Meticulous Research®—a leading global market research company, published a research report titled, ‘Nutricosmetics Market by Product Type (Skin Care, Hair Care, Nail Care), Form (Powder, Liquid, Tablets, Capsules & Softgels, Gummies), Distribution Channel (Supermarkets & Hypermarkets, Pharmacies & Drug Stores, Specialty Stores, E-commerce) - Global Forecast to 2030.’
According to this latest publication from Meticulous Research®, the nutricosmetics market is expected to record a CAGR of 7.9% from 2023 to 2030 to reach $12.20 billion by 2030. The growth of this market is driven by the growing awareness about nutritional deficiencies, the increasing preference of consumers toward natural alternatives to health and beauty products, changing lifestyles, and the growing elderly population. Additionally, the shift towards preventive health management practices and growing innovations & new product developments offer significant growth opportunities for nutricosmetics manufacturers. However, low awareness among consumers about the benefits of nutricosmetics and stringent regulations restrain the market’s growth.
The key players operating in the nutricosmetics market are Amway Corporation (U.S.), Shiseido Company, Limited (Japan), Koninklijke DSM N.V. (Netherlands), Nestlé S.A. (Switzerland), Suntory Beverage & Food Ltd. (Japan), LycoRed Ltd. (Israel), Lonza Group Ltd. (Switzerland), BASF SE (Germany), Herbalife Nutrition Ltd. (U.S.), Beiersdorf AG (Germany), Otsuka Holdings Co. Ltd. (Japan), and Sappe Public Company Limited (Thailand).
The nutricosmetics market is segmented based on product type, form, distribution channel, and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.
Based on product type, the nutricosmetics market is segmented into skin care, hair care, nail care, and other product types. In 2023, the skin care segment is expected to account for the largest share of the nutricosmetics market. The large market share of this segment is attributed to the growing elderly population; rising awareness about skin nourishment; and increasing skin issues, such as acne, wrinkles, and tanning. However, the hair care segment is expected to register the highest CAGR during the forecast period.
Based on form, the nutricosmetics market is segmented into powder form, liquid form, tablets, capsules & softgels, gummies & soft chews, and other forms. In 2023, the powder form segment is expected to account for the largest share of the nutricosmetics market. However, the tablets segment is expected to register the highest CAGR during the forecast period due to its longer shelf life and portability, allowing for precise dosing because of the standardized format.
Based on distribution channels, the nutricosmetics market is segmented into supermarkets & hypermarkets, pharmacies & drug stores, specialty stores, e-commerce, and other distribution channels. In 2023, the supermarkets & hypermarkets segment is expected to account for the largest share of the nutricosmetics market. The large market share of this segment is attributed to the growing number of supermarket & hypermarket groceries offering high-quality products, rapid urbanization, rising per capita disposable incomes, increased sales of functional food and beverages in well-established supermarkets and hypermarkets, and consumer preference for shopping offline due to the enhanced shopping experience offered by these channels.
Based on geography, in 2023, Asia-Pacific is expected to account for the largest share of the nutricosmetics market. Asia-Pacific’s major market share is attributed to increased penetration of improved medications, high consumption of dietary supplements, increased demands for functional food & beverages, and high awareness about nutricosmetics in Japan and China. However, the North America region is expected to register the highest CAGR during the forecast period due to increasing research & development, increasing incidences of skin diseases, increasing penetration of improved medications, and increasing expenditure on healthcare.
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