NUTRICOSMETICS MARKET ANALYSIS

Nutricosmetics MarketSize and Trends

The global nutricosmetics market size was valued at US$ 9.9 Billion (revenue) in 2022 and is expected to expand at a CAGR of 11.76% and expected to reach at 24.1 Billion in terms of revenue during 2023– 2030.

Nutricosmetics are oral based nutritional supplements for beauty and skin health. Nutricosmetics market is primarily driven by the expansion and consumer awareness in personal grooming coupled with busy lifestyle of the growing urban population. Nutricosmetics are health products which is mainly used for the treatment of hair, nail, skin defects, sun protection and photoaging. Photoaging is aging mainly caused due to exposure to ultraviolet (UV) light which causes brown spots and deep wrinkles. Antioxidants such as vitamin E and C, green tea polyphenols, beta carotene, supplements containing polypodium leucotomos, an extract of a Central American fern plant, and synergistic antioxidants has the ability to reduce sun damage. Other micronutrients such as carotenes, flavonoids, and omega-3 fatty acids also provides protection from ultraviolet light exposure and reduce the aging of skin and wrinkle formation.

Driver:

Rising retail shops, Popularity of ready to drink nutricosmetic beverages:

Some of the key drivers to fuel the nutricosmetics market are rising retail shops across the globe, rising popularity of ready to drink nutricosmetics beverages, preference for effective and safe beauty solutions boosts the sales of cosmetics supplements, and growing consumer awareness toward prevention of pre-mature skin aging along with others. Awareness in skincare, hair care is expected to drive the nutricosmetics market during the forecast period. The global nutricosmetics market size was valued at US$ 9.9 Billion (revenue) in 2022 and is expected to expand at a CAGR of 11.76% and expected to reach at 24.1 Billion in terms of revenue during 2023 – 2030.

Nutricosmetics: Success and Failures

Factors such as rapid innovation and technological advancements is expected to gain traction in nutricosmetics market. For instance, in the U.S. Mars, food packaging company launched Dove Beautiful (containing biotin, zinc and vitamins E and C) and Dove vitalize (containing dark chocolate enriched with vitamin B). These products in spite of high investment in product promotion failed to gain consumer demand in the U.S market. Nutricosmetics products are subject to market regulations in Europe. For instance, in December 2022, The European Commission (EC) has expanded the marketing authorization for Dupixent® (dupilumab) in the European Union to treat adults with moderate-to-severe prurigo nodularis who are candidates for systemic therapy. Prurigo nodularis is a chronic, debilitating skin disease with underlying type 2 inflammation and its impact on quality of life is one of the highest among inflammatory skin diseases. With this approval, Dupixent is the first and only targeted medicine specifically indicated to treat prurigo nodularis in Europe and the U.S.

Segmentation Analysis:

The global nutricosmetics market ha segmented by product type, by form, by application. By product type it is classified into vitamins, carotenoids, omega-3 fatty acids, others, by form it is classified into liquid and solid form, by application it is classified into skin care, hair, care, oral care, sun protection, others. Region wise the global nutricosmetics market analysis was conducted across Asia pacific, North America, Latin America, Middle East, Africa, and Europe.

Market Trends:

Carotenoids has largest market share around 40% in global nutricosmetics market in 2022. Vitamins has the second largest market share in global nutricosmetics market followed by omega-3 fatty acids and other product types.