Nutricosmetics Market - Analysis of Growth, Trends Progress and Challenges

Market Insights

Ingestible products that enhance beauty are gaining the attraction of aging population, and nutricosmetics market is expected to reach sales of USD 6 billion by 2022, at a CAGR of X%. New approaches for staying healthy and looking young are boosting the sales of nutricosmetics. In addition, the increasing aging population positively impacts the market growth.

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Market Dynamics
The approach of beauty-from-within is an accelerating trend among the millennial generation, as it is a pack/box of beauty and health. The preference for ingestible products over external application products is having a highly positive impact on the nutricosmetics market. In addition, extensive marketing and promotional offers, are expected to further drive the market at a high growth rate.

The product development time frame can range from two to six years, as the development involves bioavailability, selection, and formulation of the ingredients into the product. Moreover, the failure of foods meant for beauty has discouraged manufacturers from entering into new product forms. These factors have restrained the market nutricosmetics market growth.

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Market Segmentation
The market is segmented by the type of ingredient (carotenoids, vitamins, collagen peptides, CoQ10, green tea extracts, omega-3, phytonutrients, others), application (skin care, hair care, nail care) and region (North America, Europe, Asia-Pacific, South America, and RoW).

Skin care dominates the market, with a rise in the aging population. Vitamins, collagens, and enzymes are the primary ingredients used in skincare products. These products are used for the controlling signs of aging, skin brightening, sun protection, increasing skin firmness, and cellulite reduction.

Inhibition of collagen synthesis leads to skin aging and carotenoids help to overcome this condition by reducing the inhibition and blocking the UV-A and UV-B rays. Carotenoids are well known as coloring agents but they enhance the skin with their anti-ageing, skin lightening and sun care properties. Among the carotenoids, beta-carotene holds the major share, regarding value, followed by lutein, lycopene, and Astaxanthin.

Regional Analysis
Asia-Pacific holds a major share in the nutricosmetics end-product market, with a high awareness of the product efficiency and growing demand from the millennial generation. North America holds a share of the market, owing to regulatory guidelines and low awareness of the product. However, with the growing incidence of scientifically proven efficiencies, the market in this region is expected to improve in the coming years.

Some of the key players are-
• Murad
• Imedeen
• Borba Inc.
• Shishiedo Co. Ltd.
• Inneov (L’Oreal and Nestle)
• BASF SE
• Unilever Group
• Lonza Group Ltd.

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