The latest report by IMARC Group, titled “Nutricosmetics Market Report by Ingredient (Carotenoids, Omega-3, Vitamins, and Others), Product (Skin Care, Hair Care, Weight Management, and Others), Distribution Channel (Drug Stores/Pharmacies, Supermarkets and Hypermarkets, Specialist Stores, Online Stores, and Others), and Region 2024-2032“, The global nutricosmetics market size reached US$ 7.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 12.6 Billion by 2032, exhibiting a growth rate (CAGR) of 5.9% during 2024-2032.
Factors Affecting the Growth of the Nutricosmetics Industry:
- Consumer Awareness and Lifestyle Shifts:
The nutricosmetics industry's expansion is heavily impacted by an increasing consumer awareness of the correlation between diet and skin health. As individuals increasingly pursue holistic healthcare approaches, there is a growing preference for nutricosmetics that provide beauty and health benefits. Lifestyle changes towards preventive healthcare, combined with a growing preference for natural and organic ingredients, are prompting consumers to incorporate nutricosmetics into their daily routines. This tendency is bolstered by the broader wellness movement, where individuals are proactive about their health and appearance, favoring products that offer long-term, sustainable results over quick fixes.
- Innovations and Technological Advancements:
The industry is currently experiencing rapid advancements, with firms dedicating resources to research and development to produce cutting-edge products supported by science. Progress in extraction and formulation technologies is facilitating the creation of premium nutricosmetics that provide superior bioavailability and efficacy. These developments are meeting the escalating consumer desire for scientifically proven, safe products. A significant trend is the emergence of personalized nutricosmetics, incorporating genetic testing and AI to customize products according to individual requirements. This trend is anticipated to significantly boost industry expansion, providing consumers with tailored and efficient beauty solutions.
- Market Expansion and Globalization:
The expanding reach of the nutricosmetics sector is being greatly enhanced by its growing presence in global markets. The rise of the global middle-class demographic, characterized by increased purchasing power and a preference for luxury beauty and wellness products, is a key driving force behind the industry's expansion. Additionally, the process of globalization has simplified entry into various markets, allowing brands to connect with a broader customer base and cater to diverse preferences across different regions. By embracing cultural differences and adapting to local trends, nutricosmetics brands are ensuring widespread acceptance of their products on a global scale. This extensive international reach plays a pivotal role in driving the industry's advancement, as it remains committed to innovation and responsiveness to the evolving needs of a diverse worldwide audience.
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Competitive Landscape with Key Player:
- Amway
- BASF SE
- Bayer AG
- Beiersdorf (Maxingvest AG)
- Blackmores Ltd.
- Herbalife Nutrition Ltd.
- Otsuka Holdings Co. Ltd.
- Pfizer Inc.
- Reckitt Benckiser
- Suntory Holdings Limited (Kotobuki Realty Co. Ltd.)
- Unilever
The report has segmented the market into the following categories:
Breakup by Ingredient:
- Carotenoids
- Omega-3
- Vitamins
- Others
Carotenoids dominate the market due to their potent antioxidant properties, which are highly effective in protecting the skin from oxidative damage and promoting a healthy complexion.
Breakup by Product:
- Skin Care
- Hair Care
- Weight Management
- Others
Skincare products account for the largest market share as consumers prioritize skin health and appearance, leading to high demand for products that offer benefits such as anti-aging, hydration, and improved skin elasticity from within.
Breakup by Distribution Channel:
- Drug Stores/Pharmacies
- Supermarkets and Hypermarkets
- Specialist Stores
- Online Stores
- Others
Based on the distribution channel, the market has been classified into drug stores/pharmacies, supermarkets and hypermarkets, specialist stores, online stores, and others.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Europe's dominance in the nutricosmetics market is attributed to the region's strong awareness and acceptance of the link between nutrition and skin health, along with high consumer demand for natural and organic beauty solutions.
Global Nutricosmetics Market Trends:
The nutricosmetics market is experiencing significant growth, propelled by the focus on comprehensive health, beauty, and wellness trends. Consumers are increasingly choosing nutricosmetics, which are nutritional supplements designed to enhance the skin, hair, and nails from within, bridging the benefits of nutrition and personal care. The increasing demand for natural and organic ingredients is driving the market, as people seek clean-label products that offer beauty benefits without synthetic additives. Product innovations, incorporating vitamins, minerals, antioxidants, and probiotics, underscore the trend towards multifunctional nutricosmetics. Moreover, the growing recognition of the gut-skin axis and the emphasis on sustainable, ethically sourced products are influencing consumer preferences, contributing to the market's expansion.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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