Published Date: 31-Jul-2022
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According to a new report, published by KBV research, 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.
The Carotenoids segment acquired maximum revenue share in the Global Nutracosmetic Market by Ingredient in 2021 thereby, achieving a market value of $2.4 billion by 2028. This is owing to their ability to prevent collagen synthesis inhibition. Carotenoids shield skin cells from harm while also slowing the aging process, enhancing skin vibrancy, and sun spots, and fine lines, reducing age spots, & other aging symptoms.
The Hair Care segment is showcasing a CAGR of 8.1% during (2022 - 2028). The hair care products help both men and women keep their hair clean and healthy along with safeguarding it from damage. There are several different formats for oil, serum, conditioner, shampoo, & other hair products, including liquid, gel, lotion, & cream. The conditioners for damaged hair & scalp healing, the shampoos for colored and curly hair, and the shampoos for oily and dry hair are all readily available.
The Female segment is leading the Global Nutracosmetic Market by Demographic in 2021 thereby, achieving a market value of $4.1 billion by 2028. This is due to a shift in thinking and an increase in literacy among urban and rural populations, which has opened up opportunities for nutracosmetics product knowledge. In addition to this, nutracosmetics products are often used by women who want to showcase healthy, radiant skin, which fuels the market growth.
The Pharmacies & Drug Stores segment has shown growth rate of 8% during (2022 - 2028). This is because nutracosmetics are largely available in pharmacies & drug stores as they are present in the form of capsules. In addition, some people prefer to take nutracosmetics after consulting to beauticians and dermatologist which is also a factor contributing to the growth of high demand in this segment.
The Europe market dominated the Global Nutracosmetic Market by Region in 2021 thereby, achieving a market value of $1.9 billion by 2028. The North America market is estimated to grow at a CAGR of 7.5% during (2022 - 2028). Additionally, The Asia Pacific market would exhibit a CAGR of 8.4% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/nutracosmetic-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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
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