Nutricosmetics have developed as a part of the trend to gain beauty from inside as opposed to superficial aesthetics correction. Market focused reports related to the food, beverages and nutrition sector among others recently have been made available by Market Research Future which publishes reports on this market.
Cosmetic products have always experienced high demand from users end, though the end user demographics had been more skewed towards the female population. However, even the male users have been included in the user demographics of this category recently. The concept of nutricosmetics has been built upon the foundation of it being an ingestible form of skincare. The market’s demand has naturally evolved from the traditional markets for cosmetics.
Collagen is one of the most popular ingredients of the products of the industry as it has gained significant traction and popularity due to awareness from the consumers end. As the demand for nutricosmetics is restrained to a niche market, a high growth rate and exceptional growth prospects have been forecasted for the industry through the forecast period. Development of diverse and strong distribution channel will further drive the growth of the market by the year 2022.
Competitive Analysis:
The firms in this market are adapting to the state of events by implementing portfolio upgrades and maintaining financial liquidity. The opportunity for development in the industry appears to be promising through the forecast period. The market contenders are devising their blueprints for corporate strategy in a way can bring about the best outcomes for development in the current scenario, while also concurrently enhancing their product’s value. The market value of the industry has been enhanced by the constantly delivery of customer value. The capability to fuel competitive capabilities is one of the chief causes powering their efforts in this period. The escalating levels of diversification in the industry, have allowed the companies to utilize many opportunities available in the industry. Moreover, the contenders are handling the competitive environment by driving the market growth factors to their advantage.
The foremost players that are a part of the nutricosmetics market are Calamansa (Spain), Nutrikosm (Spain), Croda International Plc. (U.K.), Laboratoire PYC (France), PLT Health Solutions (U.S.), Plandai biotechnology (U.K.), NutraQ AS (Norway) and Natreon Inc. (U.S.)
Industry Updates:
Jan 2018 MedColl which is a well-known Nutricosmetics firm based out of Ireland has inked a major multi million euro deal with Ebtikar Arabia to market product in Saudi Arabia. Ebtikar has as a result of the deal gained exclusive rights to sell the product in Saudi Arabia. MedColl is basically a nutraceutical supplement which has been scientifically proven to aid in combating the signs of ageing from right inside to the outside of the body.
Industry Segments:
The market for nutricosmetics has been segmented on the basis of type, ingredient and application. The segmentation on the basis of type comprises of pill, liquid, tablet and others. The ingredient based segmentation of the market comprises of fatty acids, vitamins, carotenoids and others. On basis of application, market is segmented into hair care, skin care, digestive health, heart health, weight management and others.
The nutricosmetics market globally has been segmented into Asia Pacific, North America, Europe, and Rest of the World (RoW). Among these regions, the Asia Pacific region has the main market share followed by the European region. In the North American region, the demand for liquid forms is growing faster than compared to other tablets. In the Middle East region, there are fewer nutricosmetics products present in the market and customers are using collagen powder and supplements for anti-aging health related benefits.
