Global Nutricosmetics Market is Estimated to Reach $13 Billion by 2024, Says Accurize Market Research
Global nutricosmetics market report published by Accurize Market Research forecast that the global market is expected to reach $13 billion by 2024; growing at a CAGR of 12.5% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Growing awareness towards health & beauty and aging population drives the market globally
Growing awareness towards health & beauty, positive effects of ingredients (green tea, barks, and roots), aging population, and rising demand of less invasive beauty treatmentsfuels the demand for the global nutricosmetics market. Moreover, investment in development of improved product also boosts the growth of the market.
Market Segmentation
The global nutricosmetics market has been bifurcated on the basis of type and geography. The type segment is sub-segmented as, liquid (skin care, hair care, and others), and pills (skin care, hair care, and others).
By geography, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, France, Italy, and others. Asia-Pacific is segmented into India, China, Japan, South Korea, and others, while RoW is bifurcated into South America, Middle East, and Africa.
“Liquid accounted for the largest market share in the type segment", says Accurize
By type segment, liquid accounted for the leading market share in 2017, and is estimated to continue its dominance during the forecast period 2017-2025.
“Asia-Pacific dominated the global market with the highest market share over the forecast period", says Accurize
In 2017, Asia-Pacific accounted the largest market share of 49.6% in 2017, driven by rapid market penetration of these products, growing awareness and product innovations. Asia-Pacific was closely followed by Europe with 37.6% of the global share. In terms of growth, RoW is anticipated to attain fastest CAGR, owing to, rising acceptance of nutricosmetics among younger generation, extensive use of cosmetics, and increasing disposable income.
Top players in the market
The key market players include L’Oréal SA, Nutrilo GmbH, HusumerMineralbrunnen GmbH & Co. KG, Ferrosan A/S, Cargill Incorporated, GlaxoSmithKline Pharmaceuticals Limited, E.I. Du Pont Nemours and Company, LycoRed Limited, Martek Biosciences Corporation, and C.C. Natural Products Tech Limitedamong others.
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