Global Nutracosmetic Market Size, Share & Industry Trends Analysis Report By Ingredient, By Application (Skin Care, Hair Care, and Nail Care), By Demographic, By Distribution Channel, By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Nutracosmetic Market
Market Report Description
The Global Nutracosmetic Market size is expected to reach $5.6 billion by 2028, rising at a market growth of 7.8% CAGR during the forecast period.
A combination of products for nutrition & personal care that promotes protection and renewal has given rise to nutracosmetics. Nutricosmetics are utilized to treat issues with the skin, hair, nails, and weight. These products are designed to promote hair growth, stop hair thinning, and increase hair volume. Nutraceuticals for nails are now readily available and assist to strengthen them & stop breaking. Both supplement & liquid forms of these items are used for consumption. Omega-3 fatty acids, probiotics, lutein, as well as vitamins (A, B6, and E) are a few of the main components of nutracosmetics.
These substances work as antioxidants by limiting and neutralizing the impacts of free radicals, giving skin anti-inflammatory defense against UV radiation. The growing interest in healthy aging is a significant driver of the worldwide nutracosmetics market's expansion, particularly among women. Another important factor driving the growth of nutracosmetic market is the growing popularity of nutracosmetics among older people. Demand for nutracosmetics is also fueled by the rapidly aging population base & rising health and wellness consciousness.
Nutritional cosmetics are now an essential part of people's daily lifestyles. Additionally, one of the main factors influencing the usage of nutracosmetics on the international market is the rise in consciousness about both internal and exterior attractiveness. In addition to women, males are now increasingly incorporating nutracosmetics into their daily routines, which is resulting in market expansion. Consequently, the expansion of the market is a result of changing lifestyles. Furthermore, women use nutracosmetics products extensively because they want to flaunt healthy, radiant skin, which boosts the market's growth. Additionally, it is predicted that throughout the forecast period, demand for herbal as well as natural skin nutracosmetics products will rise significantly.
COVID-19 Impact Analysis
Exporters in both developing, as well as developed countries, are facing a multitude of difficulties as a result of the coronavirus pandemic. The difficulties faced by exporters of nutracosmetics ingredients are anticipated to persist as governments and states strive to combat COVID-19 on a worldwide scale. Curfew implementation and the worldwide practice of keeping social distance have an impact on domestic as well as foreign manufacturing, which in turn slows market growth. As a result, the growth of nutracosmetic market was hampered by the COVID-19 outbreak.
Market Growth Factors
Rising Spendable Income Of The Consumers
Consumer disposable income is rising in several countries throughout the world. As a result, people are spending a lot of money on a variety of high-end products and cosmetics. Additionally, there is an increasing worldwide need for a wide range of cosmetic products. Customers are also choosing organic cosmetics like probiotics due to rising living standards and large expenditures made to improve their personalities & appearance. Due to the rising professionalism and number of working women around the world, both men's and women's desire for cosmetics will rise.
Growing Interest In The Inside-Out Approach To Beauty
Customers are increasingly realizing that external skin care products aren't as effective as internal beauty enhancers designed specifically for the skin, hair, & nails to enhance and preserve beauty from the inside out. While encouraging natural and non-invasive measures against premature hairline receding, accelerated aging, as well as other skin-related concerns, consumer knowledge about the health advantages of balanced nutrition & supplementation is growing.
Market Restraining Factors
Lack Of Awareness Among Population
Besides having a number of benefits, the demand for nutracosmetics is expected to slow down because of the lack of consumer knowledge regarding the availability as well as advantages of nutracosmetics. The lengthier time of the product's outcomes for effective results is expected to cause more hurdles for the nutracosmetics market over the forecast period. The lack of customer trust in these products as a result of their recent availability has made it difficult for the nutracosmetics sector to expand. In underdeveloped nations, people are not much aware of the existence of such products due to a lack of resources.
Based on application, the nutricosmetic market is segmented into skin care, hair care, and nail care. The skin care segment dominated the nutracosmetic market by generating maximum revenue in 2021. The skincare segment is expanding because of offers that support professionally studied active ingredients as well as a preventive, holistic, & environmentally concerning philosophy. Moreover, new components for healthy skin, such as pycnogenol & lycopene, are entering the skin care market for nutracosmetics.
On the basis of demographic, the nutricosmetic market is fragmented into male and female. The male segment generated a substantial revenue share in the nutracosmetic market in 2021. The growth of the market in this segment can be attributed to the fact that many men prefer the thought of taking a pill or a supplement to address their skin care needs may be because of cultural pressures on males to adopt a practical, problem-solving mindset. Men want solutions that are well-positioned & clearly communicate the answer to their unmet needs.
By ingredient, the nutricosmetic market is divided into carotenoids, probiotics, vitamins and others. The probiotics segment covered a significant revenue share in the nutracosmetic market in 2021. Live bacteria known as probiotics have beneficial effects on the skin and digestive system. Probiotics are recognized for their relaxing properties & are effective for the skin. The market for probiotic cosmetic products may experience exponential growth due to rising knowledge about aesthetics, wellbeing, and health.
Distribution Channel Outlook
Based on distribution channel, the nutricosmetic market is classified into hypermarket and supermarket; specialty stores; pharmacies & drug stores; online sales channel and others. The online sales segment acquired a promising revenue share in the nutracosmetic market in 2021. This is because of the increasing penetration of the internet and the influence of social media all over the world. Also, the sale in this segment is increasing as various online distribution channels offer products from a wide range of brands with different prices which consumer can compare and then can choose the most suitable one for them.
|Market size value in 2021||USD 3.3 Billion|
|Market size forecast in 2028||USD 5.6 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 7.8% from 2022 to 2028|
|Number of Pages||251|
|Number of Tables||460|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Ingredient, Application, Demographic, Distribution Channel, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region wise, the nutricosmetic market is analyzed into North America, Europe, Asia Pacific and LAMEA. The Europe region led the nutracosmetic market with the highest revenue share in 2021. In Europe, the nutracosmetic are increasingly demanded in the nations such as the UK and Italy. It is anticipated that Italians will continue to prefer skin care products with natural ingredients and active ingredients; another attribute that is highly desired is the product's ease of use and absorption.
Free Valuable Insights: Global Nutracosmetic Market size to reach USD 5.6 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include BASF SE, Amway Corporation, Pfizer, Inc., GlaxoSmithKline PLC, Blackmores Limited, Shiseido Company, Limited, Suntory Holdings Limited (Kotobuki Realty Co., Ltd.), and KORA Organics by Miranda Kerr Pty Ltd., Herbalife nutrition Ltd., and GNC Holdings, LLC
Strategies deployed in Nutracosmetic Market
- Mar-2022: Shiseido launched Ule, a clean beauty brand. Through this launch, the company aimed at expanding its skin care beauty segment to 75% of its sales in 2022. It is in line with the clean & sustainable beauty care line-up like Drunk Elephant & Baum. In addition, Ule is a part of the pump its sustainability-driven beauty product line-up.
- Nov-2021: Kora Organics partnered with Amazon, an American multinational technology company that focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. The partnership aimed at launching its skincare brand along with its holiday gift guide. This partnership would serve as an opportunity to bring the company's certified organic skincare to even more consumers across the world.
- Nov-2021: Shiseido unveiled Inryu, an ingestible beauty supplement brand. The supplement is launched to enhance skin health from the inside. The debut line consists of three products advanced radiance, night ritual+ and laser refine. Inryu was designed by the China business innovation & investment office (CBI), which focuses on the market trends of beauty consciousness & the ingestible beauty market in China.
- Jul-2021: Herbalife Nutrition came into a partnership with Lycored, a leader in the research and development of carotenoid and lycopene supplement wellness products. The partnership aimed to use its proprietary nutrient complex in a new Herbalife SKIN product, LycoGlow. In addition, LycoGlow would tap into rising customer demand for ingestible skincare products containing plant-based ingredients rooted in research & sprouted from science.
- Sep-2020: Amway released Artistry Studio Skin, a brand of makeup and specialty bath and body products. The product is formulated to absolute perfection & powered by a botanical cocktail of Zen+Energy ingredients. Artistry Studio Skin provides skincare beginners & enthusiasts alike the ability to achieve the look & feel of healthy glowing skin, as well as their own glow-get-it look.
- Aug-2019: Pfizer announced a joint venture with GlaxoSmithKline, a British multinational pharmaceutical company. The venture aimed at combining the parties’ respective customer healthcare companies to create the world’s largest over-the-counter (OTC) business with robust iconic brands. The combined portfolio of the companies form the world's largest OTC business with leadership positions in respiratory, pain relief, & vitamins, minerals and supplements, and therapeutic oral health.
- Jun-2019: Amway introduced TRUVIVITY OxiBeauty Nutricosmetic Food Supplement. The product is designed to improve the skin’s natural glow. TRUVIVITY OxiBeauty is a holistic & effective nutricosmetic food supplement with ingredients that support the structure & function of radiant skin including nutrients that help protect against oxidative stress, & the associated cell and tissue breakdown that play an important role in skin aging.
- Oct-2018: GNC Holdings introduced Earth Genius, a nature-inspired line of over 40 products. With this move, the company focused on meeting evolving customer demands for more natural ways to supplement, while still providing them with the high-quality ingredients GNC is famous for. The product line spans multiple categories, including energy, immune support, digestive health, beauty, metabolism, relaxation, & exercise performance, with products ranging from vitamins & minerals to superfoods, greens, plant-based proteins, & oils, and vinegar.
- Jun-2018: Kora Organic released Noni Glow Skinfood Supplement, a new, potent, nutrient-dense supplement. The product is manufactured to support daily wellness & beauty. The supplement is developed for routine use, and is vegan, gluten- & dairy-free, non-GMO, preservative- & sugar-free, and without artificial flavors or colors.
Scope of the Study
Market Segments Covered in the Report:
- Skin Care
- Hair Care
- Nail Care
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- BASF SE
- Amway Corporation
- Pfizer, Inc.
- GlaxoSmithKline PLC
- Blackmores Limited
- Shiseido Company, Limited
- Suntory Holdings Limited (Kotobuki Realty Co., Ltd.)
- KORA Organics by Miranda Kerr Pty Ltd.
- Herbalife nutrition Ltd.
- GNC Holdings, LLC
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