Global Nutracosmetic Market is valued at approximately USD 3.6 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.7% over the forecast period 2022-2029. Nutracosmetic refers to specialized products that are formulated to promote health and beauty. Nutracosmetics are prepared with the application of nutraceutical ingredients. Nutracosmetics are rich in Micronutrients such as omega 3 fatty acids, carotenes and so on. that reduce the effects of free radicals in the skin. These products are available in tablets and intended for oral consumption. The increasing demand for beauty and health supplements worldwide and growing issues pertaining to the skin as well as strategic initiatives from leading market players are key factors accelerating the market growth.
According to Statista - In 2021, the global dietary supplements market was estimated at USD 137 billion, and the market is projected to grow to USD 185.1 billion by 2025, witnessing a compounded annual growth rate of 7.81%. Also, growing healthcare spending in developing regions and increasing penetration of online sales channels would create lucrative growth prospects for the market over the forecast period. However, lack of awareness regarding the benefit of nutricosmetic stifles the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Nutracosmetic Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of market share owing to the growing consumption of dietary supplements & presence of leading market players in the region. Whereas the Asia Pacific is expected to grow with the highest CAGRduring the forecast period, owing to factors such as rising penetration of e-commerce platforms as well as growing healthcare spending in the region.
Major market players included in this report are:
Herbalife nutrition ltd
GNC Holdings LLC
Shiseido Company, Limited
Suntory Holdings Limited
Recent Developments in the Market:
In June 2020, Amway launched TRUVIVITY OxiBeauty Nutricosmetic Food Supplement. This new supplement contains copper as well as the PhytoVibrant complex of Aronia berry and sage. It protects cells from oxidative stress and supports normal skin pigmentation.
In March 2021, Ingredients supplier Nexira launched a new line of natural ingredients and botanical extracts for the nutricosmetics industry, under the NutriBeauty Range. This new ingredient promotes the luminosity of the skin and anti-ageing effects such as skin firmness and elasticity as well as cellular regeneration.
Global Nutracosmetic Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Ingredient, Application, Demographic, Distribution Channel, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Distribution Channel
Hypermarket and Supermarket
Pharmacies and Drug Stores
Online Sales Channel
Rest of the World