Nutricosmetics Market Analysis

Nutricosmetics Market Analysis

Based on product type, the nutricosmetics industry is bifurcated into gummies and soft chews, powder and liquid, and tablets and capsules. Of these, the tablets, and capsules segment registered revenue of around USD 2.72 billion in 2021.

Consumers are increasingly relying on tablets, given their cost-effectiveness and high content of active ingredients, among other benefits, such as shelf-stability and ability to retain its potency for a longer period. Meanwhile, the ability of capsules to offer faster relief to symptoms, along with their higher bioavailability, will escalate the consumption of nutricosmetics in tablet and capsule forms.
 

 

In terms of the ingredient, the industry is divided into vitamins, carotenoids, omega-3 fatty acids, and others. Growing health concerns have led to increased adoption of carotenoids in dietary supplements, contributing to the overall nutricosmetics demand.
 

The nutricosmetics market from the carotenoids segment is set to exhibit an 8.6% CAGR through 2030. The segmental expansion is driven by the extensive usage of carotenoids in cosmetics, foods, and pharmaceuticals. This ingredient also delivers exceptional health benefits due to substantial concentrations of lutein, beta-carotene, lycopene, astaxanthin, annatto, zeaxanthin, and canthaxanthin, which could strengthen the global market outlook.
 

With regards to the application spectrum, the market is segmented into weight management, nail care, skincare, hair care, and others. Increasing usage of hard water for hair washing and the subsequent rise in hair-related issues will bolster the nutraceuticals market size from the hair care application segment, which is set to record revenue of over USD 3.19 billion by 2030.
 

Rising cases of hair-related issues are caused by several factors, such as air pollution, extreme climatic conditions, and the usage of hard water. To reduce hair damage, consumers are increasingly opting for nutricosmetic supplements, including biotin, for hair care applications.

 

Based on the distribution channel, the industry is categorized into supermarkets/hypermarkets, online pharmacies, specialty stores, retail pharmacies, and others. Among these, the nutricosmetics market size from the specialty store segment is expected to depict a CAGR of over 7.3% from 2022 to 2030.
 

Specialty stores are also emerging as a prominent market segment, given their ability to cater to niche markets and focus on curating specialized ranges of high-quality products. In addition to improving knowledge about specific product categories among staff, such factors will proliferate nutricosmetics industry demand from specialty stores.
 

 

Regionally, the Europe nutricosmetics market is poised to depict a CAGR of over 7.9% through 2030. Driven by the growing elderly population and the robust demand for anti-aging products, the industry will witness commendable growth across Spain, the UK, Germany, Italy, France, and other European nations. The regional market development will also be accelerated by the robust consumer demand and the introduction of favorable regulations.