Nutricosmetics Market Size & Forecast
The Nutricosmetics Market is expected to reach $12.20 billion by 2030, at a CAGR of 7.9% during the forecast period of 2024 to 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.
Nutricosmetics Market: Key Companies
The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by leading market players in the past three to four years. The key players profiled 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).
Growing Awareness of Nutritional Deficiencies Drives the Market for Nutricosmetics
The growing incidences of nutritional deficiencies are a significant concern across the globe. Nutritional deficiencies can occur due to several factors, including poor dietary choices, limited access to nutritious foods, certain medical conditions, and lifestyle factors. In 2022, nutritional deficiencies affected an estimated 2.4 billion people worldwide, nearly 30% of the world's population (Source: World Health Organization).
The most common deficiencies were for vitamin A, folate, iron, iodine, and zinc. These deficiencies can lead to various health problems, including weakened immune systems, anemia, bone disorders, fatigue, muscle weakness, and skin issues. However, people are becoming more aware of the role that nutrition plays in overall well-being, including the health and appearance of their skin, hair, and nails. As a result, there is a growing demand for products that can address specific appearance concerns from the inside out.
This growing awareness about nutrition is driving the growth of various sectors, including healthcare, nutrition, and cosmetics. In recent years, nutricosmetics is becoming an approach to tackling specific deficiencies that impact skin health and appearance. Nutricosmetics are nutritional supplements specifically formulated to care for skin, nails, and hair`s natural beauty.
They work from the inside to promote beauty from within. These products contain a variety of vitamins, minerals, antioxidants, and other nutrients that are believed to promote skin and hair health and address various cosmetic concerns, such as aging, dryness, acne, hair loss, and dull & dry hair.
Hence, the growing awareness of nutritional deficiencies and their impact on health is driving the growth of the nutricosmetics market.
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Key Findings in the Nutricosmetics Market Study:
In 2024, the Skin Care Segment is Expected to Account for the Largest Share of the Nutricosmetics Market
Based on product type, the nutricosmetics market is segmented into skin care, hair care, nail care, and other product types. In 2024, 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. The rapid growth of this segment is attributed to increasing consumer spending on hair care products, product innovations, adoption of long hairs among men, and growing hair issues, such as dandruff, hair loss, and dry & dull hair.
Tablets Segment is Projected to Witness Significant Growth in the Market During 2024–2030
Based on form, the nutricosmetics market is segmented into powder form, liquid form, tablets, capsules & softgels, gummies & soft chews, and other forms. In 2024, the powder form segment is expected to account for the largest share of the nutricosmetics market. The large market share of this segment is attributed to its multiple benefits, such as providing flexibility in dosing, ease of consumption, cost-effectiveness, wide taste & flavor options, faster absorption, and customization of dosage.
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.
In 2024, the Supermarkets & Hypermarkets Segment is Expected to Account for the Largest Share of the Nutricosmetics Market
Based on distribution channels, the nutricosmetics market is segmented into supermarkets & hypermarkets, pharmacies & drug stores, specialty stores, e-commerce, and other distribution channels. In 2024, 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.
However, the e-commerce segment is expected to register the highest CAGR during the forecast period due to the advantages of faster and more convenient accessibility, cost-effectiveness, and the increasing penetration of the internet and smartphones.
Asia-Pacific: The Dominating Regional Market
Based on geography, in 2024, 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.
Scope of Nutricosmetics Market Report:
Nutricosmetics Market, by Product Type
- Skin Care
- Hair Care
- Nail Care
- Other Product Types
Nutricosmetics Market, by Form
- Powder Form
- Liquid Form
- Tablets
- Capsules & Softgels
- Gummies & Soft Chews
- Other Forms
Nutricosmetics Market, by Distribution Channel
- Supermarkets & Hypermarkets
- Specialty Stores
- Pharmacies & Drug Stores
- E-commerce
- Other Distribution Channels
Nutricosmetics Market, by Geography
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
Key questions answered in the report: