Newark, July 25, 2022 (GLOBE NEWSWIRE) -- The report published by The Brainy Insights shows that the global nutricosmetics market is expected to grow from USD 6.8 billion in 2021 to USD 13.4 billion by 2030, at a CAGR of 7.9% during the forecast period 2022-2030.
Nutricosmetics are a combination of nutrients used to manufacture functional foods and supplements to support the function and structure of the skin, hair, and nail. Nutricosmetics contain several types of micro-nutrients, including vitamins A, E, and C, which are well-established antioxidants beneficial in reducing the side effect of free radicals on the skin. Nutricosmetics are also helpful in producing new collagen to protect the skin from ultraviolet (UV) light exposure. Nutricosmetics products are mainly consumed orally and are available in pills and liquid forms. Pfizer Inc., a prominent market player in nutricosmetics products, is increasingly focusing on the market's growth through various forms of business development and by advancing its pipeline and maximizing the company's value in-line products.
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Competitive Strategy
To enhance their market position in the global nutricosmetics market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR | 7.9% |
| 2030 Value Projection | USD 13.4 Billion |
| Base Year | 2021 |
| Nutricosmetics Market Size in 2021 | USD 6.8 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 135 |
| Segments covered | Product Type, Distribution Channel, Application |
| Nutricosmetics Market Growth Drivers | Costumers' inclination towards natural products |
| Increasing demand in the healthcare sector |
Market Growth & Trends
Nutricosmetics products are widely used to treat several health issues, such as hair, skin, and nails, and provide natural beauty to the overall appearance of a human body. Hectic lifestyle and increased pollution have badly affected the hair, skin, and nails, propelling the market's growth. The rising elderly population and increasing awareness about an improved lifestyle add impetus to the market's growth. However, a large population is still unaware of the health benefits of nutricosmetics products, which adversely affects the market's growth. Nutricosmetic products are widely used in the healthcare sector to treat skin-related issues such as wrinkles, hair loss, and scalp problems associated with the deficiency of various nutrients. This is an opportunity for market growth during the forecast period. The outbreak of the Covid-19 pandemic hampered the market's growth as several manufacturing units were temporarily put on hold, and the supply chain was disrupted, which is a challenge for the market's growth.
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Key Findings
● In 2021, the carotenoid segment dominated the market with the largest market share of 36% and market revenue of 2.4 billion.
The product type segment comprises vitamins, omega 3 fatty acids, carotenoids, and others. In 2021, the carotenoid segment dominated the market with the largest market share of 36% and market revenue of 2.4 billion. Carotenoids have antioxidant properties, which benefit hair, skin, and overall health, propelling the segment's growth.
● In 2021, the online segment accounted for the largest share of the market, with 83% and a market revenue of 5.6 billion.
The distribution channel segment is divided into online and offline. In 2021, the online segment accounted for the largest share of the market, with 83% and market revenue of 5.6 billion. Increasing penetration of the internet and the outbreak of the Covid-19 pandemic increased online shopping among consumers, which increased the segment's growth.
● In 2021, the skin care segment accounted for the largest share of the market, with 33% and a market revenue of 2.2 billion.
The application segment is divided into skin care, personal care, weight management, haircare, and others. In 2021, the skin care segment accounted for the largest share of the market, with 33% and market revenue of 2.2 billion. The increasing use of nutricosmetics for skin care to treat wrinkles, tanning, and sagging skin drives the market's growth in the segment. Furthermore, nutricosmetics products are also used for other skin-related issues propelling the market's growth.
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Regional Segment Analysis of the Nutricosmetics Market
● North America (U.S., Canada, Mexico)
● Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, Rest of APAC)
● South America (Brazil and the Rest of South America)
● The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, Europe emerged as the largest market for the global nutricosmetics market, with a market share of around 42% and 2.8 billion of the market revenue in 2021. Growth in the pharmaceutical and cosmetic industry in the region propels the market's growth. The growing elderly population and rising per capita income are expected to add impetus to the market's growth in the region. The increasing penetration of nutricosmetics products in the European market also propels the growth of the market in the region.
Key players operating in the global nutricosmetics market are:
● Cargill
● Incorporated
● DuPont
● Nestle
● L'Oreal International
● Skinside AG
● Croda International Plc
● Pfizer Inc.
● Ashland
● Vitabiotics Ltd
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Brainy Insights has segmented the global nutricosmetics market based on the below-mentioned segments:
Global Nutricosmetics Market by Product Type:
● Vitamins
● Omega 3 fatty acids
● Carotenoids
● Others
Global Nutricosmetics Market by Distribution Channel:
● Online
● Offline
Global Nutricosmetics Market by Application:
● Skincare
● Personal care
● Weight Management
● Haircare
● Others
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About the report:
The global nutricosmetics market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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