Nutricosmetics Market Report 2024 | Size, Share, Growth, Trends, Analysis, Forecast, Outlook, Mergers and Acquisitions, Top Major Key Players, Competitive Landscape | 2033 Forecast

The nutricosmetics market size has grown strongly in recent years. It will grow from $6.84 billion in 2023 to $7.51 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to regulatory changes, influencer and celebrity endorsement, market innovation, anti-aging demands, beauty from within concept..

The nutricosmetics market size is expected to see strong growth in the next few years. It will grow to $10.51 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to research and development, consumer lifestyle changes, digitalization in marketing, aging population, environmental sustainability.. Major trends in the forecast period include transparency and trust, personalized nutrition, digital influence, targeted beauty solutions, product innovation, ai based solution.

Market Overview -
Nurticosmetics refers to nutritional supplements that enhance the natural beauty of the skin, nails, and hair. The primary benefit is the anti-aging effect, which is claimed to reduce wrinkles by scavenging free radicals produced by sun radiation.

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The Impact Of Consumer Awareness On Nutricosmetics Growth
Rising consumer awareness regarding skin and hair problems is expected to propel the growth of the nutricosmetics market going forward. Skin problems refer to skin-related diseases and disorders that may result in rashes, inflammation, itching, or other changes to the skin. Hair problems refer to issues with the hair and scalp, including issues that cause itching and scaling, infections, and hair loss. People are getting more cautious about these issues and taking precautions to address them. Nutricosmetics are scientifically supported oral nutritional supplements intended to promote skin health and beauty. As a result, increased awareness of skin and hair concerns assists consumers in incorporating nutricosmetics into their daily routine. For instance, in January 2021, according to an article shared by Automat.ai, a Canada-based business service, software, and computer software company, in the US, sales of skincare products increased by 13% last year, while sales of makeup items increased by 1%. At that time, the growth of online beauty merchants was 24%, with skincare taking the lead. Therefore, rising consumer awareness regarding skin and hair problems is driving the growth of the nutricosmetics market.

Competitive Landscape -
Major companies operating in the nutricosmetics market report are Suntory Holdings Limited, KORA Organics, Herbalife Nutrition Ltd., Blackmores Limited, Beiersdorf AG, Amway Corporation, Fit Glow Healthcare Private Limited, BASF SE, Vitabiotics, GliSODin, GlaxoSmithKline plc, Functionalab Inc., Activ'Inside, Cantabria Labs, GNC Holdings Inc., Koninklijke DSM N.V., Pfizer Inc., Lonza Group AG, Lucas Meyer Cosmetics S.A.S., Borba Inc., Sabinsa Corporation, Nutrilo GmbH, Solgar Inc., Nestle S.A.T, L'Oreal SA, Cargill Incorporated, The Coca-Cola Company, E.I. Du Pont De Nemours, Vital Proteins LLC, HUM Nutrition Inc., NV Perricone LLC, Murad LLC

Nutricosmetics Market Trends Spotlight Innovative Product Developments
Innovative product developments are a key trend gaining popularity in the nutricosmetics market. Major companies operating in the nutricosmetics market are developing innovative products to strengthen their position in the market. For instance, in January 2023, Neutrogena, a US-based cosmetics, skincare, and hair care producer owned by parent company Johnson & Johnson, launched Nourished x Neutrogena Skin360 SKINSTACKS. This customized skin care supplement uses AI technology to craft customizable 3D-printed to address specific needs. Customers must visit the SkinStacks website and take three selfies for Neutrogena's 'Skin360' AI technology to assess the smoothness, luminosity, clarity, fine lines, and wrinkles on their skin. It helps to determine one's skin's precise needs by asking about their present skincare regimen and future goals. The technology subsequently provides a customized blend of nutrients to enhance skin problems and achieve the user's skincare objectives.

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Key Segments -
The nutricosmetics market covered in this report is segmented -
1) By Type: Capsules, Tablets, Softgels, Drinks, Powders, Candies, Other Types
2) By Ingredients: Carotenoids, Vitamins, Omega 3 Fatty Acids, Other Ingredients
3) By Distribution Channel: Supermarkets And Hypermarkets, Online Pharmacies, Retail Pharmacies, Specialty Stores
4) By End-Use: Skincare, Haircare, Nailcare, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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