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Nutricosmetics Market to Exhibit a Remarkable CAGR of 7.9% by 2030, Size, Share, Rising Trends and Opportunity Analysis

07-12-2023 09:12 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: The Brainy Insights

Nutricosmetics Market to Exhibit a Remarkable CAGR of 7.9%

The global nutricosmetics market is expected to grow from USD 6.8 billion in 2021 to USD 13.4 billion by 2030, at a CAGR of 7.9% during the forecast period 2022-2030. The rising demand for a natural alternative to beauty and skin health drives the market's growth. The aging population widely uses nutricosmetics to improve overall well-being and retain a youthful appearance, propelling the market's growth. Moreover, growing awareness regarding the organic nutrients in beauty products adds impetus to the market's growth.

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The carotenoid segment dominated the market with market revenue of 2.4 billion in 2021

The product type segment comprises vitamins, omega 3 fatty acids, carotenoids, and others. In 2021, the carotenoid segment dominated the market with a market revenue of 2.4 billion. Carotenoids contain antioxidants that are good for hair, skin, and nails, driving the segment's growth.

The online segment is expected to grow at the fastest CAGR of 8.8% over the forecast period.

The distribution channel segment is divided into online and offline. Over the forecast period, the online distribution channel segment is expected to grow at the fastest CAGR of 8.8%. The increasing penetration of the internet post the outbreak of the covid-19 pandemic has increased the sale of nutricosmetics through online distribution channels. Various online retailers started selling nutricosmetics products through the online retail shops driving the segment's growth.

The skin care segment accounted for the largest share of the market, with 33%.

The application segment is divided into skin care, personal care, weight management, haircare, and others. In 2021, the skin care segment dominated the market, accounting for around 33% of global revenue. Nutricosmetics products are widely used to treat skin conditions such as wrinkles, sagginess, and sunburn, which affect the segment's growth.

Read complete report at: https://www.thebrainyinsights.com/report/nutricosmetics-market-12805
Regional Segmentation Analysis:

The nutricosmetics market is analyzed based on five regions: North America, Europe, Asia Pacific, South America, Middle East, and Africa. Europe is expected to be the largest market during the forecast period. The nutricosmetics market in Europe has been expanding rapidly due to the presence of the elderly population in the region. The region also has the presence of prominent market players that drives the growth of the market in the region. Changing lifestyle in the region owing to an increase in income makes it possible for the consumers to opt for healthier food and beverages to improve their overall health, skin, hair, and nails. This is expected to add impetus to the market during the forecast period.

Competitive Analysis:

The major players in the nutricosmetics market include Cargill, Incorporated, DuPont, Nestle, L'Oreal International, Skin side AG, Croda International Plc, Pfizer Inc., Ashland, and Vitabiotics Ltd., among others.

About the Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.

Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: www.thebrainyinsights.com

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