Nutricosmetics Global Market Report 2024

The nutricosmetics market has grown strongly in recent years. It will grow from $6.84 billion in 2023 to $7.51 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The expansion observed in the historical period was driven by regulatory shifts, endorsements from influencers and celebrities, ongoing market innovations, increased demand for anti-aging solutions, and the growing embrace of the "beauty from within" concept.

The nutricosmetics market is expected to see strong growth in the next few years. It will grow to $10.51 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The anticipated growth in the forecasted period is linked to advancements in research and development, shifts in consumer lifestyles, the integration of digital marketing strategies, demographic changes such as an aging population, and a heightened focus on environmental sustainability. Key trends expected in this period encompass an emphasis on transparency and trust, the rise of personalized nutrition approaches, increased digital influence, tailored beauty solutions, ongoing product innovation, and the implementation of AI-based solutions.

The anticipated growth in the nutricosmetics market is propelled by heightened consumer awareness regarding skin and hair issues. Skin problems encompass various conditions causing rashes, inflammation, or itching, while hair problems include scalp issues and hair loss. Consumers' increased consciousness about these concerns leads to a greater inclination towards nutricosmetics - scientifically backed oral supplements promoting skin health and beauty. Notably, sales trends from January 2021, as shared by Automat.ai, reveal a 13% increase in skincare product sales compared to a 1% rise in makeup sales. Online beauty merchants experienced a 24% growth, predominantly driven by skincare sales, signifying the growing influence of skin and hair concerns on the nutricosmetics market.

The expanding segment of the aging population is a significant driver behind the nutricosmetics market's growth. As the proportion of elderly individuals grows globally, the adoption of nutricosmetics among this demographic rises. These supplements become integral to their beauty and wellness routines, addressing age-related skin concerns and complementing traditional skincare practices. Data from the World Health Organization and the UK Parliament's House of Commons Library indicate a notable surge in the elderly population globally and in the UK, underlining the pivotal role of the aging populace in propelling the nutricosmetics market.

Innovations in product development stand as a prominent trend shaping the nutricosmetics market's growth trajectory. Key industry players are dedicated to crafting innovative offerings to fortify their market presence. For instance, Neutrogena's January 2023 launch of Nourished x Neutrogena Skin360 SKINSTACKS exemplifies this trend. Leveraging AI technology, this customized skin care supplement creates tailored 3D-printed gummies, addressing individual skin needs based on the user's selfies and skincare goals. The technology analyzes skin metrics such as smoothness, luminosity, and fine lines, providing a personalized blend of nutrients to address specific skin concerns, showcasing the innovative strides within the nutricosmetics sector.

Major players in the nutricosmetics market focus on launching products, such as Herbalife SKIN LycoGlow, meeting the burgeoning consumer demand for comprehensive skincare solutions. Herbalife Skin LycoGlow, introduced in June 2021, is a plant-based supplement enriched with natural extracts such as tomato and rosemary, offering antioxidant protection against free radicals. This product's emphasis on plant-powered skincare resonates with consumers seeking ingestible skincare solutions, catering to the evolving demand for holistic and natural-based skincare regimes.

In May 2021, Seppic, a subsidiary of the Air Liquide group and a leading supplier of specialty chemical products for health and wellness, acquired EPI France for an undisclosed amount. This strategic acquisition significantly bolsters Seppic's position in the cosmetics sector, specifically enhancing its capabilities in botanical extraction and quality components provision for the nutricosmetics and beauty care industries. EPI France, a renowned manufacturer of natural active ingredients catering to the nutricosmetics and beauty care sectors, aligns seamlessly with Seppic's goals of expanding its offerings and expertise in this specialized market segment.

Major companies operating in the nutricosmetics market report are Suntory Holdings Limited, KORA Organics, Herbalife Nutrition Ltd., Blackmores Limited, Beiersdorf AG, Amway Corporation, Fit Glow Healthcare Private Limited, BASF SE, Vitabiotics, GliSODin, GlaxoSmithKline plc, Functionalab Inc., Activ’Inside, Cantabria Labs, GNC Holdings Inc., Koninklijke DSM N.V., Pfizer Inc., Lonza Group AG, Lucas Meyer Cosmetics S.A.S., Borba Inc., Sabinsa Corporation, Nutrilo GmbH, Solgar Inc., Nestle S.A.T, L'Oreal SA, Cargill Incorporated, The Coca-Cola Company, E.I. Du Pont De Nemours, Vital Proteins LLC, HUM Nutrition Inc., NV Perricone LLC, Murad LLC.

North America was the largest region in the nutricosmetics market in 2023. The regions covered in the nutricosmetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the nutricosmetics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

They come in various forms such as capsules, tablets, softgels, drinks, powders, gummies, and candies. Capsules, for instance, are small gelatine containers containing a specific medication dosage. Ingredients often include carotenoids, vitamins, omega-3 fatty acids, among others. These products are retailed through diverse channels such as supermarkets, online pharmacies, retail pharmacies, and specialty stores. They cater to multiple end-uses including skincare, haircare, nail care, and more.

The nutricosmetics market research report provides nutricosmetics market statistics, including nutricosmetics industry global market size, regional shares, competitors with a nutricosmetics market share, detailed nutricosmetics market segments, market trends and opportunities, and any further data you may need to thrive in the nutricosmetics industry. This nutricosmetics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The nutricosmetics market consists of sales of plant extracts, curcumin, prebiotics, and probiotics. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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