Published Date : 22 Mar 2024
The global nutricosmetics market size was exhibited at USD 7.02 billion in 2023 and is anticipated to touch around USD 14.63 billion by 2032, expanding at a CAGR of 8.50% during the forecast period from 2023 to 2032.
Nutricosmetics, a blend of cosmeceuticals and nutraceuticals, is marketed for beauty purposes, claiming anti-aging benefits. The nutricosmetics market is rapidly evolving, with new concepts like cosmeceuticals and nutricosmetics emerging. Orally delivered nutricosmetics have gained popularity among consumers as a means of enhancing skin and hair health. The rising prevalence of skin issues, healthcare costs, and lifestyle diseases propel the worldwide market. To better serve the sector, rivals pursue mergers, acquisitions, and research while startups are venturing into this highly competitive and fragmented market.
The nutricosmetics market was dominated by Asia-Pacific in the year 2023. The developing beauty and wellness sectors, conventional beauty practices, rising disposable income, innovation in skin care products, and the growing trend towards health and well-being all contribute to the considerable growth of the Asia-Pacific market. The emphasis on natural and herbal components in nations like China, Japan, South Korea, and India has created a robust market for nutricosmetics. Asia-Pacific nations have burgeoning middle classes with increasing disposable money, driving growth in the beauty and wellness sectors. These nations are renowned for producing cutting-edge skincare products like nutricosmetics, which frequently combine conventional components with modern technologies.
A robust market exists for nutricosmetics, including natural and herbal elements, due to the region's long history of traditional beauty practices and growing disposable income. Businesses in Japan and South Korea are constantly creating new items to satisfy the needs of their customers. Customers increasingly demand natural and organic goods as they become more aware of the importance of nutrition in skin care and their general health.
| Report Coverage | Details |
| Market Revenue in 2023 | USD 7.02 Billion |
| Projected Forecast Revenue by 2032 | USD 14.63 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 8.50% |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Drivers
Use of social media
Social media drives the nutricosmetics market. Product debuts, celebrity endorsements, social media challenges, trends and virality in ingredients, and customer reviews may all help the industry expand. Products may become more in demand when ingredients like collagen, which are well-liked for their health or cosmetic qualities, become fashionable. Celebrity endorsements have the potential to go viral and increase exposure and sales. Companies frequently launch viral social media campaigns or challenges to advertise their goods.
Innovations and introducing new products may excite and create buzz among customers. Positive customer feedback and reviews can spread like wildfire, boosting business and sales. Customers may learn more about the advantages of nutricosmetics via social media platforms, where influencers are crucial in marketing these goods. User-generated material serves as a testimony while enhancing a brand's legitimacy and trustworthiness. Additionally, social media allows marketers to interact with their audience, create a community around their goods, and facilitate customers' discovery and purchase of nutricosmetics.
Beauty consciousness
Beauty consciousness refers to the growing emphasis on appearance, particularly in hair, skincare, and overall physical health. Nutricosmetics, a non-invasive, holistic approach, has been a significant player due to its anti-aging properties, prevention and maintenance benefits, and holistic approach. These products target customers seeking to prevent aging, maintain a youthful appearance, and improve skin health from the inside out. Self-care and wellness trends have also influenced the nutricosmetics market, with products promoting skin health from the inside out. Nutraceuticals help reverse the effects of lifestyle variables that may cause premature aging, promoting a more youthful look. Media and influencer influence contribute to the overall beauty consciousness and drive demand for nutricosmetics.
Seppic, a subsidiary of Air Liquide Healthcare, has conducted a clinical study on the hair benefits of its active ingredient, Ceramosides, derived from wheat lipids and phytoceramides.
Restraints
High costing
In the nutricosmetics market, price sensitivity is a significant barrier influencing customer behavior. Expensive pricing restricts middle-class people and can attract customers prepared to pay more by creating an impression of more excellent quality, exclusivity, and improved efficacy. For nutricosmetics to be successful, perceived value—which is impacted by components, brand reputation, packaging, and clinical evidence—must be high. Well-known companies with a proven track record and scientific backing are valued more highly. Testimonials and reviews from customers can also raise perceived value. When the market is competitive, customers may be more sensitive to pricing during recessions and choose more reasonably priced skincare products.
Cultural and regional differences
The nutricosmetics market may face obstacles due to cultural and regional variations in accessibility, skincare routines, food preferences, regulatory frameworks, Western influence, and beauty standards. Certain cultures may not share the same beauty standards, and some places may not be as accepting of traditional skincare practices. Regional and cultural preferences differ for Nutricosmetics products. For skin advantages, natural substances like ginseng and green tea are recommended throughout Asia-Pacific.
In Europe, people are looking for organic substances with anti-aging qualities, such as antioxidants and hyaluronic acid. Plant-based goods are gaining popularity in North America. For their moisturizing qualities, natural substances like avocado and coconut oil are preferred throughout Latin America. The popularity of nutricosmetics may be impacted by differences in dietary habits. Cultural norms and regulatory restrictions can sometimes make market entrance difficult. Furthermore, the restricted availability of nutricosmetics in some areas may make it more difficult for businesses to enter new markets and win over customers.
Opportunity
Innovation
Innovation in ingredients propels has an incredible opportunity for the growth of the nutricosmetics market; significant trends in this regard include collagen peptides, hyaluronic acid, antioxidants, probiotics, adaptogens, marine compounds, and plant-based components. Hyaluronic acid aids in moisture retention and wrinkle reduction, while collagen peptides promote skin suppleness and hydration. Vitamins C and E-antioxidants shield the skin from oxidative damage. While adaptogens assist skin health under stress, probiotics and prebiotics enhance gastrointestinal health.
Marine components such as algae extracts and fish collagen enhance skin hydration and elasticity. Aloe vera and turmeric, two plant-based substances, have anti-inflammatory, antioxidant, and skin-soothing qualities. Product combinations, personalization, and delivery system innovations can increase customer loyalty and satisfaction. Customers who care about the environment may be drawn to sustainability and moral business conduct. Educating consumers about the advantages of nutrition can foster confidence.
By Ingredient
By Application
By Intake Type
By Form
By Distribution Channel
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