Market Size of Europe Nutricosmetics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.54 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Nutricosmetics Market Analysis
Europe's nutricosmetics market is expected to reach a CAGR of 8.54% over the next five years.
Nutricosmetic products are nutraceuticals that improve the condition of skin, hair, and nails by supplementing nutrients. They are products and ingredients developed around the correlation between good health and beauty. They are beauty-dietary supplements that help the skin to improve or heal with the oral intake of nutritional substances. These supplements offer a wide range of benefits for the skin, such as softening of wrinkles and lines, as well as improving elasticity and roughness. 'Beauty from within' is gaining acceptance among customers, particularly among aging populations in developed economies. The inclusion of active ingredients, such as collagen and omega-3 and -6 fatty acids, in nutricosmetics is likely to transform the beauty industry.
Consumers in the region are increasingly spending on various types of nutricosmetics products owing to the rise in concerns about the natural ingredients in beauty products. Increasing disposable income encourages people to buy nutricosmetic products, thus significantly boosting the market. For instance, according to the International Monetary Fund, the gross domestic product (GDP) per capita in France was USD 42,409 in 2022. Additionally, consumers are favoring products with natural, organic, plant-based, vegan, and non-GMO ingredients. Brands that prioritize clean label formulations and transparent ingredient sourcing are enticing a larger group of the health-conscious consumer base. The market players are aunching new vegan and natural-based nutricosmetics to cater to rising demand. For instance, in July 2023, Monteloeder, a Spanish-based health and wellness company, and a subsidiary of SuanNutraintroduced a vegan-friendly gummy format for its Eternalyoung anti-aging botanical blend.
