Nutricosmetics – Insights
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. 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. The increasing demand for skin care products and growth of global cosmetics market is expected to exhibit a CAGR of 5.2% in terms of revenue during 2017-2025, which is expected to drive the nutricosmetics market during the forecast period. The global nutricosmetics market size was valued at US$ 5.16 billion (revenue) in 2016 which is expected to expand at a CAGR of 4.98% is also a major product to drive the nutricosmetics market during the forecast period.
The global nutricosmetics market size was valued at US$ 5.00 billion (revenue) in 2016 and is expected to expand at a CAGR of 11.65% in terms of revenue during 2017 – 2025.
Figure 1. Global Nutricosmetics Market Share, By Region, 2016
Nutricosmetics: Success and Failures
Nutricosmetics market is expected to gain traction through various innovation and technological advancements. The food packaging giants Mars in U.S. came up with two products 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. In Europe, nutricosmetics product highly depends on the market regulations. In October, 2010, Nestle launched a nutricosmetics product Nesfluid functional beverage, which was approved by European Food Safety Authority’s (EFSA) along with other ingredients such as zinc, vitamin C and D, and selenium. The target population for nutricosmetics is also changing over the period, men and young women are target audience for the nutricosmetics market. Nutricosmetics products such as Wellman Tricologic which is meant for the issue of male hair loss and other such factors are gaining traction for the nutricosmetics market.
Europe, followed by North America and Asia Pacific, respectively, accounted for major share in the global nutricosmetics market in terms of revenue in 2016 and the trend is estimated to remain the same over the forecast period. In 2016, North America held a share of 26.12% in terms of revenue, followed by Asia Pacific (24.03%). The growing demand for personal grooming and busy lifestyles in Asia Pacific due to rising consumer awareness coupled with growing retail sector is expected to drive growth of the global nutricosmetics market over the forecast period. The global vitamins segment in the global nutricosmetics market is expected to witness a CAGR of 11.65% from 2017 to 2025. Asia Pacific is expected to be the most lucrative market during the forecast period, due to its rapidly growing economy, especially in China and India, coupled with rising healthcare awareness, which in turn is expected to bend the consumers towards nutricosmetics along with the regular diet. Moreover, the growing retail sector across the region is also expected to boost the market for nutricosmetics from 2017 to 2025. For instance, according to India Brand Equity Foundation (IBEF)—a Trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India—the retail market in India is expected to nearly double to US$ 1 trillion by 2020 from US$ 600 billion in 2015, due to income growth, urbanization, and attitudinal shifts.
Multinational players need to tap potential addressable market in the emerging regions with the help of geographical expansion
Major players including Frutarom Ltd, Lucas Meyer Cosmetics S.A.S., Sanofi-Aventis U.S. LLC, Croda International Plc, and Pfizer Inc, Functionalab Inc, Laboratoire Oenobiol S.A.S., Laboratoires Inneov SNC., Beiersdorf Ag, BASF SE, Borba, Inc., Frutels LLC, ISOCELL SA, GlaxoSmithKline Pharmaceuticals Limited, ExcelVite, Denomega Nutritional Oils AS, Groupe Danone SA, IMCD Group BV, Lonza Group Ltd. among others are the key competitors in the global nutricosmetics market. Product portfolio expansion and geographical expansion are the key market trends which are expected to shape the industry in the near future. For instance, ALPI Candy Factory has expanded its manufacturing units in Croatia and Greece for the manufacturing of nurticosmetic products such as deo toffee, deo lavender with sugar and without sugar along with others are some of the few products to expand the growth of global nutricosmetics market during the forecast period.
Nutricosmetics are health products which are orally consumed that are processed from cosmeceutical and nutraceutical products which contains anti-oxidants that are useful for the treatment of skin, nail and hair defects. The natural arrangement of nutricosmetics are available as tablets, drinks, jellies and pills. Increasing consumer awareness about wellbeing in Europe and North America is the key factor of the growth of the global nutricosmetics market during 2017-2025. The market for nutricosmetics is expected to grow at a CAGR of 11.65% during the forecast period. Rapidly increasing awareness among the people on skin care and oral care, growing urbanization population, busy lifestyles are some of the factors which is in turn projected to propel the market for nutricosmetics during the forecast period. Increasing 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 are expected to fuel the growth of the market for nutricosmetics.
Nutricosmetics are primarily taken in two forms- solid and liquid. The nutricosmetics products are taken orally either as liquids or pill. These products of nutricosmetics is expected to gain traction among the busy lifestyles as it takes less time compare to other cosmetics that are needed to apply over the body during the forecast period. The nutricosmetics market is expected to be highly driven by the cosmetics market which is expected to exhibit a CAGR of 5.2% in terms of revenue during 2017-2025 and is expected to retain the trend during the forecast period.
Europe dominated the market in 2016 and the trend is expected to remain the same during 2017-2025. The increasing demand for nutricosmetics in various applications such as skin care, hair care, oral care, sun protection along with others, due to rise in consumer awareness towards health and beauty over the years, 2015-16, is the major driving force to position Europe as the largest region in the global nutricosmetics market. For instance, In October, 2010, Nestle launched a nutricosmetics product Nesfluid functional beverage, which was approved by European Food Safety Authority’s (EFSA) along with other ingredients such as zinc, vitamin C and D, and selenium, this regulations forces the manufacturers to evaluate their products through testing identity, purity, strength, and composition. North America market is also expected to experience significant growth and is anticipated to exhibit a CAGR of 11.64%, during the forecast period.
This report segments the global nutricosmetics market on the basis of product types, forms and applications. On the basis of product types, the market is segmented as vitamins, carotenoids, omega-3 fatty acids, and others. On the basis of forms, the global nutricosmetics market is segmented into solid and liquid. On the basis of application, the global nutricosmetics market is segmented into skin care, hair care, oral care, sun protection and others. Moreover, vitamin is the largest product segment, accounting for over 56.6% share of the global nutricosmetics market in 2016, while, omega-3 fatty acids is projected to be the fastest growing product segment and expected to grow at a CAGR of 11.75% in terms of revenue during the forecast period.
Key features of the study:
Note- We will profile top 10 companies’ profiles. Also, we will provide the exhaustive list of domestic players for every region.
Table of Contents
“*” marked represents similar segmentation in other categories in the respective section.
*Browse 90 market data tables and 40 figures on "Nutricosmetics Market - Global forecast to 2025”.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.