Market Size of Nutricosmetics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.05 % |
| Fastest Growing Market | Asia |
| Largest Market | North America |
| Market Concentration | Low |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Nutricosmetics Market Analysis
The nutricosmetics market size is estimated at USD 8.09 billion in 2023 and is expected to reach USD 11.91 billion by 2028, registering a CAGR of 8.05% during the forecast period.
- The prevalence of vitamin deficiencies leads to various skin issues, such as anti-aging, wrinkles, hair loss, and scalp issues. Therefore, a robust demand for products containing vitamins and Omega-3, especially for skincare, contributes to a significant market share.
- Moreover, a paradigm shift toward preventive health management practices amid the rising healthcare costs and increasing burden of lifestyle diseases is another critical driver influencing the demand for nutricosmetics. Besides this, the growth of e-commerce has boosted the sales of nutricosmetics online.
- The companies operating in this space have focused on strengthening their online presence by collaborating with third-party retailers like Amazon. They also started offering personalized virtual consultations to consumers through their official websites. Additionally, skin issues caused by constantly wearing face masks increased the demand for health supplements, such as nutricosmetics.
- Furthermore, the market has been witnessing an increased demand for nutricosmetics products manufactured using natural ingredients due to growing consumer awareness of natural cosmetics and initiatives by various cosmetic companies to replace synthetic ingredients with natural variants.
- Furthermore, the beauty-from-within approach has gained immense popularity among millennials, as it seamlessly merges beauty and health. However, it is crucial to establish a discernible demarcation between nutraceutical-based products, which can differ significantly from one country to another. Consequently, the intricate web of regulatory, legislative, and technological challenges presents a substantial obstacle to market growth..
