus, the complexity in regulatory, legislative, and technological aspects acts as a major hurdle for market growth.

Key Market TrendsSkin Care Holds a Prominent Share of the Market

The preventive, holistic, and eco-conscious approach is delivering escalated growth of the skincare segment, with offers that support clinically studied active ingredients. Additionally, the market for skincare in nutricosmetics is witnessing emerging ingredients for healthy skin, like pycnogenol and lycopene. Thus, in 2017, COR Group Italia launched an Indiegogo campaign for Lycomplete™, which acts against the effects of UVA-UVB. Moreover, players in the market are competing in innovations in terms of ingredients, product form, packaging materials, and others. In 2017, Nutrinovate combined Evolva’s Verite resveratrol and dissolvable film technology in its Reserol product range, which is available in a dissolvable oral film strip system. Companies operating in this segment are moving to incorporate naturally occurring active ingredients for clean alternatives, ranging from mushrooms in supplements to ground coffee in skin scrubs and seaweed in skincare. For instance, in 2020, Ajinomoto health and nutrition announced the launch of indigo marine collagen protein powder, which provides a simple way to help diminish the effects of aging while revitalizing skin.

North America is the Fastest Growing Market

North America is the fastest-growing region in the global nutricosmetics market. The consumers of the region, predominantly the United States and Canada, tend to be skeptical of the idea of “beauty foods” and are more likely to demand products like UV protection and wrinkle-smoothing products, creating a bullwhip in the product launch. For instance, in 2020, SDIN® launched SunISDIN™ Softgel Capsules to the US market, an advanced combination of antioxidants, vitamins, and an essential mineral, to prepare the skin to fight photoaging, prevent oxidative stress, and support general skin health. Furthermore, according to the American Hair Loss Association, by the age of thirty-five, two-thirds of American men will experience some degree of appreciable hair loss, and by the age of fifty, approximately 85% of men have significantly thinning hair. Thus, Viviscal debuted a line of mix-in powdered supplements to boost hair health for both men and women, diversely formulated with biotin and marine collagen. Thereby, manufacturers continuously introducing new product offerings with an aim to satiate the surging demand is projected to drive the market studied considerably.

Competitive Landscape

The global nutricosmetics market is highly competitive with the strong presence of regional and global players in the market, where the demand is mostly driven by beauty claims. Consumer awareness about brand know-hows is luring more start-ups into the market. For instance, in 2020, Care/of expanded into the beauty category with the launch of six new products, including collagen ingestible. Moreover, with the growing demand for nutricosmetics, players like GlaxoSmithKline PLC and Herbalife Limited, among others, are following various strategies like merger and acquisition and R&D to cater to the segment with a better storyline that connects consumers and delivers experiences with the product.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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