Nutricosmetics – Insights
Nutricosmetics are oral based nutritional supplements for beauty and skin health. Nutricosmetics market is primarily driven by the expansion and consumer awareness in personal grooming coupled with busy lifestyle of the growing urban population. Nutricosmetics are health products which is mainly used for the treatment of hair, nail, skin defects, sun protection and photoaging. Photoaging is aging mainly caused due to exposure to ultraviolet (UV) light which causes brown spots and deep wrinkles. Antioxidants such as vitamin E and C, green tea polyphenols, beta carotene, supplements containing polypodium leucotomos, an extract of a Central American fern plant, and synergistic antioxidants has the ability to reduce sun damage.
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Market Dynamics
Europe dominated the market in 2016 and the trend is expected to remain the same during 2017-2025. The increasing demand for nutricosmetics in various applications such as skin care, hair care, oral care, sun protection along with others, due to rise in consumer awareness towards health and beauty over the years, 2015-16, is the major driving force to position Europe as the largest region in the global nutricosmetics market.
Market Taxonomy
This report segments the global nutricosmetics market on the basis of product types, forms and applications. On the basis of product types, the market is segmented as vitamins, carotenoids, omega-3 fatty acids, and others. On the basis of forms, the global nutricosmetics market is segmented into solid and liquid. On the basis of application, the global nutricosmetics market is segmented into skin care, hair care, oral care, sun protection and others. Moreover, vitamin is the largest product segment, accounting for over 56.6% share of the global nutricosmetics market in 2016, while, omega-3 fatty acids is projected to be the fastest growing product segment and expected to grow at a CAGR of 11.75% in terms of revenue during the forecast period.
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Regional Insights
Europe, followed by North America and Asia Pacific, respectively, accounted for major share in the global nutricosmetics market in terms of revenue in 2016 and the trend is estimated to remain the same over the forecast period. In 2016, North America held a share of 26.12% in terms of revenue, followed by Asia Pacific (24.03%). The growing demand for personal grooming and busy lifestyles in Asia Pacific due to rising consumer awareness coupled with growing retail sector is expected to drive growth of the global nutricosmetics market over the forecast period.
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