Nutricosmetics Market

Market Overview

The global nutricosmetics market size is to grow to USD 15816 million by 2030 at a CAGR of 9% from the early figures of USD 7343 million in 2021.

The nutricosmetics market is primarily driven by the increased awareness about health and wellness that has prompted the end consumers to choose high-quality products to achieve healthy skin and tone muscles. This increased awareness about health and wellness made the customers experiment with the wellness alternatives to traditional healthcare medicines and therapies, which are laying the foundation for the growth of the nutricosmetics market.

Nutricosmetics are wellness products that optimize the action of traditional cosmetics and are also considered an ideal nutritional supplement for a balanced dietary plan and an overall healthy lifestyle. These nutricosmetics fit perfectly into one daily routine with the beauty regimens giving visible results like silkier and shining hair, healthy and radiant skin, etc.

The market is anticipated to increase due to rising consumer demand for goods that promote nutrition and functional health. The constantly expanding older population, which seeks cosmetic help, and rising beauty consciousness, particularly among urban populations, would contribute to raising the growth of the worldwide nutricosmetics market over the coming years.

Market Dynamics

Drivers: High Benefits Associated with Nutricosmetics Driving the Nutricosmetics Market

Nutricosmetics optimizes the actions of traditional cosmetics and is considered one of the few ideal dietary plans for an overall healthy lifestyle. Nutricosmetics contain micronutrients such as Vitamin C, Vitamin A, zinc, and biotin, good for skin health. Apart from this, the current trend and the demand for nutricosmetics include more complex ingredients harvested from natural sources, which also cater to the public demand for organic products. The latest trends, including nutricosmetics, are the major proportion of complex ingredients that are extracted from natural sources like collagen peptides, tomato and rosemary extracts, and resveratrol.

Collagen is one of the major structural components of skin that comprises about 80% of its dry weight. The human skin gets affected by endogenous and environmental factors, including aging, ultraviolet radiation, hormones, and the most important one is nutrition. That is why it is of utmost importance to cater to the skin's nutritional needs naturally. But the current lifestyle does not allow the skin to get the essential nutrients through the diet options people are consuming.

That is why nutricosmetics which provide the necessary nutrients to the human skin, are in high demand. Along with this benefit, the other factor that is proving to be one of the key driving factors for the global nutricosmetics market is the increased awareness among people regarding their health and awareness.

• Demand for Natural Products

Over the past few years, a clear consumer trend towards "natural" skincare and cosmetics has emerged. Aligns with organic and environmentally friendly beauty brands. Natural alternatives are currently more popular among consumers than synthetic ones. Leading cosmetics companies are now producing herbal compositions instead of using hazardous or chemical additives in their products' formulations.

Restraints: Stringent Government Regulations and Product Guidelines Major Barrier to the Growth of the Nutricosmetics Market

The nutricosmetics product clearly lacks permission for promotion and categorization, especially in the European region. This is due to the lack of knowledge and considerable false information regarding the nutricosmetics ingredients and the benefits associated with them. Due to such false and incorrect information, the government imposed stringent regulations to promote and market the products, which is proving to be a major restraint on the growth of the global nutricosmetics market.

The European Food Safety Authority (EFSA) guidelines on the scientific requirements for health claims related to bone, joints, skin, and oral health claims related to the skin within Regulation 1924/2006. According to these guidelines, maintaining the normal structure of the skin, its hydration, elasticity, or appearance are outside the scope of the Regulations imposed considering the health and skin issues for a human being, as these do not refer to a physiological function and the beauty claims don't fall within. This is the one and only major restraint considering the global market  for nutricosmetics that can hamper the market's overall growth.

Opportunities: Probiotics Application in Nutricosmetics Creates Huge Opportunities in the Nutricosmetics Market

Fermented items containing probiotic fixings are generally used in the premium beauty market. The process required for creation is costly and challenging, which mirrors a great scope for innovation in the said category. The new trend among the people about 'beauty from within' is gaining popularity, and for that, people are trying out new things to care for their skin with the use of organic products that will help their skin to glow and, at the same time make it more healthy without any skin problems.

For this, there are ongoing research and developments that conclude that the introduction of probiotics in the manufacturing of nutricosmetics can be helpful in increasing its nutritional content and making it 100% risk-free to use for skin treatments.

Apart from this, the pattern of magnificence from inside is acquiring acknowledgment among the consumers that are driving the market for nutricosmetics forward and creating new opportunities in the industry. Organizations are further investigating the use of probiotics in cosmetics to treat skin issues, similar to skin breakout, rosacea, and dermatitis, which is creating new opportunities for manufacturers of skin products and specifically for the players working out in the nutricosmetics sector.

With all these advancements, one factor which plays an important role in giving the said market a necessary boost is the targeted needs of the consumers regarding the use of skin care products that are continuously evolving over time. Nowadays, consumers are keen on purchasing and utilizing organic skin products that mostly contain natural substances and at the same time nourish the skin with necessary nutrients. This is one of the key reasons why the nutricosmetics market is expanding beyond regions and offering lucrative opportunities for growth in the said market segment.

Regional Analysis

The global nutricosmetics market share is primarily segmented into North America, Europe, and Asia-Pacific. The Asia-Pacific region is the dominating global market with a market value of USD 3606 million in 2021 and is expected to grow to USD 7767 million by 2030 at a CAGR of 9%. The Asia-Pacific region is one of the emerging economies and developing as an industrial hub that caters to the overall growth and development of the global market for nutricosmetics. Major growing economies like India, China, and Japan are improving on their revenue generation for the market for nutricosmetics.

The second dominating region in the global nutricosmetics market is the Europe region, which accounts for a market value of USD 2193 million in 2021 and is expected to grow to USD 4239 million by 2030 at a CAGR of 8%. The European region is one of the most developed and industrially strong regions in the entire world, which contributes to major revenue generation in nearly every market field.

By the end of 2031, it is predicted that Italy will have a CAGR of ~10.5% for the European nutricosmetic market. It is projected that Italian consumers will continue to favor skincare products with natural and active ingredients. Product ease of use and absorption are also highly valued attributes. Italy has established a significant market for nutricosmetic goods in Europe thanks to its reputation for formula innovation and manufacturing business service qualities, allowing the Italian cosmetics sector to establish itself in established and developing countries.

The North American region is the third and the least contributing region to the global market for nutricosmetics, which has a market share expected to grow to USD 2974 million by 2030 at a CAGR of 10%. North America is one of the key market segments having a substantial market share the market for nutricosmetics, which is constantly growing over the forecasted period. . By the end of 2022, the U.S. is anticipated to hold the largest market share in North America. This is because, in the United States, about one out of every three dollars spent on cosmetics is now made online. Consumers can now choose healthier options for themselves and the environment previously thought to be inaccessible thanks to changing lifestyles brought on by increases in income; this propels the region's market toward significant growth and makes the U.S. a leading market for cosmetic products

Segmental Analysis

The global nutricosmetics market share is segmented by product and by form. When segmented by-products, the global nutricosmetics market is further classified into skincare, hair care, and nail care. The skincare segmentation dominated the market with a revenue generation of USD 4188 million in 2021 and is expected to grow to USD 8872 million by 2030 at a CAGR of 9%. Skincare products are the most selling cosmetic products all over the world. People are more concerned about their skin. The skincare market in the nutricosmetics is witnessing high growth with emerging ingredients for healthy skin like pycnogenol and lycopene. The manufacturers and vendors operating in this segment are trying to incorporate natural ingredients for clean alternatives ranging from mushrooms in supplements to grinded coffee for skin scrubs and seaweed in skincare.

The other segment, which contributes to a major market share in the hair care segment, accounts for a market value of USD 2411 million in 2021 and is expected to grow at USD 5066 million by 2030 at a CAGR of 9%. The nutricosmetics for hair care are included with biotin, zinc, selenium, copper, molybdenum, and manganese in order to have a good nutritional effect on the hairs. The demand for such nutricosmetics in hair care is increasing, and the companies are also improvising on the technologies like probiotics and stem cell-derived assets and the encapsulation of different ingredients for incubating the hair care products in the nutricosmetics.

The third and the least dominating segment in the by-product segmentation is nail care which accounted for a market share of USD 744 million in 2021 and is expected to rise to USD 1525 million by 2030 at a CAGR of 8%.

The global nutricosmetics market is segmented as tablets/capsules and powder & liquids based on form. The powder/liquids segment had the major market share that accounted for USD 3342 million in 2021 and is expected to reach USD 6850 million by 2030 at a CAGR of 8%. The reason behind such a huge market value is the high demand for cosmetic powders due to the ease with which such powders and liquids can be applied to the skin. The tablets or capsules also contributed to a significant market value of USD 3103 million in 2021 and are expected to grow to USD 6413 million by 2030 with a CAGR of 8%.

Impact of covid-19

The covid-19 extremity has bought overall health into focus; skin health and skincare are also coming to the van. According to a report, consumers of all ages, genders, and backgrounds are decreasingly putting in the work to learn further about their health and see beauty and well-being as more nearly connected. Together, these trends inform a set of top-of-mind values when shopping for products that help people look and feel good, similar to nutricosmetics.

This has also bolstered interest in factory-grounded, clean marker results that benefit consumers' appearance. The health industry has seen impeccable growth during the pandemic, but the cosmetics sector didn't. With the health emergencies arising during the pandemic, the manufacturing and processing of cosmetic products were kept aside, and all such manufacturing units were helping the healthcare industry to cater to the medical needs, which was a kind and noticeable gesture by the cosmetic industry.

Due to this, the production of cosmetic products was completely stopped for a period of time, hampered the overall market of the cosmetics and the nutricosmetics products. With this, there were huge losses in the said market segment, which dragged the global nutricosmetics market behind and caused a huge supply-demand gap.

Recent Developments

• In August 2022, Amway will invest in a startup focused on the microbiome as it pursues products for customized probiotic supplements.
• In June 2022, The commitment to the SDGs by the Spanish pharmaceutical company Cantabria Labs was made public with the release of its "Celebrate Life Manifesto."
• In March 2022, Cantabria Labs and the Valdecilla Health Research Institute (IDIVAL) signed a new collaboration pact.