Market Trends of Nutricosmetics Industry
Rise of Oral Skin Care
- The preventive, holistic, and eco-conscious approach delivers escalated growth of the skin care segment, with offers that support clinically studied active ingredients that quickly provide visible results to consumers, creating momentum. Additionally, the market for skincare in nutricosmetics is witnessing emerging ingredients for healthy skin, like pycnogenol and lycopene.
- Consumers' interests are inclined toward purchasing skincare products containing nutrients, including vitamin A, vitamin D, and omega-3 fatty acids, which have been linked to supporting skin health, offering manufacturers many opportunities to innovate. Moreover, players in the market are competing in terms of ingredients, product form, packaging materials, and other innovations.
- Also, companies in this segment incorporate naturally occurring active ingredients for clean alternatives, ranging from mushrooms in supplements to ground coffee in skin scrubs and seaweed in skin care. Moreover, companies are focusing on the distribution of products through various distribution channels such as pharmacies and other retail stores. Such factors are anticipated to drive the market during the study period.
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North America Holds the Largest Market Share
- The consumers of the region, predominantly the United States and Canada, tend to be skeptical of the idea of 'beauty foods' and are more likely to demand products like UV protection and wrinkle-smoothing products, creating a bullwhip in the product launch.
- For instance, in August 2021, Herbalife expanded into beauty from within with a carotenoid-based skin supplement. The company launched its new skincare products in the United States and Mexico markets. The company stated that the new product is marketed as Herbalife SKIN LycoGlow, based on Lycored Nutrient Complex. The company claimed that the product is a new multi-ingredient supplement aimed at skin health that features Lycored's tomato extract as a hero ingredient.
- According to the American Hair Loss Association, by age 35, two-thirds of American men will have some degree of appreciable hair loss. By age 50, approximately 85% of men have significantly thinning hair. As a result, the players in the market have been focussing on launching innovative products to cater to the rising consumer demand.
- For instance, in February 2021, Viviscal debuted a line of mix-in powdered supplements to boost hair health for men and women, diversely formulated with biotin and marine collagen. Thereby, manufacturers continuously introduce new product offerings to satiate the surging demand, which is projected to drive the market growth considerably.
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