The global nutricosmetics market size was valued at $ 3,624.2 million in 2021, and is projected to reach $7,816.7 million by 2031, registering a CAGR of 7.7% from 2022 to 2031. Nutricosmetics are evolved from combination of products for nutrition and personal care that helps in rejuvenation and protection. Nutricosmetics are used to treat skin, hair, nail, and weight management problems. These products are formulated for hair growth and help reduce hair thinning and encourage hair volume. Available nutricosmetics for nails help to strengthen them and prevent breakage. These products are consumed in both supplement and liquid forms. Some of the key nutricosmetics ingredients include vitamins (A, B6, and E), omega-3 fatty acids, probiotics, and lutein. These ingredients act as antioxidants and function by controlling and cancelling effects of free radicals, providing skin with anti-inflammatory protection against ultraviolet radiation. Rise in trend of healthy aging is a major factor that boosts growth of the global nutricosmetics market, especially among women.
Rise in penetration of various online portals in developing regions and increase in number of offers & discounts attracts consumers to purchase cosmetic products through online channels. Moreover, online sales channels have increased consumer reach, owing to which it has evolved as a key source of revenue for many companies. Furthermore, the online sales market is expected to expand in the future, owing to rapid growth in online and mobile user customer bases in emerging markets. Increase in e-commerce sales, improvements in logistics services, ease in payment options, and facility to enter in new international markets for major brands further boost growth of the nutricosmetics market
The nutricosmetics industry has been segmented based on ingredient, application demography, distribution channel and region. Based on ingredient, the nutricosmetics market is bifurcated into carotenoids, probiotics, vitamins and others. Based on application, the market is divided into skin care, hair care and nail care. On the basis of demography, the market is categorized into male and female. By distribution channel the market is divided into hypermarket/supermarket, specialty stores, pharmacies & drug stores, online sales channel and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Major companies have adopted agreement, product launch, expansion, and merger strategies to sustain the intense market competition. The key players profiled in the report Amway Corporation, BASF SE., Blackmores Limited, GlaxoSmithKline PLC, Harbin Pharmaceutical Group Co., Ltd., Herbalife International of America, Inc., KORA Organics, Nutrova, Shiseido Company, Limited and Suntory Holdings Limited.
Rise in penetration of various online portals in developing regions and increase in number of offers & discounts attracts consumers to purchase cosmetic products through online channels. Moreover, online sales channels have increased consumer reach, owing to which it has evolved as a key source of revenue for many companies. Furthermore, the online sales market is expected to expand in the future, owing to rapid growth in online and mobile user customer bases in emerging markets. Increase in e-commerce sales, improvements in logistics services, ease in payment options, and facility to enter in new international markets for major brands further boost growth of the nutricosmetics market
The nutricosmetics industry has been segmented based on ingredient, application demography, distribution channel and region. Based on ingredient, the nutricosmetics market is bifurcated into carotenoids, probiotics, vitamins and others. Based on application, the market is divided into skin care, hair care and nail care. On the basis of demography, the market is categorized into male and female. By distribution channel the market is divided into hypermarket/supermarket, specialty stores, pharmacies & drug stores, online sales channel and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Major companies have adopted agreement, product launch, expansion, and merger strategies to sustain the intense market competition. The key players profiled in the report Amway Corporation, BASF SE., Blackmores Limited, GlaxoSmithKline PLC, Harbin Pharmaceutical Group Co., Ltd., Herbalife International of America, Inc., KORA Organics, Nutrova, Shiseido Company, Limited and Suntory Holdings Limited.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the nutracosmetic market analysis from 2021 to 2031 to identify the prevailing nutracosmetic market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the nutracosmetic market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global nutracosmetic market trends, key players, market segments, application areas, and nutracosmetic market growth strategies.
Key Market Segments
By Application
- Skin Care
- Hair Care
- Nail Care
By Demographic
- Male
- Female
By Ingredient
- Carotenoids
- Probiotics
- Vitamins
- Others
By Distribution Channel
- Hypermarket and Supermarket
- Specialty Stores
- Pharmacies and Drug Stores
- Online Sales Channel
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Switzerland
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest Of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- BASF SE
- Amway
- GlaxoSmithKline PLC
- Herbalife nutition ltd
- GNC Holdings, LLC
- Shiseido Company, Limited
- Pfizer
- KORA ORGANICS
- SUNTORY HOLDINGS LIMITED
- Blackmores Limited
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: NUTRACOSMETIC MARKET, BY INGREDIENT
CHAPTER 5: NUTRACOSMETIC MARKET, BY APPLICATION
CHAPTER 6: NUTRACOSMETIC MARKET, BY DEMOGRAPHIC
CHAPTER 7: NUTRACOSMETIC MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 8: NUTRACOSMETIC MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Nutracosmetic Market," the nutracosmetic market size was valued at $3.6 billion in 2021, and is estimated to reach $7.8 billion by 2031, growing at a CAGR of 7.7% from 2022 to 2031. Nutricosmetics evolve from a combination of products for nutrition and personal care that helps in rejuvenation and protection of body. They are used to treat skin, hair, nail, and weight management problems. These products are formulated for hair growth and help in reduce hair thinning and encourage hair volume. Available nutricosmetics for nails help to strengthen nails and prevent breakage of nails. These products are consumed in both supplement and liquid form.Convergence of advancements, beauty, and lifestyle propels growth of the nutricosmetics market. Moreover, the nutricosmetics market has witnessed continuous and sustained growth over the years, owing to rise in beauty-conscious female population. Several other factors such as increase in female labor force, rise in awareness regarding maintaining prolonged beauty, and change in lifestyle have significantly contributed toward growth of the nutricosmetics market. Furthermore, demand for herbal and natural skin nutricosmetics products is anticipated to increase at a substantial rate during the nutracosmetic market forecast period Hence, rise in awareness regarding fashion and natural skin products significantly propels nutracosmetic market growth.
Manufacturers are changing their product branding and advertising strategies to accelerate their sales across various countries. Innovative strategies such as new product launches with natural ingredients, regular nutricosmetics products, and innovative packaging have been adopted by manufacturing companies to increase sales of nutricosmetics products. As nutricosmetics have become an integral part of lives, consumers, especially women, prefer to use products, which are handy and easy to use while travelling or attending social meetings. Use of natural ingredients for manufacturing nutricosmetics products, which does not have any adverse effect on skin is a popular strategy of manufacturers to attract more customers. This also helps in increasing revenue of companies operating in this industry. Collectively, all these strategies adopted by manufacturers drive the global nutracosmetic industry.
The market in the Asia-Pacific offers lucrative nutracosmetic market opportunities for operating players, owing to presence of countries such as India, China, Australia, and New Zealand. Increase in adoption of western lifestyle, surge in population, and rise in disposable income of consumers majorly are the major nutracosmetic market trends. Moreover, increase in awareness regarding nutricosmetics products and its associated benefits have further augmented growth of the market. Developing regions offer potential growth opportunities to the market players for launching innovative nutricosmetics products. Moreover, countries in Latin America, such as Brazil, are anticipated to unfold attractive business opportunities, owing to increase in awareness regarding nutricosmetics products and its benefits.
Key Findings of the Study
- By ingredient, the carotenoids segment constituted a major nutracosmetic market share in 2021. However, the probiotics segment is projected to experience growth at the highest CAGR during the forecast period.
- By application, the skin care segment lead in terms of market share in 2021, and is expected to continue to grow with robust CAGR during the forecast period.
- On the basis of demography, the female segment held a major share in the market in 2021, and is projected to remain dominant during the forecast period. This is attributed to change in the mindset of individuals, along with increase in level of literacy among urban as well as rural population, which, in turn, has provided scope for awareness on nutricosmetics products.
- By distribution channel, the hypermarkets/supermarkets accounted for the highest market share in 2021, and is expected to grow at a significant CAGR during the forecast period.
- By region, Europe accounted for the highest market share in 2021, and is expected to grow at a significant CAGR during the forecast period.
- Major companies have adopted agreement, product launch, expansion, and merger strategies to sustain the intense market competition. Key players profiled in the nutracosmetic market analysis are Amway Corporation, BASF SE., Blackmores Limited, GlaxoSmithKline PLC, Harbin Pharmaceutical Group Co., Ltd., Herbalife International of America, Inc., KORA Organics, Nutrova, Shiseido Company, Limited, and Suntory Holdings Limited.
Companies Mentioned
- Basf Se
- Amway
- GlaxoSmithKline plc
- Herbalife Nutition Ltd
- Gnc Holdings, LLC
- Shiseido Company, Limited
- Pfizer
- Kora Organics
- Suntory Holdings Limited
- Blackmores Limited
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 280 |
| Published | June 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 3624.2 million |
| Forecasted Market Value ( USD | $ 7816.7 million |
| Compound Annual Growth Rate | 8.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
