The nutricosmetics market in Indonesia is poised for growth in the coming years due to the increasing demand for natural and organic beauty products. The market is driven by factors such as rising disposable incomes, changing lifestyles, and growing awareness of health and wellness. The use of nutricosmetics as a beauty supplement is gaining popularity among consumers, who are looking for products that offer both beauty and health benefits. However, the market faces challenges such as the lack of standardization and regulation, and the high cost of products. The key players in the market are focused on product innovation, collaborations, and mergers and acquisitions to expand their market presence and increase their revenue share. Overall, the Indonesia nutricosmetics market is expected to grow significantly in the coming years, driven by increasing consumer demand for natural and organic beauty products.
Indonesia Nutricosmetics Market is projected to surpass US$ 561.7million by the end of 2028 and is expected to exhibit a CAGR of 17.1% during the forecast period (2021 to 2028).
Key Companies in the Indonesia Nutricosmetics Industry:
1. Amway Corporation
Amway Corporation is an American multi-level marketing company that sells health, beauty, and home care products. The company was founded in 1959 and is headquartered in Ada, Michigan, United States. It operates in over 100 countries, including the United States, China, and India. In December, 2022 Amway, an entrepreneur-led health and wellness company, today announced the opening of its Singapore Business Innovation Hub in the Central Business District in partnership with the Singapore Economic Development Board (EDB), signaling its strategic expansion in the region.
2. BASF SE
BASF SE is a German multinational chemical company that produces a wide range of products, including chemicals, plastics, and agricultural products. The company was founded in 1865 and is headquartered in Ludwigshafen, Germany. It operates in over 80 countries, including the United States, China, and Japan. In March, 2023 BASF and Toyota launch automotive interior trims made with Ultramid® Deep Gloss grade
3. ExcelVite Sdn. Bhd.
ExcelVite Sdn. Bhd. is a Malaysian-based company that produces and distributes palm nutraceuticals and natural extracts. The company was founded in 2008 and is headquartered in Malaysia. It operates in several countries, including the United States, Canada, and China.
4. Functionalab Group
Functionalab Group is a Canadian company that produces and distributes beauty and health products. The company was founded in 2009 and is headquartered in Montreal, Canada. It operates in several countries, including the United States, Canada, and the United Kingdom.
5. Glaxosmithkline Plc.
GlaxoSmithKline Plc. is a British multinational pharmaceutical company that produces and distributes prescription drugs, vaccines, and consumer health products. The company was founded in 2000 and is headquartered in Brentford, United Kingdom. It operates in over 100 countries, including the United States, China, and Brazil. In March, 2023 GSK plc and SCYNEXIS, Inc. announced they have entered into an exclusive licence agreement for Brexafemme (ibrexafungerp tablets), a US FDA approved, first-in-class antifungal for the treatment of vulvovaginal candidiasis (VVC) and for reduction in the incidence of recurrent VVC (RVVC).
6. Innéov Spain SA
Innéov Spain SA is a Spanish company that produces and distributes health and beauty products. The company was founded in 2002 and is headquartered in Madrid, Spain. It operates in several countries, including Spain, Portugal, and France.
7. LycoRed Ltd.
LycoRed Ltd. is an Israeli company that produces and distributes natural carotenoid-based products, including nutritional supplements and food ingredients. The company was founded in 1995 and is headquartered in Israel. It operates in several countries, including the United States, China, and Japan.
8. PT. Vitabiotics Indonesia
PT. Vitabiotics Indonesia is an Indonesian-based company that produces and distributes health and nutritional supplements. The company was founded in 1971 and is headquartered in Jakarta, Indonesia. It operates in several countries, including Indonesia, the United Kingdom, and the United Arab Emirates.
9. Swisse Wellness PTY Ltd.
Swisse Wellness PTY Ltd. is an Australian company that produces and distributes health and wellness products, including vitamins, supplements, and skincare. The company was founded in 1969 and is headquartered in Melbourne, Australia. It operates in several countries, including Australia, the United States, and the United Kingdom.
10. YOUVIT
YOUVIT is an Indian company that produces and distributes health and wellness products, including vitamins, supplements, and herbal remedies. The company was founded in 2018 and is headquartered in Bangalore, India. It operates in several countries, including India and the United States.
*Definition- Nutricosmetics in Indonesia refer to beauty supplements that are taken orally to improve skin, hair, and nail health. These products contain natural or organic ingredients that provide both beauty and health benefits.
