Redding, California - July 31, 2024
Nutricosmetics Market to Reach $12.61 Billion by 2031
Nutricosmetics Market Size, Share, Forecast, & Trends Analysis by Product Type (Skin, Hair, Nail Care), Form (Powder, Liquid, Tablets, Capsules, Gummies), Distribution Channel (Supermarkets, Hypermarkets, Pharmacies, Drug Stores) - Global Forecast to 2031
Meticulous Research®—a leading global market research company, published a research report titled, 'Nutricosmetics Market Size, Share, Forecast, & Trends Analysis by Product Type (Skin, Hair, Nail Care), Form (Powder, Liquid, Tablets, Capsules, Gummies), Distribution Channel (Supermarkets, Hypermarkets, Pharmacies, Drug Stores) - Global Forecast to 2031.
According to this latest publication from Meticulous Research®, the global nutricosmetics market is expected to reach $12.61 billion by 2031, at a CAGR of 7.2% from 2024 to 2031. The increasing awareness about nutritional deficiency, increasing consumer preference for natural alternatives to health and beauty products, the growing cosmetics industry, and the rising geriatric population, all contribute to the growth of the global nutricosmetics market. Market saturation in terms of nutraceuticals & cosmetics and stringent regulations are expected to hinder market growth to some extent.
Stakeholders in the nutricosmetics market have a significant role to play in addressing the substantial challenge of low consumer awareness about the benefits of nutricosmetics. Due to the growing demand for innovative beverages and the expanding functional food industry, players operating in this market are focusing on educating customers about the importance of nutricosmetics.
Moreover, the nutricosmetics market is witnessing a major trend in increasing awareness of health & wellness. This trend is significantly shaping the market dynamics and influencing consumer preferences in the nutricosmetics sector.
Key Players:
The global nutricosmetics market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the global nutricosmetics market are Amway Corporation (U.S.), Shiseido Company, Limited (Japan), Koninklijke DSM N.V. (Netherlands), Nestlé S.A. (Switzerland), Suntory Beverage & Food Ltd. (Japan), LycoRed Ltd. (Israel), Lonza Group Ltd. (Switzerland), BASF SE (Germany), Herbalife Nutrition Ltd. (U.S.), Beiersdorf AG (Germany), Otsuka Holdings Co. Ltd. (Japan), and Sappe Public Company Limited (Thailand).
The global nutricosmetics market is segmented by product type (skincare, hair care, nail care, and other product types), form (powder form, liquid form, tablets, capsules & soft gels, gummies & soft chews, and other forms), distribution channels (supermarkets & hypermarkets, pharmacies & drug stores, specialty stores, e-commerce, and other distribution channels), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). This study also evaluates industry competitors and analyzes the regional and country-level markets.
Based on product type, the nutricosmetics market is segmented into skincare, hair care, nail care, and other product types. In 2024, the skin care segment is expected to account for the largest share of 46.7% of the nutricosmetics market. This segment’s large market share is attributed to the growing geriatric population, rising awareness about skin nourishment, and increasing skin issues, such as acne, wrinkles, and tanning. However, the hair care segment is estimated to register the highest CAGR during the forecast period.
Based on form, the nutricosmetics market is segmented into powder form, liquid form, tablets, capsules & soft gels, gummies & soft chews, and other forms. In 2024, the powder form segment is expected to account for the largest share of the nutricosmetics market. However, the tablets segment is anticipated to register the highest CAGR during the forecast period due to its extended shelf life and portability, allowing for precise dosing because of the standardized format.
Based on distribution channels, the nutricosmetics market is segmented into supermarkets & hypermarkets, pharmacies & drug stores, specialty stores, e-commerce, and other distribution channels. In 2024, the supermarkets & hypermarkets segment is expected to account for the largest share of 39% of the nutricosmetics market. This segment’s large market share is attributed to the growing number of supermarket & hypermarket groceries offering high-quality products, rapid urbanization, rising per capita disposable incomes, increased sales of functional food & beverages in well-established supermarkets and hypermarkets, and consumer preference for shopping offline due to the enhanced shopping experience offered by these channels.
Geographic Review
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, Mexico, and Rest of Latin America), and the Middle East & Africa.
In 2024, Asia-Pacific is expected to account for the largest share of 43.9% of the nutricosmetics market. Followed by North America and Asia-Pacific. Asia-Pacific nutricosmetics market is estimated to be worth $3.40 billion in 2024. This region’s large market share is attributed to increased penetration of improved medications, high consumption of dietary supplements, increased demands for functional food & beverages, and high awareness about nutricosmetics in Japan and China.
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Key Questions Answered in the Report-
- What is the value of revenue generated by the sale of nutricosmetics?
- At what rate is the global demand for nutricosmetics projected to grow for the next 5-7 years?
- What is the historical market size and growth rate for the nutricosmetics market?
- What are the major factors impacting the growth of this market at global and regional levels?
- What are the major opportunities for existing players and new entrants in the market?
- Which product type, form, and distribution channel segments create major traction for the manufacturers in this market?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the nutricosmetics market?
- Who are the major players in the Nutricosmetics market? What are their specific product offerings in this market?
- What recent developments have taken place in the nutricosmetics market? What impact have these strategic developments created on the market?
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