The global nutricosmetics market size was USD 6.45 billion in 2022. The market is anticipated to expand from USD 6.84 billion in 2023 to USD 11.24 billion by 2030, exhibiting a CAGR of 7.36% over the analysis period. The rise can be attributed to the escalating adoption of advanced beauty regimes by young consumers. One of these trends is skin minimalism, which is focused on reducing skin damage, skin sensitivity, and skin irritation.

Information Source - https://www.fortunebusinessinsights.com/industry-reports/nutricosmetics-market-101628 

Segmentation:

Capsules Segment Dominates Driven by Rising Popularity for Formulation Delivery

On the basis of form, the market for nutricosmetics is segmented into powder, capsules, tablets, and others. The capsules segment accounted for a dominating share in the market due to the growing usage of the product in delivering formulations to the consumers. 

Skin Segment Holds Major Share Impelled by Rising Product Popularity among Consumers

By application, the market for nutricosmetics is categorized into nails, skin, and hair. The skin segment holds a key share in the market due to the soaring popularity of numerous products such as whitening, smoothening, and anti-aging.

Supermarkets/Hypermarkets Segment Leads Owing to Higher Discounts over Other Retail Stores

On the basis of distribution channel, the market for nutricosmetics is classified into drug stores, online retail stores, specialty stores, supermarkets/hypermarkets, and others. The supermarkets/hypermarkets segment accounts for the largest market share due to the availability of higher discount rates on products considering other retail stores.

Based on geography, the market for nutricosmetics is segregated into Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America.

Report Coverage:

The report offers an in-depth coverage of the key factors anticipated to drive the global business landscape. It further delves into the prominent steps undertaken by leading companies for establishing strong footings in the market. These insights have been provided after in-depth research and data collation from credible sources.

Drivers and Restraints:

Product Sales to Surge Owing to Shift from Harmful Chemical-based to Natural Cosmetics

The global nutricosmetics market growth is being impelled by the surging consumer preference for natural cosmetic products compared to chemical-based solutions. The shift comes amid an increased awareness regarding certain chemicals that cause skin irritations, cancer, and other issues.

However, a lack of awareness among consumers regarding the availability and efficacy of the product may hinder industry growth over the coming years.

Regional Insights:

Asia Pacific Held Dominant Share Driven by Rising Launch of Advanced Products

Asia Pacific held the maximum market share in 2022. The regional market size stood at USD 4.54 billion in 2022. The Asia Pacific nutricosmetics market share is slated to expand owing to increasing launch of advanced products by manufacturers in the region.

The Europe market is anticipated to register considerable growth over the analysis period. The expansion is being driven by the rising demand for natural ingredients and an upsurge in the geriatric population.

Competitive Landscape:

Pivotal Players Unveil New Formulations to Secure Competitive Edge

Companies devise new strategies to strengthen their market footings. Several industry players are involved in research activities for the development of new formulations. These products are being launched in the market to gain a competitive edge.

Key Industry Development:

June 2021 – LABthetics rolled out a new skin rejuvenation nutraceutical supplement. The solution was formulated for usage with aesthetic procedures for providing collagen support in the skin.

List of Key Players Mentioned in the Report:

• Biocyte Laboratory (France)
• Herbalife Nutrition (U.S.)
• Vitabiotics (U.K.)
• Ducray Dermatological Laboratories (France)
• D-LAB NUTRICOSMETICS (France)
• Skinade (U.S.)
• Zenement (Spain)
• Kapiva (India)
• TERRAVITA (Spain)
• Amorepacific (South Korea)