The Global Nutricosmetics Market was valued at US$ 5.00 billion in 2016, according to a new report published by Coherent Market Insights. Nutricosmetics are nutritional supplements that are required by the body skin health and personal grooming. These are mainly of two forms liquid or solid which are taken orally. However, inadequate intake of vitamins, carotenes, omega-3 fatty acids and others in the diet may led to certain deficiency and hair, nail, skin defects, aging of skin and wrinkle formation. Europe dominated the global nutricosmetics market during the last three years and is expected to retain its dominance in the market throughout the forecast period, due to growing consumer awareness for beauty solutions coupled with increasing awareness for skin aging and wrinkle formation. 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. Moreover, the growing retail sector across the region is also expected to boost the market for nutricosmetics from 2017 to 2025 due to its high availability in super-markets, retail stores and pharmacies. 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. The growing application industry such as skin care, hair care, oral care, sun protection and others is propelling the market for nutricosmetics during the forecast period.
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Orally consumed products of nutricosmetics such as liquids or pills are expected to gain traction among the busy lifestyle and rising urban population over the forecast period. The cosmetics market, which is one of the major drivers of the nutricosmetics market is expected to exhibit a CAGR of 5.2% during 2017-2025 and is projected to retain the trend over the forecast period. Among product type, vitamin segment accounted for over 56.6% share of the global nutricosmetics market in 2016 and its dominance is projected to be retained over the forecast period.
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