Nutricosmetics Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2020-2024
Global Nutricosmetics Market: About this market
Technavio’s nutricosmetics market analysis considers sales from both offline and online distribution channels. Our study also finds the sales of nutricosmetics in APAC, Europe, MEA, North America, and South America. In 2019, the offline segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as subscription services for beauty supplements will play a significant role in the offline segment to maintain its market position. Also, our global nutricosmetics market report looks at factors such as health benefits offered by nutricosmetics, growing demand for clean label products for skincare, and rise in the aging population. However, availability of substitute products, low adoption of nutricosmetics in many countries, and growing threat from counterfeit products may hamper the growth of the nutricosmetics industry over the forecast period.
Global Nutricosmetics Market: Overview
The rise in the aging population
Anti-aging products are gaining popularity among the aging population as the skin undergoes severe changes with age. This is driving the growing demand for nutricosmetics as they have natural antioxidant properties. They are formulated using substances such as carotenes and resveratrol to prevent premature aging. Thus, the rise in the aging population will lead to the expansion of the global nutricosmetics market at a CAGR of over 5% during the forecast period.
Growing consumer demand for beauty from within products
End-users of skincare products are becoming aware that applying products to the skin is not as efficient as consuming beauty from within supplements that are specifically formulated for the hair, skin, and nails. Vitamins, colagens, and enzymes are the primary ingredients used in beauty supplements, such as nutricosmetics, which are used for controlling the signs of aging, skin brightening, increasing firmness, and reducing cellulite. Globally, these products are becoming prominent and are available as tablets, pills, gummies, and capsules. Beauty from within products such as nutricosmetics help enhance the beauty and eliminate the need for invasive and expensive treatments. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global nutricosmetics market during the forecast period 2020-2024, click here.
With the presence of several major players, the global nutricosmetics market is highly fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading nutricosmetics manufacturers, that include BORBA LLC, FunctionalabGroup, Herbalife Nutrition Ltd., Nestlé SA, New Avon Co., Pfizer Inc., Pola Orbis Holdings Inc., Unilever Group, Versailles BV, and Vitabiotics Ltd.
Also, the nutricosmetics market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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