Nutricosmetics Market

The global Nutricosmetics Market is valued at USD 7.2 Billion in 2022 and is projected to reach a value of USD 13.9 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 8.6% between 2023 and 2030.

Premium Insights

The surge in environmental apprehensions coupled with governmental support for eco-conscious materials propels the growth of Nutricosmetics. The IEA's Global Energy Review 2022 forecasts a 4.8% expansion in energy-related CO2 emissions due to escalating demand for coal, oil, and gas. This increase of around 1,500 Mt CO2, surpassing previous carbon-intensive recoveries, heightens concerns. Nutricosmetics mitigate waste and prevent costly waste management, hazardous disposal, and end-of-pipe procedures. Addressing mounting greenhouse gas emissions, they are pivotal in curtailing carbon footprints. Additionally, the utilization of economical biomass feedstocks, environmentally friendly goods, and evolving technologies such as repurposing used bottles for polyurethane manufacturing are poised to invigorate the sector.

• The demand for alcohol in the Nutricosmetics market will notably increase by product type during the projection period from 2023 to 2030.
• The Skin Care segment has the highest market share.
• In 2022, the Asia Pacific region exhibited its market prowess, achieving the highest revenue share of 50.50%.
• The North American region is poised for remarkable growth, displaying a noteworthy Compound Annual Growth Rate (CAGR) between 2023 and 2030.

Top Market Trends

1. Vitamin shortages cause a variety of skin disorders, including anti-aging, wrinkles, hair loss, and scalp problems. As a result, a strong demand for goods containing vitamins and Omega-3, particularly for skincare, leads to a sizable market share.
2. Furthermore, a paradigm change toward preventative health management methods in the face of rising healthcare expenditures and an increasing burden of lifestyle diseases is a significant factor driving Nutricosmetics demand.
3. Companies in this category have concentrated on increasing their online presence by cooperating with third-party merchants such as Amazon. They also began providing tailored virtual consultations to customers via their official websites. Furthermore, skin problems caused by utilizing face masks on a regular basis raised demand for health supplements such as Nutricosmetics.
4. Furthermore, due to growing consumer awareness of natural cosmetics and initiatives by many cosmetic businesses to replace synthetic components with natural alternatives, the market has seen a surge in demand for Nutricosmetics products made with natural ingredients.
5. A distinct consumer trend toward "natural" skincare and cosmetics has evolved in recent years. Complements organic and ecologically friendly cosmetics brands. Natural alternatives are currently more popular among consumers than synthetic alternatives. Leading cosmetics firms are increasingly producing herbal compositions instead of employing harmful or chemical ingredients in the manufacturing of their products.
6. As customers seek items that assist overall health and well-being, the popularity of wellness and self-care products has increased demand for Nutricosmetics and nutraceuticals. Increased new product releases by notable key businesses also contribute to regional growth during the projection period.

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Economic Insights

Consumers may restrict discretionary expenditure, including on non-essential products like Nutricosmetics, during economic downturns or periods of financial stress. People prioritize necessities over health and beauty supplements, resulting in lower demand. Consumers may become more price-sensitive as a result of economic issues. Because of their specialized components and marketing, Nutricosmetics products sometimes command high prices. During economic downturns, higher prices may dissuade potential customers. Economic uncertainty can disrupt supply chains, influencing the availability and cost of Nutricosmetics components. This can result in manufacturing delays, pricing increases, or difficulties maintaining the quality of the product and uniformity.

Market Segmentation

The Global Nutricosmetics Market is segregated into the below-mentioned segments as:

The global Nutricosmetics market can be categorized into Product Type, Primary Function, Region. The Nutricosmetics market can be categorized into Beauty Beverages/Drinks, Supplements, Tablets, Capsules, Powder based on Product Type. The Nutricosmetics market can be categorized into Skin Care, Sun Care, Anti-Aging, Radiance & Glow, Anti-Acne/ Pimple, Hair & Nail Care, Weight Management, Multi-Functional based on Primary Function. The Nutricosmetics market can be categorized into North America, Europe, Asia Pacific, Latin America, Middle East & Africa based on Region.

Based on the Primary Function

Skin Care to Lead Maximum Market Share Due to the Growing awareness of skincare

In 2022, the Skin Care segment is poised to dominate the global market for Nutricosmetics. The preventative, holistic, and eco-conscious approach propels the skincare market forward, with offers that support clinically studied active ingredients that swiftly provide noticeable results to customers, generating momentum. Furthermore, developing components for healthy skin, such as pycnogenol and lycopene, are being introduced into the Nutricosmetics skincare industry. Consumers' preferences are shifting toward skincare 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. Additionally, enterprises in this area use naturally occurring active substances for clean alternatives, such as mushrooms in supplements, ground coffee in skin washes, and seaweed in skin care. Furthermore, businesses are focusing on product distribution through various distribution channels, such as pharmacies and other retail establishments. During the study period, such factors are expected to drive the market.

Based on Product Type

Powder Segment expects Dominion Owing to the Growing Demand for Cosmetic

In 2022, the Powder segment will dominate the Nutricosmetics market. The rising demand for cosmetic powders due to the convenience with which such powders and liquids may be applied to the skin is the cause for such a large market value.

Based on Region

Europe To Dominate Global Sales Owing to Increased Penetration Of Nutricosmetics Goods

In 2022, The European region constitutes one of the most industrialized and industrially powerful regions in the globe, contributing significantly to revenue generation in almost every market field. It is expected that natural and active components will continue to be preferred by Italian consumers. Because of its reputation for formula innovation and industrial business service qualities, Italy has established a substantial market for Nutricosmetics items in Europe, allowing the Italian cosmetics sector to establish itself in both developed and developing countries. Also, The increased penetration of Nutricosmetics goods in the European market, as well as rising product introductions in several major European countries, have increased demand for Nutricosmetics in Europe. Furthermore, the country's growing senior population pushes market expansion in the region.

The Nutricosmetics industry in North America is rapidly growing in popularity. North America is one of the important market segments with a significant market share in the Nutricosmetics industry, which is consistently rising during the anticipated period. The United States is expected to have the biggest market share in North America by the end of 2022. This is because one out of every three dollars spent on cosmetics in the United States is now made online. Because of changing lifestyles brought on by wealth rises, consumers may now choose healthier solutions for themselves and the environment that were previously thought to be unreachable; this accelerates the region's market toward major growth and positions the United States as a leading market for cosmetic items.

Competitive Landscape

The global Nutricosmetics market is highly competitive, with various key players operating in the industry. Some of the major companies in the market include Key Players in the Global Nutricosmetics Market are BASF SE (Germany), Beiersdorf AG (Germany), Amway (U.S.), Pfizer Inc. (U.S.), and Suntory (Japan). These companies are focusing on research and development activities to develop innovative and sustainable products. Additionally, strategic alliances, mergers, and acquisitions are frequent in the market as companies aim to expand their product offerings and market presence.

The key players in the global Nutricosmetics market include - BASF SE (Germany), Beiersdorf AG (Germany), Amway (U.S.), Pfizer Inc. (U.S.), Suntory (Japan), Lonza Group AG (Switzerland), Shiseido Company Limited (Japan), Lucas Meyer Cosmetics S.A.S. (France), Borba Inc. (U.S.), Herbalife Nutrition (U.S.) among others.

Recent Market Developments

• In July 2023, Cantabria Labs launched the Totybrand in North America with the Solaria Infusion Antioxidant Booster. This daily supplement is a powerful antioxidant blend that combines PLE FernBoostTechnology with Camu-Camu, a natural superfruit high in Vitamin C.
• In April 2022, Herbalife SKIN LycoGlow," a multi-ingredient cosmetic supplement based on the Lycored Nutrient Complex, was introduced by Herbalife Nutrition. This compound is high in lycopene and other useful carotenoids present in tomatoes and is made from tomato extracts supplied by the Israeli company Lycored.
• In February 2023, Croda International PLC agreed to purchase Solus Biotech ('Solus'), a global leader in premium, biotechnology-derived beauty actives, from Solus Advanced Materials. The acquisition gives Solus access to its existing biotech-derived ceramide and phospholipid technology, as well as its emerging natural retinol capabilities.

Segmentation of the Global Nutricosmetics Market