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Nutricosmetics Market Segmented by Product Type (Vitamins, Carotenoids, Omega-3 Fatty Acids), Form, Application, and Geography
Nutricosmetics Market - Size, Share,
Trends, & Forecast to 2025
Nutricosmetics are oral based nutritional supplements for beauty and skin health.
Nutricosmetics market is primarily driven by the expansion and consumer awareness in
personal grooming coupled with busy lifestyle of the growing urban population.
Nutricosmetics are health products which is mainly used for the treatment of hair, nail, skin
defects, sun protection and photoaging. Photoaging is aging mainly caused due to exposure to
ultraviolet (UV) light which causes brown spots and deep wrinkles. Antioxidants such as
vitamin E and C, green tea polyphenols, beta carotene, supplements containing polypodium
leucotomos, an extract of a Central American fern plant, and synergistic antioxidants has the
ability to reduce sun damage. Other micronutrients such as carotenes, flavonoids, and
omega-3 fatty acids also provides protection from ultraviolet light exposure and reduce the
aging of skin and wrinkle formation.
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Some of the key drivers to fuel the nutricosmetics market are rising retail shops across the
globe, rising popularity of ready to drink nutricosmetics beverages, preference for effective
and safe beauty solutions boosts the sales of cosmetics supplements, and growing consumer
awareness toward prevention of pre-mature skin aging along with others. The increasing
demand for skin care products and growth of global cosmetics market is expected to exhibit a
CAGR of 5.2% in terms of revenue during 2017-2025, which is expected to drive the
nutricosmetics market during the forecast period. The global nutricosmetics market size was
valued at US$ 5.16 billion (revenue) in 2016 which is expected to expand at a CAGR of
4.98% is also a major product to drive the nutricosmetics market during the forecast period.
Nutricosmetics: Success and Failures
Factors such as rapid innovation and technological advancements is expected to gain traction
in nutricosmetics market. For instance, in the U.S. Mars, food packaging company launched
Dove Beautiful (containing biotin, zinc and vitamins E and C) and Dove vitalize (containing
dark chocolate enriched with vitamin B). These products in spite of high investment in
product promotion failed to gain consumer demand in the U.S market. Nutricosmetics
products are subject to market regulations in Europe. For instance, in October 2010,
European Food Safety Authority’s (EFSA) approved the launch of Nesfluid, a functional
beverage along with other ingredients such as zinc, vitamin C and D, and selenium by Nestle.
The target consumers for nutricosmetics have widened over time as now has taken male
population on its ambit. Wellman Tricologic, a popular anti-hair loss product for men has
attracted customers in Europe.
Regional Insights
Europe, followed by North America and Asia Pacific, respectively, accounted for major share
in the global nutricosmetics market in terms of revenue in 2016 and the trend is estimated to
remain the same over the forecast period. In 2016, North America held a share of 26.12% in
terms of revenue, followed by Asia Pacific (24.03%). The growing demand for personal
grooming and busy lifestyles in Asia Pacific due to rising consumer awareness coupled with
growing retail sector is expected to drive growth of the global nutricosmetics market over the
forecast period. The global vitamins segment in the global nutricosmetics market is expected
to witness a CAGR of 11.65% from 2017 to 2025. Asia Pacific is expected to be the most
lucrative market during the forecast period, due to its rapidly growing economy, especially in
China and India, coupled with rising healthcare awareness, which in turn is expected to bend
the consumers towards nutricosmetics along with the regular diet. Moreover, the growing
retail sector across the region is also expected to boost the market for nutricosmetics from
2017 to 2025. For instance, according to India Brand Equity Foundation (IBEF)—a Trust
established by the Department of Commerce, Ministry of Commerce and Industry,
Government of India—the retail market in India is expected to nearly double to US$ 1 trillion
by 2020 from US$ 600 billion in 2015, due to income growth, urbanization, and attitudinal
shifts.
Multinational players need to tap potential addressable market in the emerging regions
with the help of geographical expansion
Major players including Frutarom Ltd, Lucas Meyer Cosmetics S.A.S., Sanofi-Aventis U.S.
LLC, Croda International Plc, and Pfizer Inc, Functionalab Inc, Laboratoire Oenobiol S.A.S.,
Laboratoires Inneov SNC., Beiersdorf Ag, BASF SE, Borba, Inc., Frutels LLC, ISOCELL
SA, GlaxoSmithKline Pharmaceuticals Limited, ExcelVite, Denomega Nutritional Oils AS,
Groupe Danone SA, IMCD Group BV, Lonza Group Ltd. among others are the key
competitors in the global nutricosmetics market. Product portfolio expansion and
geographical expansion are the key market trends which are expected to shape the industry in
the near future. For instance, ALPI Candy Factory has expanded its manufacturing units in
Croatia and Greece for the manufacturing of nurticosmetic products such as deo toffee, deo
lavender with sugar and without sugar along with others are some of the few products to
expand the growth of global nutricosmetics market during the forecast period.
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