CAGR: 8%Current Market Size: USD 7.5 BillionFastest Growing Region: North America
Largest Market: EuropeProjection Time: 2023-2030Base Year: 2022
The global nutricosmetics market is expected to grow from USD 7.5 billion in 2022 to USD 13.8 billion by 2030, at a CAGR of 8% during the Projection period 2023-2030. The growth of the nutricosmetics market is mainly driven by the increasing preference of consumers.
Nutricosmetics are vitamin, mineral, amino acid, botanical extracts, and antioxidant-rich nutritional supplements. They aid in the absorption of nutrients and active chemicals into the bloodstream, where they are circulated throughout the body to boost the body's natural production of vital components. They also nourish the skin's structure from within, maintain a healthy skin renewal rate, protect the skin from environmental stresses, and regulate metabolic responses that can cause skin aging. Nutricosmetics are currently gaining popularity around the world as they supplement topical skincare treatments to improve overall physical appearance. Nutricosmetics have an immediate and long-term impact on the general health and look of the skin, hair, and nails. The increased emphasis on physical appearance and the rising desire for natural beauty products are two significant drivers driving the worldwide nutricosmetics market. Furthermore, when aging defense mechanisms (ADMs) performance declines with age, the skin becomes more sensitive to the detrimental impacts of ageing aggressors. In addition, in response to the growing working population and individuals' hectic lifestyles, top firms are producing smaller-sized product varieties in convenient packs. As a result, the market is expected to grow in the next years.
Sample Request: - Global Nutricosmetics Market
Market Dynamics:
Drivers:
Nowadays, customers prefer natural products for skin care and excellent health over synthetic formulations. Leading cosmetic firms are increasingly using herbal ingredients to make cosmetics and dietary supplements, which is propelling the nutricosmetics market forward. The substances used in nutricosmetic products are derived from nature and are safe for the skin and health. The expanding elderly population is concerned about their appearance and seeks to change their lifestyle to appear younger. Consumers are becoming more aware of the link between health and diet, which is propelling the market's growth.
Restraints:
Many undeveloped countries are ignorant of the benefits of these nutricosmetics products, as well as their market availability. The market's good aspects have yet to be widely embraced. People are still unaware of these goods' health benefits. Various legislative and regulatory complications, as well as other technological concerns, are impeding the growth of the nutricosmetics industry. Another impediment is the absence of differentiation between several products based on nutraceuticals utilized in different locations.
Opportunities:
The growing demand for nutricosmetics by women for their facial beauty, skin, and hair has a substantial impact on the market. Skin care requires vitamin A, vitamin D, and omega-3 fatty acids. Because the combination of health and beauty is continually evolving, the concept of beauty from within emerges. People nowadays are increasingly concerned about skin-related disorders such as wrinkles, hair loss, and scalp problems caused by vitamin deficiencies, thus they prefer to take preventive healthcare management measures. All of these reasons create the potential for the nutricosmetics industry to grow.
Challenges:
Several cosmetics firms are trying to innovate. They encounter challenges in terms of packaging material, product shapes, and ingredients. Because of the market stoppage caused by the Covid-19 epidemic, nutricosmetic companies have suffered massive losses. They also ran out of supplies during the Covid-19 outbreak. All of these reasons pose a threat to the growth of the nutricosmetics market.
Segmentation Analysis:
The global nutricosmetics market has been segmented based on product type, distribution channel, application, and region.
By Product Type
The product type segment is vitamins, carotenoids, omega 3 fatty acids, and others. The caretenoids segment led the largest share of the nutricosmetics market with a market share of around 37.8% in 2022. Carotenoids are antioxidants that can help you avoid sickness and boost your immune system. Carotenoids that are provitamin A can be transformed into vitamin A, which is required for growth, immune system function, and eye health.
By Distribution Channel
The distribution channel segment is online and offline. The online segment led the largest share of the nutricosmetics market with a market share of around 65.63% in 2022. The segment's growth is being driven by the increasing penetration of the internet. The sale of nutricosmetics through online retailers such as Amazon and Flipkart is fast expanding, contributing to the segment's growth.
By Application
The application segment is skincare, haircare, personal care, weight management, and others. The skincare segment led the largest share of the nutricosmetics market with a market share of around 38.3% in 2022. With products that support empirically studied active ingredients, the preventative, holistic, and eco-conscious approach is promoting the growth of the skincare market. Furthermore, developing components for healthy skin, such as pycnogenol and lycopene, are being introduced into the nutricosmetics skincare industry. Consumers' preferences are shifting towards skin-care products containing nutrients such as vitamin A, vitamin D, and omega-3 fatty acids, which have been linked to improved skin health, providing producers with several opportunities to innovate. Furthermore, market participants compete in terms of ingredients, product form, packaging materials, and other developments.
Global Nutricosmetics Market - Sales Analysis.
The sale of the nutricosmetics market expanded at a CAGR of 6.7% from 2016 to 2022.
Nutricosmetics are beauty-enhancing functional foods and nutritional supplements that are used orally by customers. They function as nutritional supplements to care for the nails, skin, and hair, resulting in natural beauty. Nutricosmetics are created by combining several nutrients that promote the structure and function of the skin without causing negative effects. Vitamins C, A, and E, as well as collagen, proteins, minerals, peptides, carotenes, and omega-3 fatty acids, are utilised to create nutricosmetics that serve as antioxidants and help lessen the impact of free radicals on the skin. These nutrient-based solutions promote collagen formation and protect the skin from UV radiation. The increased popularity and knowledge of healthy ageing, particularly among women, is raising demand in the nutricosmetics market.
Various studies and advancements are being carried out in order to use organic nutrients in beauty products. Manufacturers invest heavily in various research projects in order to accelerate the growth of nutricosmetics. The expanding geriatric population's demand for cosmetic help, the necessity for organic products, and changes in customer tastes are projected to drive market expansion.
Thus, owing to the aforementioned factors, the global nutricosmetics market is expected to grow at a CAGR of 8% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the nutricosmetics market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Europe region dominated the nutricosmetics market and held a 37.5% share of the market revenue in 2022.
Global Nutricosmetics Market - Country Analysis:
Germany's nutricosmetics market size was valued at USD 0.72 billion in 2022 and is expected to reach USD 1.37 billion by 2030, at a CAGR of 8.4% from 2023 to 2030. Because of the growing popularity of anti-aging products. European countries such as Germany are actively engaging in the growth of the worldwide Nutricosmetics Market.
China’s nutricosmetics market size was valued at USD 0.36 billion in 2022 and is expected to reach USD 0.86 billion by 2030, at a CAGR of 8.2% from 2023 to 2030. The Asia-Pacific market also accounts for a sizable portion of the overall industry, owing to the high consumption rates of these items in China. The growing acceptance of nutricosmetics products, particularly herbal supplements, in the China has been identified as the most significant rendering driver for this region.
India's nutricosmetics market size was valued at USD 0.60 billion in 2022 and is expected to reach USD 0.67 billion by 2030, at a CAGR of 8.1% from 2023 to 2030. India is a famous country with a reasonable pace of growth in the worldwide market. Increasing demand for cosmetics coupled with nutrients in the nutricosmetics sector results in the rise of the Nutricosmetics Market in various developing economies such as India.
Key Industry Players Analysis:
To increase their market position in the global nutricosmetics market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
8% |
Market Size |
7.5 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Product Type, By Distribution Channel, By Application, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Cargill, Incorporated, DuPont, Nestle, L'Oreal International, Skinside AG, Croda International Plc, Pfizer Inc., Ashland, and Vitabiotics Ltd. |
By Product Type |
|
By Distribution Channel |
|
By Application |
|
Regional scope |
|
Scope of the Report
Global Nutricosmetics Market By Product Type:
Global Nutricosmetics Market By Distribution Channel:
Global Nutricosmetics Market By Application:
Global Nutricosmetics Market By Region:
Global nutricosmetics market is expected to reach USD 13.8 billion by 2030.
The nutricosmetics market is projected to have a CAGR of 8%.
Based on the product type, the nutricosmetics market is segmented into vitamins, carotenoids, omega 3 fatty acids, and others.
Nowadays, customers prefer natural products for skin care and excellent health over synthetic formulations. Leading cosmetic firms are increasingly using herbal ingredients to make cosmetics and dietary supplements, which is propelling the nutricosmetics market forward. The substances used in nutricosmetic products are derived from nature and are safe for the skin and health. The expanding elderly population is concerned about their appearance and seeks to change their lifestyle to appear younger.
Leading market players active in the global nutricosmetics market are Cargill, Incorporated, DuPont, Nestle, L'Oreal International, Skinside AG, Croda International Plc, Pfizer Inc., Ashland, Vitabiotics Ltd. among others.
Political Factors- Product safety is a major concern in the global beauty and cosmetics sector, owing mostly to product-to-skin contact. There is a measure in the United States called "the Personal Care Product Safety Act" that is quite strict with regulations that allow the FDA to adopt more stringent rules and policies addressing product safety. Companies must report their product ingredients and must be registered manufacturers. Furthermore, many businesses import raw materials or finished goods and sell them in other nations. They must all adhere to the legal criteria established by the country's policy. For example, Canada and the European Union have a policy of mentioning ingredients, and over 500 corporations have been barred from doing so (Buscher, 2021).
Economic Factors- Unlike other industries, the beauty or cosmetic industry is very resistant to economic downturns. The industry weathered the Great Recession of 2008. Consumers, on the other hand, have become price-sensitive and carefully select the necessary item. In 2015, the cosmetics sector in the United States generated more than $56 billion in revenue. Not only women, but even men, are spending more on skincare and haircare. Furthermore, the cosmetics industry accounts for more than 14% of the market. People are now spending more money on the skincare and cosmetics businesses (Frue, 2018).
Social Factors- Many companies, such as Loreal and Bodyshop, have carefully planned their CSR initiatives over the years. Loreal recently delivered millions of lotions and sanitizers for local and front-line personnel. When it comes to social media platforms, people today are more beauty conscious than ever before. Skincare and cosmetics are the newest fashion trends. When a brand is well-known, such as Mac, Loreal, or Bodyshop, companies must exercise caution in deciding what and how to market. Bodyshop has positioned itself as not testing its products on animals. Because consumers are becoming more morally sensitive, Loreal had to remove "whitening" items or terms from their products (Momin, 2021).
Technological Factors- Popular cosmetic firms like as Maybelline, Loreal, Mac, and others recognised the value of brand image in establishing themselves in the worldwide market. Cosmetic firms are increasingly investing in virtual and physical technology to provide consumers with beautiful products. Advanced technology reigns supreme and assists firms in broadening their public perception. Cosmetic companies employ a variety of online training, material, and influencers to increase product demand. Influencers create videos using products that are visual material that many women across the world like and share.
Environmental Factors- In terms of business innovation, cosmetic companies are facilitating their goals of developing sustainable and ecologically responsible businesses. They have conceived, devised, and implemented numerous strategies to reduce greenhouse gas emissions at manufacturing facilities such as plants and distribution centres. Maybelline has set a measurable goal of lowering CO2 emissions by 60%. The company's next initiative is to cut water consumption. The corporation has also calculated its use and plans to cut it by 11%.
Legal Factors- Ingredients are a perplexing aspect of the cosmetics industry. The businesses must be FDA registered. No business can function without FDA permission. The Federal Food, Drug, and Cosmetics Act (FD&C) and the Fair Packaging and Labeling Act (FPLA) are enacting laws that every company in the field must follow. The FD&C also keeps track of the components' consumption and guarantees that there is no misrepresentation. Many businesses may be barred from operating if they fail to provide sufficient proof in accordance with laws and regulations (Frue, 2018).
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