Nutricosmetics can be defined as a blend of nutrition and cosmetics that intends to improve the standard of the skin and rejuvenate it. These products can significantly impact the standard of hair, skin, and nails. The intake of these nutricosmetics market demands better maintaining of diet charts as well. Most of the dermatologists feel that a holistic change can impact the market the most. The market is also witnessing growth with significant anti-aging vitamin supplements. People are now focusing more on how to improve the well-being of the commoners, which can inspire better proliferation chances in diverse sectors. The global market is calculating a CAGR of 6.45 % between 2021 to 2028 to make sure that it achieves well-over USD 6,530.98 million valuation market by the end of 2028. Market Research Future (MRFR) is claiming better prospects for the market in the coming years.
What factors are contributing to the global nutricosmetics market growth?
The nutricosmetics market can witness better traction from increasing demand for clean label products. Several other factors like a hike in demand for anti-aging supplements, better awareness regarding health, and others can trigger market growth in the coming years. But its random consumption can lead to adverse impacts on the market, which can pull back the market growth.
The nutricosmetics market is gaining traction from several quarters and it is depending a lot on the growing integration of various strategic developments these companies are showing. These strategies include a merger, acquisition, tie-ups, and other moves. These companies are Alès Groupe (France), Nature's Herbs & Wellness (US), Nutrinelife (India), Lonza Group (Switzerland), Nutrilo GmbH (Germany), Skinside A.G. (Switzerland), Koninklijke DSM N.V. (Netherlands), Inovacure (France), Church & Dwight Co. (US), Functionallab Group (Canada), and others. MRFR includes comprehensive studies with various data to simplify the understanding of the market.
In October 2019, Givaudan announced that they are planning to invest in personalizing their nutricosmetic segment using their state-of-the-art microbiome analyzer. They are expecting high nutricosmetics market growth in the coming years owing to the growth in investment for personalized products.
The global nutricosmetics market report has its focus on several segments that can influence the market route chart for the coming years. These segments are type, function, and distribution channels, which can substantiate the market understanding with factors to scientifically establish various aspects.
By type, the report on the global nutricosmetics market size includes premixes, beauty drinks, capsules & tablets, and others. The beauty drinks segment is all set to gain better traction for the market in the coming years as rising health awareness is setting trends.
By function, the report on the global nutricosmetics market share focuses on hair care, skincare, nail care, oral care, and others. The hair care segment has substantial growth potential. The skincare segment can also influence significant growth.
By distribution channel, the global nutricosmetics industry trends includes store-based and non-store-based. The store-based segment includes specialty stores, supermarkets & hypermarkets, and others.
Europe has a better scope for the increase in market penetration. The region is showing significant domination in the global market and in 2018, it had over 39.24% market share under its name. The hike in elderly population getting concerned about their well-being is significantly providing traction to the market. The regional pharmacy-based channeling of the distribution, better investment capacity, hike in consumers' ability to get hold of these products, and others are expected to make sure that the market finds better growth possibilities in the coming years.
The Asia Pacific region is showing immense possibilities in terms of contribution to fetching revenues. The massive population residing here and their increased buying capacity with better awareness related to products are expected to make sure that the market continues its growth streak. Countries like China, India, and others are holding substantial market promise. The regional aging population is expected to provide better traction in the coming years.
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