Nutricosmetics Market

Nutricosmetics Market By Product Type (Tablets And Capsules, Gummies, Powder, And Others), Application (Skin, Hair, And Nails), Distribution Channel (Online And Offline), and geography is expected to grow at a steady CAGR forecast till 2030 owing to the rising demand for natural health products and the growing consumer awareness about aesthetics and beauty, among others.

The global nutricosmetics market was valued at USD 7,495.13 million in 2023, growing at a CAGR of 8.20% during the forecast period from 2024 to 2030 to reach USD 11,988.24 million by 2030. The demand for nutricosmetics is primarily being boosted owing to key factors such as the rising demand for natural health and beauty products, growing awareness among the urban population associated with the use of nutricosmetics, along with the recent product launches and innovations in the nutricosmetics market growth during the forecast period from 2024-2030.

Nutricosmetics Market Dynamics:

One of the key factors influencing the growth of the nutricosmetics market is the rising demand for natural health and beauty products made of organic substances. In recent years, there has been a rapid shift in the preference for nutricosmetics over synthetic beauty products. The main reasons that can be attributed to this are the cases of skin allergies, burning sensations along with its non-suitability with particular skin types.

With the onset of such instances, the increased awareness has contributed to consumers’ understanding and appreciation of the connection between health and natural products and as a result, increases in demand for natural products and nutricosmetics.

Along with the above-stated factors, the rising number of innovations in the nutricosmetics sector is also expected to drive the market demand for nutricosmetics. For instance, in June 2020, Amway launched TRUVIVITY™ OxiBeauty, which is a holistic and effective nutricosmetic food supplement with ingredients that support the structure and function of radiant skin including nutrients that help protect against oxidative stress, and the associated cell and tissue breakdown which play a major role in skin aging.

Hence, due to growing awareness of nutricosmetics and its rising product launches, the demand for them is likely to increase which is likely to propel the growth of the overall nutricosmetics market during the forecast period from 2024-2030.

However, the rising cases of consumer impatience due to prolonged result times, among others may restrict the growth of the Nutricosmetics market.

Nutricosmetics Market Segment Analysis:

Nutricosmetics Market By Product Type (Tablets And Capsules, Gummies, Powder, And Others), Application (Skin, Hair, And Nails), Distribution Channel (Online And Offline), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the product type segment of the nutricosmetics market, the gummies category is expected to hold the largest share of XX% in the year 2023. This can be attributed to the wide applications and advantages associated with gummies or soft chews during the given forecast period.

Gummies, owing to their chewy texture and candy-like taste, have observed a wide end-user base among people of all age groups. The majority of the population craves some kind of sweet candies, and owing to the gummy texture of these supplements, a vast majority of people can have it irrespective of time, without any potential health hazards.  Thus, nutricosmetic products in the form of gummies that aim to provide essential vitamins and nutrition, enhance one’s beauty and aesthetic looks with no compromise in taste.

Moreover, in June 2021, Nature's Bounty® Optimal Solutions launched its Advanced Hair, Skin & Nails Jelly Beans. These innovative delicious mixed berries, strawberry, and watermelon fruit-flavored jelly beans are a first in the beauty supplements arena, including keratin and twice the amount of biotin as the brand's original formula.

Thus, due to the applications and advantages of gummies in the nutricosmetics market, along with the rising product launches, the interplay of all the above factors is expected to drive the growth of the gummies category, thereby propelling the overall growth of the Nutricosmetics market during the forecast period from 2023–2030.

North America is expected to dominate the overall Nutricosmetics Market:

Among all the regions, North America is expected to hold the largest share of XX% in the global Nutricosmetics market in 2023? Some of the factors responsible for the growth of North America’s Nutricosmetics market are the increasing food and pharmaceutical industry, cases of vitamin deficiencies, the growing end-user base for nutricosmetics owing to the increasing awareness, growing geriatric population, among others in the region, will influence the growth of the Nutricosmetics market in the region.

Furthermore, the presence of key market players and the rising research and development activities on nutricosmetics is also driving the market growth for nutricosmetics in North America.

The growing cases of vitamin deficiencies in the North America region will assist in more uptake of nutricosmetics in the forthcoming years. According to statistics by the US Department of Health and Human Services and the US Department of Agriculture (2020), 94.3% of the US population does not meet the daily requirement for vitamin D, 88.5% for vitamin E, 52.2% for magnesium, 44.1% for calcium, 43.0% for vitamin A, and 38.9% for vitamin C. Vitamin deficiencies lead to reduced and poor quality of skin texture, along with the many potential health effects that may occur. Thus, the increasing cases of vitamin deficiencies in the US can further lead to the adoption of nutricosmetics by people in their day-to-day life.

Furthermore, the presence of key market players such as Amway, Herbalife Nutrition, and Johnson and Johnson Services, Inc., among others ensure that their in-house and worldwide client demands are met. Therefore, the increase in the demand for nutricosmetics in the region will lead to a subsequent rise in the growth of the North America nutricosmetics market during the forecast period from 2024-2030.

Key Nutricosmetics Companies In The Market:

Some of the key market players operating in the nutricosmetics market include Amway Corp., BASF SE, Bayer AG, Herbalife Nutrition, Symrise, Seppic, Nexira, Johnson and Johnson Services, Inc., Biova, Laboratorios de Formulaciones Avanzadas S.L., TOSLA Nutricosmetics, DSM, noVadiet S.A., kynd. life, Martinez Nieto S.A., and others.

Recent Developmental Activities in the Nutricosmetics Market:

• In October 2021, Seppic launched SEPITONE™, a natural ingredient, obtained from fermented wild bilberry extract, offering a unique richness in proanthocyanidins. Proanthocyanidins offer powerful protection against oxidative stress with beneficial effects on collagen, skin elasticity, and blood circulation.
• In June 2021, The Natural and Non-Prescription Health Products Directive of Health Canada approved Biova’s BiovaBIO supplement, for claiming new hair thickness BiovaBIO is a water-soluble egg membrane ingredient, and its supplementation may result in improvement in both hair thickness and skin tone after 8 weeks.
• In March 2021, Nexira announced the launch of a new line of natural ingredients and botanical extracts for the nutricosmetics industry, under the NutriBeauty Range. The new line included formula ranges that addressed the main market segments – Glow & Beauty to provide antioxidant protection, correct imperfections, and improve the luminosity of the skin, Youth & Prevention for anti-aging effects such as skin firmness and elasticity as well as cellular regeneration, and Hair & Nails Care to strengthen tired hair and weak nails.

Key Takeaways from the Nutricosmetics Market Report Study

• Market size analysis for current Nutricosmetics market size (2023), and market forecast for 5 years (2024-2030)
• Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global Nutricosmetics market.
• Various opportunities available for the other competitor in the Nutricosmetics market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current Nutricosmetics market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Nutricosmetics Market growth in the coming future?

Target Audience who can be benefited from this Nutricosmetics Market Report Study

• Nutricosmetics products providers
• Research organizations and consulting companies
• Nutricosmetics-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in Nutricosmetics
• Various End-users who want to know more about the Nutricosmetics market and the latest technological developments in the Nutricosmetics market.