Meticulous Research®, a renowned global market research firm, released a report titled, ‘Nutricosmetics Market by Product Type (Skin Care, Hair Care, Nail Care), Form (Powder, Liquid, Tablets, Capsules & Softgels, Gummies), Distribution Channel (Supermarkets & Hypermarkets, Pharmacies & Drug Stores, Specialty Stores, E-commerce) - Global Forecast to 2030.’
According to the latest report by Meticulous Research®, the nutricosmetics market is projected to achieve a compound annual growth rate (CAGR) of 7.9% between 2023 and 2030, reaching $12.20 billion by 2030. Factors such as increasing awareness regarding nutritional deficiencies, a rising consumer preference for natural health and beauty products, evolving lifestyles, and a growing elderly population are driving this growth. Moreover, the trend towards preventive health management and ongoing innovations in product development present promising opportunities for nutricosmetics manufacturers. However, challenges such as limited consumer awareness about the benefits of nutricosmetics and stringent regulatory measures are hindering the market's expansion.
Key Players
Major participants in the nutricosmetics market include Amway Corporation (USA), Shiseido Company, Limited (Japan), Koninklijke DSM N.V. (Netherlands), Nestlé S.A. (Switzerland), Suntory Beverage & Food Ltd. (Japan), LycoRed Ltd. (Israel), Lonza Group Ltd. (Switzerland), BASF SE (Germany), Herbalife Nutrition Ltd. (USA), Beiersdorf AG (Germany), Otsuka Holdings Co. Ltd. (Japan), and Sappe Public Company Limited (Thailand).
The nutricosmetics market is categorized according to product type, form, distribution channel, and geographical region. The research also assesses competitors in the industry and examines market dynamics at both regional and national levels.
Based on product type, the nutricosmetics market is divided into categories including skin care, hair care, nail care, and other product types. In 2023, it's anticipated that the skin care segment will hold the most significant portion of the market. This dominance is linked to factors such as the expanding elderly demographic, heightened awareness regarding skin health, and the surge in skin-related concerns like acne, wrinkles, and tanning. Nevertheless, the hair care segment is projected to experience the most rapid compound annual growth rate (CAGR) throughout the forecast period.
Based on form, the nutricosmetics market is segmented into various forms including powder, liquid, tablets, capsules & softgels, gummies & soft chews, and other forms. In 2023, it's projected that the powder form segment will dominate the market. However, the tablets segment is forecasted to exhibit the highest compound annual growth rate (CAGR) over the forecast period.
Based on distribution channels, the nutricosmetics market is categorized into distribution channels such as supermarkets & hypermarkets, pharmacies & drug stores, specialty stores, e-commerce, and other channels. It is anticipated that in 2023, the supermarkets & hypermarkets segment will hold the largest market share. This dominance is linked to factors including the expanding presence of high-quality product offerings in supermarket & hypermarket groceries, urbanization trends, growing disposable incomes per capita, heightened sales of functional food and beverages in well-established supermarkets and hypermarkets, and consumer inclination towards offline shopping due to the enriched shopping experiences provided by these channels.
Based on geography, in 2023, the Asia-Pacific region is projected to hold the leading share of the nutricosmetics market. This dominance is driven by factors such as enhanced accessibility to advanced medications, elevated usage of dietary supplements, rising demands for functional food and beverages, and heightened awareness regarding nutricosmetics particularly in Japan and China. However, North America is forecasted to witness the highest compound annual growth rate (CAGR) throughout the forecast period. This growth is attributed to factors including escalating research and development activities, surging incidences of skin ailments, increased adoption of advanced medications, and rising healthcare expenditures.
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Key questions answered in the report:
• What are the segments within the nutricosmetics market showing notable growth potential in terms of product type, form, distribution channel, and geographical region?
• What is the past performance of the global nutricosmetics market?
• What are the projected market figures and estimations for the timeframe spanning from 2023 to 2030?
• What are the primary factors propelling, limiting, posing challenges, offering opportunities, and shaping trends within the nutricosmetics market?
• How would you describe the competitive environment within the nutricosmetics market?
• What are the latest advancements or updates observed in the nutricosmetics market?
• What are the various growth tactics employed by the key players in the market?
• What are the significant geographical patterns, and which countries are experiencing notable growth within the nutricosmetics market?
• Who are the emerging local players in the global nutricosmetics market, and how do they fare in competition against other participants?
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