Published: Nov, 2016
Laboratories Inneov SNC occupied the most significant share in the market for nutricosmetics. This company is a developed research of Loreal and Nestle and is a joint venture of both these companies. The company, named Croda International Plc currently occupies the second position in the market, taking 10 % of the entire share in the market as per Transparency Market Research (TMR).
The global nutricosmetics market is predicted to touch US$7.16 bn by 2020, expanding at a healthy 11.40% CAGR between 2014 and 2020. On the basis of product type, the segment of liquid nutricosmetics led the market in the past and is poised to take up a share of 54.91% by 2020. This segment is fuelled owing to numerous advantages associated with it. These include natural hydration advantages provided to the skin. The key liquid nutricosmetics available in the market are vegetable juices and fortified water fruit. On the other hand, the demand for nutricosmetics products in pill form is low in comparison to liquid nutricosmetics products.
Increasing Demand for Anti-Aging Products to Boost Nutricosmetics Market in Asia Pacific
In terms of application, the report categorizes the market into hair care, skin care, and others such as nail care. Of these, the segment of skin care is predicted to rise at a healthy CAGR of 11.70% between 2014 and 2020. On the other hand, the segment of hair care is expected to touch US$ 0.53 bn in 2020. Geographically, the region of Asia Pacific led the market in 2013 and represented a share of 50.22% globally. This is due to the rising demand for anti-aging products and the growing awareness about health amongst individuals residing in this region. On the other hand, Europe accounted for the second position in the market owing to the growing awareness about nutricosmetics products in this region.
Increasing Awareness about Natural Products to Bolster Market Growth
The global nutricosmetics market is predicted to rise owing to the increasing awareness about natural products globally. Due to the fact that chemical components are a part of synthetic products, thus consumers have shifted their focus toward natural products. The fact that a number of cutting-edge nutricosmetics products are being launched will also fuel the demand for nutricosmetics globally. In addition, the expanding customer base globally will also provide huge opportunities in the market for nutricosmetics. This is especially true in case of popularity of such products amongst the aging population. “The shift toward healthier lifestyle and the increasing concern about beauty and personal health will also work in favor of the development of this market,” says a TMR analyst.
On the other hand, the absence of awareness amongst customers regarding different product types present in the market may impede the growth of the market. In addition, the fact that consumers tend to buy products that exhibit immediate and effective results may become a roadblock in the growth of the market. This is due to the fact that nutricosmetics products take time to show results and aren’t immediate. This makes customers a bit apprehensive about the results of nutricosmetics products, states a TMR analyst.
Nonetheless, a number of countries globally are predicted to come up as lucrative markets for the development of nutricosmetics products. This is a primary factor providing new opportunities in the growth of the market for nutricosmetics.
This information is based on the findings of a report published by Transparency Market Research titled, “Nutricosmetics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020.”
The global nutricosmetics market has been segmented into:
Global Nutricosmetics Market: By Type
- Skin Care
- Hair Care
- Skin Care
- Hair Care
Global Nutricosmetics Market: By Geography
- North America
- Asia Pacific
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