Market Research Future has published a cooked research report on the Global Nutricosmetics Market, 2020–2028. The global gardening tools market is projected to exhibit a CAGR of 6.45% during the forecast period of 2021 to 2028.
Market Research Future has recognized the following companies as the key players in the global Nutricosmetics Market: Laboratoire Dermatologique ACM (France), Forza Industries Ltd (UK), Vitabiotics Ltd (UK), D-LAB Nutricosmetics (UK), Skinade (England), Amway (UK), Natrol, LLC (US), De SOS Hair Care (UK), WR Group (US), Pfizer, Inc. (US), Herbalife International of America, Inc. (US), Cantabria Labs (Spain), Blackmores (Australia), GNC Holdings, Llc (US), Kora Organics (Australia), and Fit & Glow Health Care Pvt Ltd. (India).
The global nutricosmetics market is projected to be valued at USD 6,530.98 million by 2028, recording a CAGR of 6.45% during the forecast period. The rising trend of healthy aging, especially among women, is a major factor for the growth of the global nutricosmetics market. Additionally, various food & beverage manufacturers are entering the beauty industry, which is driving market growth. However, consumer ambiguity regarding the efficacy of nutricosmetics is hampering the growth of the market. The global nutricosmetics market is expected to be lucrative for the vendors active in developed and developing economies due to the rising number of products targeted at men and increasing consumer awareness regarding the correlation between nutrition and beauty.
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The global nutricosmetics market has been segmented based on product type, end use, distribution channel, and region.
Based on product type the global nutricosmetics market has been segmented into capsules,tablets,& soft gels, drinks, powders, gummies & candies and others. The drinks segment accounted for the largest market share of 32.25% in 2020 and is also projected to register the highest CAGR of 6.59% during the forecast period. The fast-paced and hectic lifestyles of consumers have surged the demand for convenience foods & beverages. Technological strides have resulted in product innovations, which have further increased the demand for beauty drinks with various functional properties. The demand for nutritious, grab-and-go supplements is high among consumers, which has fueled the growth of the functional beauty drinks market. The absorption of nutricosmetics into the cells is faster in the liquid form than in the powdered form and thus has been identified to have a faster impact on the human body. The demand for nutritional nutricosmetic beverages is increasing, which, in turn, is driving the growth of the nutricosmetics drinks market.
Based on end use, the global nutricosmetics market has been segmented into skincare, haircare,nailcare and others. he skincare segment accounted for the largest market share of 61.63% in 2020. The use of various nutricosmetics in skincare is increasing. The concept of ‘beauty from within’ has gained popularity among consumers. Several nutricosmetics, such as collagen capsules, hyaluronic acid liquids, and vitamin and mineral mixtures containing botanical extracts, are available in the market for different skin issues. These nutricosmetics are primarily used for skin problems such as skin hydration, elasticity, acne, and aging.
Based on distribution channel, the global nutricosmetics market has been segmented into direct and indirect. The indirect segment accounted for a larger market share of 78.89% in 2020. Indirect selling is a concept of selling products through a platform where other nutricosmetic manufacturers come together to sell their products to a curated consumer base. Indirect or 3rd party retailers try to bring together the right vendors and the right consumers to drive sales through an exceptional multi-vendor platform where these retailers earn a commission from each sale from the brands. Indirect selling can happen through either brick-and-mortar store such as convenience stores, supermarkets, and hypermarkets as well as e-commerce retailers such as Amazon and Walmart. Various product manufacturers consider a 3rd party retailer as a focused brand management partner.
On the basis of region, the global gardening tools market has been categorized as North America, Europe, Asia-Pacific, Latin America, and the Rest of the World. As per MRFR analysis, Asia-Pacific accounted for the largest market share of 44.78% in 2020; the regional market is expected to register a CAGR of 6.40% during the forecast period. Japan, China, and India are the major country-level markets in the region due to the widespread acceptance of nutricosmetics in these countries. Japan is the leading market for nutricosmetics globally with market players emphasizing innovation to develop new types and forms of nutricosmetics. The popularity of the ‘beauty from within’ trend, wide availability of products, presence of specialty stores dedicated to nutricosmetics are driving market growth in the country. The focus on anti-aging products among the elderly population in the region is the major driving factor for the growth of the nutricosmetics market in Europe. These products aim at addressing signs of aging, skin care, and hair care. The market is mainly concentrated in Germany, the UK, France, and Italy. However, the market is fragmented with the presence of several players such as Amway, Herbalife International of America, Inc., and Pfizer Limited. These players are focused on increasing their customer base in the region and, thus, invest in product development and launches. The rising demand for natural products has also impacted market growth. Europe accounted for 29.35% of the global market share in 2020 and the regional market is projected to exhibit a CAGR of 6.49% during the forecast period.
Key Findings of the Study: