Global Nutricosmetics Market to Grow at 8% CAGR from 2021-2026

Strategic Insights -

The global nutricosmetics market has exhibited moderate growth from 2015-2020, with an anticipated growth rate of around 8% from 2021-2026. The market is being driven by the growing emphasis on maintaining physical appearance and the rising demand for natural beauty products. Nutricosmetics, which are nutritional supplements formulated using vitamins, minerals, and other nutrients, are gaining traction worldwide as they complement topical skincare products to enhance the overall physical appearance.

Key Takeaways:

  • The global nutricosmetics market is expected to grow at a CAGR of around 8% from 2021-2026.
  • The market is driven by the growing emphasis on maintaining physical appearance and the rising demand for natural beauty products.
  • Nutricosmetics are nutritional supplements formulated using vitamins, minerals, amino acids, botanical extracts, and antioxidants.
  • The market is being driven by the increasing working population and busy lifestyles of individuals, leading to the adoption of convenient-sized product variants.
  • The spread of the COVID-19 pandemic and lockdowns imposed by governments have escalated the demand for wellbeing and personal care products, including nutricosmetics, through e-commerce channels worldwide.
  • Key players in the market include Amway, BASF SE, Bayer AG, Beiersdorf (Maxingvest AG), Blackmores Ltd., Herbalife Nutrition Ltd., Otsuka Holdings Co. Ltd., Pfizer Inc., Reckitt Benckiser, Suntory Holdings Limited (Kotobuki Realty Co. Ltd.), and Unilever.
  • The market is expected to be driven by the growing demand for anti-aging products to maintain youthful skin, as well as the increasing utilization of nutricosmetics to nourish the structure of the skin from within.

Statistics:

  • The global nutricosmetics market is expected to grow at a CAGR of around 8% from 2021-2026.
  • The market is driven by the growing emphasis on maintaining physical appearance, with the global beauty and personal care market expected to reach $892 billion by 2025 (Source: Statista).
  • The rise of e-commerce channels has accelerated the demand for nutricosmetics, with online sales accounting for 14.1% of the global beauty and personal care market in 2020 (Source: Grand View Research).
  • The global skincare market is expected to reach $134.2 billion by 2025, with the nutricosmetics segment expected to account for a significant share (Source: MarketsandMarkets).
  • The market is driven by the increasing working population and busy lifestyles of individuals, with the global working population expected to reach 3.5 billion by 2025 (Source: World Bank).

Sources:

  • "Nutricosmetics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report by ResearchAndMarkets.com
  • Statista: "Global beauty and personal care market size 2020-2025"
  • Grand View Research: "Beauty and Personal Care Market Size, Share & Trends Analysis Report"
  • MarketsandMarkets: "Skincare Market by Type, Distribution Channel, and Region - Global Forecast to 2025"
  • World Bank: "Working population, total (% of total population)"