Press Release / Business / Global Nutricosmetics Market is Estimated to Reach $13 Billion by 2024

Global Nutricosmetics Market is Estimated to Reach $13 Billion by 2024

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, the 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 for less invasive beauty treatment fuels the demand for the global nutricosmetics market. Moreover, investment in the 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 (skincare, haircare, and others), and pills (skincare, haircare, and others).

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By geography, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in the U.S., Canada, and Mexico whereas the Europe segment consists of the 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, the 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 for 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 the fastest CAGR, owing to, rising acceptance of nutricosmetics among the 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 Limited among others.