Nutricosmetics Market, By Ingredients (Carotenoids, Vitamins, Omega 3 Fatty Acids, Others), By Application (Skincare, Haircare, Personal Care, Weight Management, Others), and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
The global nutricosmetics Market size is projected to reach a CAGR of 7.7% from 2023-2030.
Nutricosmetics are specialized products that are designed to aid health and beauty. Nutricosmetics are prepared with the incorporation of nutraceutical ingredients and have the potential to improve overall health. Orally deliverable nutricosmetics are gaining significant attention from consumers due to their efficacy to boost overall skin or hair health by providing nutrition from the inside.
The growth of the market can be attributed to various factors such as rising consumer awareness regarding skin and hair problems, increasing demand for nutricosmetics in developed nations, growing elderly population that will foster the market growth and awareness towards preventive health management practices.
On the other hand, the major factors hampering the growth of the market are lack of credibility in many products and low awareness among consumers about the benefits of nutricosmetics.
The beauty industry witnessed major disruptions in the initial months of the COVID-19 pandemic, with global sales experiencing a slump in 2020. However, the nutricosmetics sector remains resilient, owing to the increased awareness of personal health and well-being during the pandemic. Furthermore, the beauty industry is recovering gradually from the turmoil of 2020, which will provide opportunities for the nutricosmetics industry development over the forthcoming years.
The nutricosmetics market is poised for significant growth in the coming years, driven by the increasing demand for natural and organic cosmetic products that promote beauty and wellness from within. Nutricosmetics combine the benefits of both nutrition and cosmetics, offering consumers a holistic approach to beauty and skincare.
The use of natural and organic ingredients in nutricosmetics is a key trend driving growth in the market, as consumers become more aware of the potentially harmful effects of synthetic chemicals in traditional cosmetics. Additionally, the growing focus on preventative health and wellness is leading consumers to seek out products that offer long-term benefits, such as improved skin health and anti-aging effects.
Europe to Dominate the Market