Asia-Pacific Nutricosmetics Market - Growth, Trends, and Forecast (2019 - 2024)
The Asia-Pacific nutricosmetics market is forecasted to reach USD 2.4 billion by 2024 growing at a CAGR of 9.24% during the forecast period (2019 - 2024).
The Asia-Pacific nutricosmetics market is driven by increasing awareness and interest in new technology, media coverage, and consumer demand.
The rising awareness of nutricosmetics and the huge population in China and India is expected to further boost the nutricosmetics market growth in the region.
Increasing awareness on the links between food consumption and enhanced beauty has increased the demand for beauty food products, in turn, create demand for nutricosmetic products.
The market has witnessed a rapid evolvement in both the developed and developing countries in Asia-Pacific.
Scope of the Report
The scope of the Asia-Pacific nutricosmetics market covers the various types of ingredients such as carotenoids, vitamins, collagen, omega-3 fatty acids, CoQ10, keratin and other ingredients of nutricosmetics. By distribution channel, the market is segmented as supermarket/hypermarket, drug stores/pharmacies, specialist stores, online stores and other distribution channels. The study also covers country level analysis of major countries like China, Japan, India and Australia.
Key Market Trends
High Demand For Carotenoids
The multifunctionality od carotenoids and wide application range in nutricosmetic industry have been driving the product demand in the region. The carotenoid market in Australia is largely dominated by its use both as a health ingredient and natural food color. Carotenoid-based beverages are the major end-use sector for nutricosmetic products in Australia, which includes fruit and vegetable juices, such as Berri’s Super Juice range. In India, the carotenoids market is increasing at a faster pace, driven mainly by the awareness of antioxidants and high demand of healthy food.
Japan is the Largest Market
According to the Japanese tradition, the development of nutricosmetics ingredients and finished products are based on scientific proofs and supported by demonstrated Japanese health requirements. Apart from FOSHU approved products, there are several non-FOSHU nutricosmetics products being marketed in Japan with at least off-label claims focused on health. In Asia-Pacific, and particularly in Japan, nutricosmetics, such as collagen are commonly found in foods and beverages including tea, cookies, chocolate, coffee, and water. The nutricosmetics market in Japan is a matured industry that features a wide assortment of products in various categories, including functional food and beverages, and nutritional and dietary supplements.
Asia-Pacific has the highest number of new products in the functional beauty benefits area where drinks, yogurt, and soup are the primary categories. China is the largest consumer of nutricosmetics, followed by Japan. The key players in the market are Amway, Dabur India Ltd, Shiseido Cosmetics, FANCL International, Inc. and Jebsen Consumer Products Co.. Ltd.
Reasons to Purchase this report:
The market estimate (ME) sheet in Excel format
Report customization as per the client's requirements
3 months of analyst support
Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook