New York, April 15, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Nutricosmetics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06062830/?utm_source=GNW
Moreover, due to pandemic conditions, there is a growing interest in botanical actives for beauty-from-within products. Factors such as unhealthy skin, led by constantly wearing face masks, which increases the demand for skin health supplements and attracts new consumers to opt for beauty supplements prior to the pandemic, significantly impacting the market growth during the study period.
The nutricosmetics market is driven by the rising consumer awareness regarding their skin problems, such as anti-aging, wrinkles, hair loss, scalp problems, etc. that are associated with various nutrient deficiency leading to a paradigm shift toward preventive health management practices amid the rising healthcare costs and increasing burden of lifestyle diseases. Thus, insisting on the consumption of nutricosmetics across the world.
Furthermore, robust demand for products that contain vitamins, omega-3, especially for skincare, holds a significant share in the market. Moreover, the beauty-from-within approach is garnering popularity among the millennial generation, as it is an attractive combination of beauty and health.
However, there is no clear demarcation for nutraceutical-based products, with variations across different countries. Thus, the complexity in regulatory, legislative, and technological aspects acts as a major hurdle for the market growth.
Key Market Trends
Skin Care Held a Prominent Share of the Market
The preventive, holistic, and eco-conscious approach is delivering escalated growth of skin care segment, with offers that supports clinically studied active ingredients that quickly deliver visible results to consumer are creating momentum. Additionally, the market for skincare in nutricosmetics is witnessing emerging ingredients for healthy skin, like pycnogenol and lycopene. Thus, in 2017, COR Group Italia launched an Indiegogo campaign for Lycomplete™, which acts against the effects of UVA-UVB. Moreover, players in the market are competing in innovations in terms of ingredients, product form, packaging materials, and others. In 2017, Nutrinovate combined Evolva’s Verite resveratrol and dissolvable film technology in its Reserol product range, available in dissolvable oral film strip system. Companies operating in this segment are moving to incorporate naturally occurring active ingredients for clean alternatives, ranging from mushrooms in supplements to ground coffee in skin scrubs and seaweed in skin care. For instance, in 2020, Ajinomoto health and nutrition announced the launch of indigo marine collagen protein powder, which provides a simple way to help diminish the effects of aging while revitalizing skin.
North America is the Fastest Growing Market
North America is the fastest-growing region in the global nutricosmetics market. The consumers of the region, predominantly, the United States and Canada tend to be skeptical of the idea of “beauty foods” and are more likely to demand products like UV protection and wrinkle-smoothing products creating bullwhip in the product launch. For instance, in 2020, SDIN® launched SunISDIN™ Softgel Capsules to the US market, an advanced combination of antioxidants, vitamins, and an essential mineral, to prepare the skin to fight photoaging, prevent oxidative stress, and support general skin health. Furthermore, according to the American Hair Loss Association, by the age of thirty-five two-thirds of American men will experience some degree of appreciable hair loss, and by the age of fifty approximately 85% of men have significantly thinning hair. Thus, Viviscal debuted a line of mix-in powdered supplements to boost hair health for both men and women, diversely formulated with biotin and marine collagen. Thereby, manufacturers continuously introducing new product offerings with an aim to satiate the surging demand is projected to considerably drive the market studied.
Competitive Landscape
The global nutricosmetics market is highly competitive with the strong presence of regional and global players in the market, where demand is mostly driven by beauty claims. Consumer awareness about brand know-hows is luring more start-ups into the market. For instance, In 2020, Care/of expanded into the beauty category with the launch of six new products, including collagen ingestible. Moreover, with the growing demand for nutricosmetics, players like GlaxoSmithKline PLC and Herbalife Limited, among others, are following various strategies like merger and acquisition and R&D to cater to the segment with a better storyline that connects consumers and delivers experiences with the product.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p06062830/?utm_source=GNW
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The global nutricosmetics market was valued at USD 6,925.49 million in 2020, witnessing a CAGR of 8.05% during the forecast period, 2021-2026
Globally, more and more individuals are seeking out combination products that help them look and feel good inside and out, such as, beauty-from-within such as joint health, healthy aging and more.
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