According to FutureWise analysis the market for nutracosmetic in 2023 is US$ 4.19 billion, and is expected to reach US$ 7.71 billion by 2031 at a CAGR of 7.90%.
A combination of nutrition and personal care products aimed at promoting protection and renewal has given rise to nutracosmetics. The use of nutricosmetics can help treat skin problems, hair problems, nails problems, and weight problems. Hair growth products are designed to stimulate hair growth, prevent hair thinning, and increase hair volume. It is now possible to buy nutraceuticals for nails that strengthen them and prevent them from breaking. It is possible to consume these items in both supplement and liquid forms. There are a number of ingredients in nutracosmetics, including omega-3 fatty acids, probiotics, lutein, and vitamins (A, B6, and E). The use of nutritional cosmetics has become an essential part of people's daily lives. Further, the rise in consciousness about both internal and exterior attractiveness is one of the major factors influencing the use of nutracosmetics on the international market. Men are now increasingly incorporating nutracosmetics into their daily routines, resulting in a market expansion. As a result, changing lifestyles are responsible for the market's expansion. Additionally, women use nutracosmetics products extensively because they want to flaunt healthy, radiant skin, which boosts market growth. In addition, demand for herbal and natural skin nutricosmetic products is expected to rise significantly over the forecast period.
In the medium term, the nutricosmetics market will likely be driven by increasing consumer awareness of the problems associated with various nutrient deficiencies, including anti-aging, wrinkles, hair loss, and scalp problems, leading to a paradigm shift toward preventive health management practices as healthcare costs rise and lifestyle diseases increase. As a result, such factors are boosting the consumption of nutricosmetics worldwide. A significant market share is generated by products containing vitamins and Omega-3, especially for skincare. Furthermore, the beauty-from-within approach is gaining popularity among millennials, since it combines beauty and health. Despite this, there is no clear distinction between nutraceutical-based products, with variations across countries. The market's growth is hampered by regulatory, legislative, and technological complexity. Nutricosmetics are also considered a key driver of the global nutricosmetics market due to their popularity among the aging population. As the population ages, health and wellness awareness is also increasing, driving the demand for nutricosmetics today.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Nutracosmetic Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Nutracosmetic Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.