Nutricosmetics refer to natural health products that are consumed orally. It contains target antioxidants and nutrients for the treatment of hair, nails, and skin, hair. Functional foods, beverages, and beauty supplements are the forms in which they are available. Nutricosmetics are also found in products that contain active ingredients along with botanical leaves, proteins, lycopene, minerals, enzymes etc. that are marketed and developed mainly as beauty aids. Nutricosmetics are available as drinks, capsules, jellies, pills, and tablets.
The shift towards a healthier and better lifestyle together with positive effects of various ingredients, such as barks, roots, and green tea that encourage “Beauty from within” idea are escalating the demand for global nutricosmetics market. Some of the prominent players that are operating sucessfully in the global nutricosmetics market comprise names like The Coca-Cola Company, E.l.Du Pont De Nemours and Company, Cargill Incorporated, L’Oreal SA, and Nestle S.A.
Transparency Market Research has come up with a new report titled “Nutricosmetics Market”, which forecasts that the market would expand at 5.0% CAGR over the period of forecast from 2017-2025. The global nutricosmetics market is estimated to be valued at US$7.93 bn by the end of 2025.
Increasing Healthcare Expenditure to Escalate Demand for Nutricosmetics
Many factors are attributed with the growth of the global nutricosmetics market. One of such factors is the expanding base of population of elderly people who are in need of natural health products that can be consumed orally.
In addition to that, the ever-increasing demand for various natural products with the objective of augmenting one’s health and beauty is also responsible for the growth of global nutricosmetics market. Nutricosmetics products are believed to have no or marginal side effects and as such it is gaining significant traction particulatly amongst the elderly people. Moreover, rising cost of healthcare is compelling many to go for nutricosmetics products. The global nutricosmetics market is being further boosted by the introduction of innovative products that have greater effectiveness every now and then as well.
However, on the downside, the growth of the global nutricosmetics market is being hampered by very less awareness amongst consumers about the health benefits of nutricosmetics as the product is relatively new in the market. In addition to that, nutricosmetics take longer period of time to generate results, which is further limiting their growth globally.
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Nevertheless, constant thrust that is given for the product development. As such, it is anticipated that better products which take lesser time to produce results are more likely hit to the market thereby assisting it to overcome the above-mentioned market setback.
On the basis of regions, the global nutricosmetics market is divided into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Of all these regions, North America has exhibited high growth in the year 2016. Europe accounted for the leading market share owing to high penetration of nutricosmetics. Such high penetration of the product is coupled with substantially high adoption rate amongst the consumers followed by high awareness about the benefits of nutricosmetics. Nutricosmetics manufacturers in Europe are opting for strategic joint ventures and acquisitions in bid to grab opportunities in the global nutricosmetics market. Asia Pacific occupied the second-leading share in the global nutricosmetics market in the year 2016. The region is anticipated to surpass all geographical segments in terms of market share by the end of 2025.
