Nutricosmetics Global Market Report 2023 - GlobeNewswire

New York, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Nutricosmetics Global Market Report 2023" - https://www.reportlinker.com/p06479916/?utm_source=GNW

The global nutricosmetics market is expected to grow from $6.21 billion in 2022 to $6.84 billion in 2023 at a compound annual growth rate (CAGR) of 10.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The nutricosmetics market is expected to reach $9.62 billion in 2027 at a CAGR of 8.9%.

The nutricosmetics market consists of sales of plant extracts, curcumin, prebiotics, and probiotics.Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Nurticosmetics refers to nutritional supplements that enhance the natural beauty of the skin, nails, and hair. The primary benefit is the anti-aging effect, which is claimed to reduce wrinkles by scavenging free radicals produced by sun radiation.

North America was the largest region in the nutricosmetics market in 2022. The regions covered in nutricosmetics report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of nutricosmetics are capsules, tablets, softgels, drinks, powders, gummies, candies, and others.A capsule is a tiny, soluble gelatine container that holds a dose of medication.

The several types of ingredients involved are carotenoids, vitamins, omega-3 fatty acids, and others. These are sold through various distribution channels, such as supermarkets and hypermarkets, online pharmacies, retail pharmacies, and specialty stores, and are used for several end-uses, including skincare, haircare, nailcare, and others.

Rising consumer awareness regarding skin and hair problems is expected to propel the growth of the nutricosmetics market going forward.Skin problems refer to skin-related diseases and disorders that may result in rashes, inflammation, itching, or other changes to the skin.

Hair problems refer to issues with the hair and scalp, including issues that cause itching and scaling, infections, and hair loss.People are getting more cautious about these issues and taking precautions to address them.

Nutricosmetics are scientifically supported oral nutritional supplements intended to promote skin health and beauty.As a result, increased awareness of skin and hair concerns assists consumers in incorporating nutricosmetics into their daily routine.

For instance, in January 2021, according to an article shared by Automat.ai, a Canada-based business service, software, and computer software company, in the US, sales of skincare products increased by 13% last year, while sales of makeup items increased by 1%. At that time, the growth of online beauty merchants was 24%, with skincare taking the lead. Therefore, rising consumer awareness regarding skin and hair problems is driving the growth of the nutricosmetics market.

Innovative product developments are a key trend gaining popularity in the nutricosmetics market.Major companies operating in the nutricosmetics market are developing innovative products to strengthen their position in the market.

For instance, in January 2023, Neutrogena, a US-based cosmetics, skincare, and hair care producer owned by parent company Johnson & Johnson, launched Nourished x Neutrogena Skin360 SKINSTACKS.This customized skin care supplement uses AI technology to craft customizable 3D-printed gummies to address specific needs.

Customers must visit the SkinStacks website and take three selfies for Neutrogena's 'Skin360' AI technology to assess the smoothness, luminosity, clarity, fine lines, and wrinkles on their skin.It helps to determine one's skin's precise needs by asking about their present skincare regimen and future goals.

The technology subsequently provides a customized blend of nutrients to enhance skin problems and achieve the user's skincare objectives.

In May 2021, Seppic, a Europe-based subsidiary of the Air Liquide group and designer and supplier of specialty chemical products for health and wellbeing, acquired EPI France for an undisclosed amount.This acquisition boosts Seppic's position as a provider of high-quality components for the cosmetics sector as well as its skills and knowledge in botanical extraction.

EPI France is a France-based manufacturer of natural active ingredients for the nutricosmetics and beauty care industries.

The countries covered in the nutricosmetics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The nutricosmetics market research report is one of a series of new reports that provides nutricosmetics market statistics, including nutricosmetics industry global market size, regional shares, competitors with a nutricosmetics market share, detailed nutricosmetics market segments, market trends and opportunities, and any further data you may need to thrive in the nutricosmetics industry. This nutricosmetics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06479916/?utm_source=GNW

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