Nutricosmetics Market - Growth, Trends and Forecasts (2019 - 2024)
Market Overview
The Global Nutricosmetics Market is projected to value 7956.63 million in 2024 registering a CAGR of 8.63% in the forecasted period.
- The increasing demand for nutraceutical-based cosmetic products which include nutricosmetics is a major factor that drives the global nutricosmetics market. It is also gaining popularity among the consumers because of its health and beauty benefits. The stringent regulations are the major restriant for the global nutricosmetics market.
- Europe is the largest share holder in market, followed by Asia-Pacific and North America. Asia-Pacific is the fastest growing region in the market. Skin care products are the major application for nutricosmetics
Scope of the Report
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NEW YORK, Nov. 12, 2019 /PRNewswire/ -- Global Nutricosmetics Market is segmented by Ingredient into Carotenoids, Vitamins, Collagen, Omega-3 Fatty Acids, CoQ10, Keratin, and Other Ingredients which include Flavonoids Botanical Extracts; by Application, the market is segmented into Skin Care, Hair Care, Weight Management and Other Applications which include Anti-pollution, UV-Protection, eye care, etc. The report also includes the regional analysis of the market.
Key Market Trends
Collagen is the Largest Segment in the Nutricosmetics Market
The Collagen segment was valued at 1406.27 million USD in 2018 growing at a CAGR 8.3%. The increasing number of aging people and beauty conscious consumers are the major drivers of the market. Collagen-based nutricosmetics are leading the market due to its numerous health benefits such as smoothening the skin and providing the lubricants necessary for the eyes and joints, moreover provides strengths to the connective tissues. The other health benefits of collagen include strengthening skin, nail, and hair. Players are also diversifying their product specific to different age groups and gender to expand their customer base.
Asia-Pacific is the Fastest Growing Market
Asia-Pacific is the fastest growing region in the Global Nutricosmetics market. The Asia-Pacific nutricosmetics market is driven by the increasing awareness in the region and also the increasing publicity given through media. The Asia-Pacific nutricosmetic market is led by Japan followed by China and India. The large population and increasing awareness are the factors boosting the market in China and India. Rapid growth was found in the consumption of nutricosmetic in various developed and developing countries of Asia-Pacific. The increasing aging population in the region is also driving the nutricosmetic market especially in Japan, China, and Australia. Asia-Pacific has the largest number of products with various applications marketed by various players.
Competitive Landscape
The global nutricosmetics market is a very fragmented market with a large number of players competing to become the market leaders. The major players of the market have a strong global presence and a large product portfolio. The major companies also enjoy a large loyal consumer base. The major players are Beiersdorf AG, Pfizer, Herbalife Limited, etc.
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