Newark, Sept. 03, 2024 (GLOBE NEWSWIRE) -- The global nutricosmetics market is expected to grow from USD 7.92 billion in 2023 to USD 16.93 billion by 2033, at a CAGR of 7.9% during the forecast period 2024-2033. The rising demand for a natural alternative to beauty and skin health drives the market's growth. The aging population widely uses nutricosmetics to improve overall well-being and retain a youthful appearance, propelling the market's growth. Moreover, growing awareness regarding the organic nutrients in beauty products adds impetus to the market's growth.
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Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 7.9% |
| 2033 Value Projection | USD 16.93 Billion |
| Market Size in 2023 | USD 7.92 Billion |
| Historical Data | 2020-2022 |
| No. of Pages | 237 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | Product Type, Application, Regions |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Nutricosmetics Market Growth Drivers | Costumers' inclination towards natural products |
Key Insights on Nutricosmetics Market
The carotenoids segment dominated the market, with a market share of 36.2% in 2023.
The product type segment comprises vitamins, omega 3 fatty acids, carotenoids, and others. The carotenoids segment dominated the market, with a market share of 36.2% in 2023. Carotenoids contain antioxidants that are good for hair, skin, and nails, driving the segment's growth.
The online distribution channel segment is expected to grow at the fastest CAGR of 8.8%.
The distribution channel segment is divided into online and offline. Over the forecast period, the online distribution channel segment is expected to grow at the fastest CAGR of 8.8%. The increasing penetration of the internet post the outbreak of the covid-19 pandemic has increased the sale of nutricosmetics through online distribution channels. Various online retailers started selling nutricosmetics products through the online retail shops driving the segment's growth.
In 2023, the skin care segment dominated the market, accounting for 33.2% of global revenue.
The application segment is divided into skin care, personal care, weight management, haircare, and others. In 2023, the skin care segment dominated the market, accounting for 33.2% of global revenue. Nutricosmetics products are widely used to treat skin conditions such as wrinkles, sagginess, and sunburn, which affect the segment's growth.
Market Trends: Beauty from Within
The global nutricosmetics market is set for explosive growth over the next decade. From 2024 to 2033, we're witnessing a seismic shift in how consumers approach beauty and wellness. Gone are the days when topical creams alone ruled the roost. Today's savvy consumers are embracing the "beauty from within" philosophy, driving the nutricosmetics market to new heights.
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Key trends shaping the industry include:
• Personalization: Tailored nutricosmetic solutions based on individual needs and genetic profiles
• Clean Label Movement: Surge in demand for natural, organic, and sustainable ingredients
• Digital Integration: AI-powered apps recommending personalized nutricosmetic regimens
• Holistic Wellness: Blurring lines between beauty, nutrition, and overall health
Regional Segmentation Analysis:
The nutricosmetics market is analyzed based on five regions: North America, Europe, Asia Pacific, South America, Middle East, and Africa. Europe is expected to be the largest market during the forecast period. The nutricosmetics market in Europe has been expanding rapidly due to the presence of the elderly population in the region. The region also has the presence of prominent market players that drives the growth of the market in the region. Changing lifestyle in the region owing to an increase in income makes it possible for the consumers to opt for healthier food and beverages to improve their overall health, skin, hair, and nails. This is expected to add impetus to the market during the forecast period.
Competitive Analysis:
The major players in the nutricosmetics market include Cargill, Incorporated, DuPont, Nestle, L'Oreal International, Skin side AG, Croda International Plc, Pfizer Inc., Ashland, and Vitabiotics Ltd., among others.
Consumer Demographics: Beauty for All
The nutricosmetics market is no longer the exclusive domain of affluent middle-aged women. Today's consumer base is diverse and expanding:
• Millennials & Gen Z: Driving demand for preventative and holistic beauty solutions
• Men: Growing segment embracing beauty-enhancing supplements
• Silver Generation: Seeking age-defying and vitality-boosting products
• Health-Conscious Professionals: Integrating nutricosmetics into busy lifestyles
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