The global nutricosmetics market is anticipated to grow significantly over the forecast period. Nutritional supplements supporting the structure and function of the skin are referred to as nutricosmetics. These nutricosmetics are consumed orally in both solid (pills) and liquid forms. Some of the major ingredients of nutricosmetics include vitamins (A, B6 and E), sterol esters, co-enzyme Q10, omega-3 fatty acids, lycopene, soy isoflavone proteins, beta-carotene probiotics, chondrotin and lutein. These ingredients act as anti-oxidants and function by controlling and cancelling the effects of free radicals (by products of biochemical reactions) and by providing anti-inflammatory protection to the skin against ultraviolet radiations.
Growing base of elderly population seeking cosmetic assistance and rapidly rising base of beauty conscious urban population are two of the most noteworthy drivers of this market. Furthermore, this market is driven by factors such as the introduction of innovative products exhibiting higher efficacies, implementation of regulatory norms such as the Food for Specific Health Issues (FOSHU) and the growing demand for nutricosmetics in the U.S.
Europe commands the largest share of the global nutricosmetics market. The presence of a large base of elderly population in developed Western European economies and the presence of high market penetration rates of these products in this region are some of the factors attributing to its large market share. The Asia-Pacific market also holds a significant share of the overall market majorly on account of the high usage rates of these products in Japan. The North American nutricosmetics market on the other hand is expected to grow at the fastest rate during the forecast period. Growing acceptance of nutricosmetics products especially the herbal supplements in the U.S. is identified as the highest impact rendering driver for this region.
The omega-3 fatty acids and carotenoids based nutricosmetics market are the fastest growing segments of this market. The introduction of innovative products catering to changing customer dynamics is a major factor accounting for the aforementioned inference.
This research study encompasses a competitive landscape of the nutricosmetics market. Revenue analysis, product benchmarking and strategic developments of key market players such as BASF, Solgar Inc., Nutrilo GmbH, Lonza Group LLC, Husumer Mineralbrunnen GmbH, Martek Biosciences Corporation, Functionalab and others are also provided in this report.
This report, by Grand View Research, takes a closer look at the nutricosmetics industry, providing a holistic perspective on market dynamics, trends, supply and demand. The report deep-dives into the market and segments it on multiple levels and providing key insights on a macro as well as micro level. The study aims at providing granular information, regarding estimates and forecasts for key product segments including traditional and herbal supplements, sports nutritional supplements, vitamins and dietary supplements and others. This report also encompasses demand estimates and forecasts of key raw material segments including carotenoids, omega-3, vitamins and others. The report also provides the same level of information for key regional markets.
This research report analyzes various factors which has been driving and inhibiting the global nutricosmetics market in the past. In addition, the report analyzes the impact of each driver and restraint on the market growth, which forms the base for market forecast. The report also showcases the opportunities available in the market which may act as future drivers for the market.
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Weaker consumer demand for lifestyle and wellbeing products due to social restrictions and lockdown policies shall have a negative impact on the demand patterns of cosmetic ingredients and certain categories of food additives. However, easing restrictions and public discourse about restarting economic activities in the consumer goods marketspace indicates that, the recovery of demand is imminent. The report will account for Covid19 as a key market contributor.