The Nutricosmetics Ingredients Market is estimated to hit $ 1.647 billion by 2023
By Type (Collagen, Vitamins, Carotenoids Others); By Product Type (Dietary Supplements and Functional food & Beverage); By End-use (Skin health, Hair health, Nail health and others) and By Geography-Forecast (2018-2023)”, the market is mainly driven by the introduction of variety of nutricosmetics products.
Nutricosmetic Ingredients Market (2015 - 2023)”
Asia-Pacific continues to lead the market share during 2018-2023.
APAC is the biggest market for nutricosmetic ingredients. It had a market value of $416.3 million in 2017 and is projected to grow at a CAGR of 10.1% through 2018-2023, to reach $740.18 million by 2023. APAC is followed by Europe and North America. North America will grow the fastest with a CAGR of 13.6% through 2015-2020 and will amount to $220.9 million by 2020. This is due to the growing demand for nutricosmetic products such as nutricosmetic ingredients laced dietary supplements and functional foods in the U.S. and Canada.
Selected / Sample Analysis done in the full Report:
High Market Growth Potential for Male Nutricosmetics Segment:
Male nutricosmetic products are a major opportunity for nutricosmetic end use product and ingredient manufacturers. Very few companies such as Imedeen (Sweden) and Gold Collagen (U.K.) are launching nutricosmetic product catering to male customers. The male consumers these days are equally conscious or concerned about their skin and are actively opting for cosmetic and skincare products. The male consumers should be educated on the purported benefits of nutricosmetics products to entice nutricosmetic purchases.
The overall men grooming market is poised to witness high growth, with the male nutricosmetics products as an emerging market is bound to see product launches, exclusively catering to men. The nutricosmetics manufacturers have abundant opportunities to grow in the market by strategic product positioning and effective marketing campaigns.
Novel Multipurpose Formulations in Nutricosmetic Functional Foods & Beverages an Opportunity:
In the APAC region such as Japan and the European countries such as France, Germany and others, the customers are looking forward to products that can offer multifaceted benefits. Consumers in these regions are demanding one-stop solution for all nutritional needs to overcome skin and hair ailments from functional foods and dietary supplements. This is making the ingredient manufactures collaborate with pharmaceutical companies to develop advanced multi-ingredient formulations which would help them to offer better products to the customers. Such nutricosmetic ingredient fortified functional products are a major opportunity for ingredient manufacturers. The various active ingredients also impart multifaceted benefits. Collagen ingredient accelerates the skin cell repair, enhances the state of hair follicles and scalp, boosts hair growth and reduces hair thinning. The Biotin ingredient used for hair nutricosmetics also strengthens the nails and endows it with a healthy reddish shade. Manufacturers are investing significantly in the R&D, and are trying to come up with new products that could provide a one-stop solution to the consumers. This is bound to provide multiple opportunities for the manufacturers, resulting in new products with multi-faceted benefits.
Excerpts on Market Growth Factors Mentioned in the Full Report:
- Rising awareness for preventive care and nutritional supplements to combat skin aging, hair thinning and nail breakage will drive the market for nutricosmetics products which will drive the market for nutricosmetics ingredients.
- The use of skin nutricosmetics products is increasing in the U.S. and countries in APAC, which will drive the market for skin health nutricosmetics ingredients in the coming years.
- Weight management and sliming nutricosmetic products are witnessing rising popularity in North America and European countries such as the U.K., Italy and others, as consumers plan to lose weight or manage their weight by consuming dietary supplements. Such favoring consumer behavior towards weight management is driving the ingredient use in weight management and sliming nutricosmetic products.
- The rising consumer awareness about diet deficiency impacting beauty and replenishing the body with dietary supplements will drive the market for nutricosmetics products.
- The rising awareness about naturally derived active ingredients and their antioxidant benefits on skin and hair will drive the market for nutricosmetics dietary supplements.
Key Players of the Nutricosmetics Ingredients Market:
BASF SE, Gelita AG, Croda, DSM and Kyowa Hakko Kirin are the leading companies in the nutricosmetics ingredients market accounting for close to 40% market share. Gelita AG, a collagen peptide manufacturing company, has pharmaceutical and health division sales. Kyowa Hakko Kirin’s bio chemical division manufactures ingredients which cater to nutricosmetics ingredients manufacturers. The companies are fundamentally considering acquisitions and product launches as chief strategies to expand their market presence.
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