Nutricosmetic Ingredients market size is forecast to reach $8.2 billion by 2026, growing at a CAGR of 7.9% during the forecast period 2021-2026. Nutricosmetic ingredients are natural ingredients that are used to provide beauty and comprises of the essential nutrients and antioxidants. It have preventive effects on the nails, skin, and weight management. Nutricosmetic ingredients are used in collagen, antioxidants, flavones, and plant based ceramides. The nutricosmetics are consumed orally as well as in liquid forms. They act as an anti-oxidants by controlling and cancelling the effects. It also provide anti-inflammatory protection to the skin against the harmful ultraviolet radiation. Increasing cosmetic assistance and increasing regulatory norms are the major factors driving the growth of the market. Increasing usage of nutricosmetic as a dietary supplement and increasing demand for collgen for skin protection is set to further enhance the overall market development of the Nutricosmetic Ingredients Market for the period 2021-2026.
Nutricosmetic Ingredients Market Segment Analysis – By Product
Collagen held the largest share in the Nutricosmetic Ingredients Market in 2020 and is estimated to grow at a CAGR 8.5% during the forecast period 2021-2026. This is owing to the increasing demand for the collagen products as a nutricosmetic. Gelatin is used in improving consistency, elasticity, and stability. Gut hormones in obese people can also be normalized using gelatin. It is used for skin protection, skin whitening, and anti ageing among others. It provides a good product to the consumers as it is used to improve skin health and weight management. Increasing number of individuals opting for hair health is increasing the growth of the market. Collagen are estimated to register the higher CAGR over the period 2021-2026.
Nutricosmetic Ingredients Market Segment Analysis – By Application
Dietary Supplements held the largest share in the Nutricosmetic Ingredients Market in 2020 and is estimated to grow at a CAGR 8.7% during the forecast period 2021-2026. This is owing to the increasing awareness regarding the consuming pills for nutricosmetics, and increasing incidences of skin diseases. Increasing awareness regarding the reduction of calorie intake is also increasing the growth of the segment. Skin health segment is increasing owing to the inflammatory properties of the nutricosmetics for treating various skin diseases. Nutriosmetics is used for weight management. It absorbs tissue secretions. Increasing usage of nutricosmetics in plastic surgeries is also increasing the growth of this segment. Dietary Supplements are estimated to register the higher CAGR over the period 2021-2026.
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Nutricosmetic Ingredients Market Segment Analysis – By Geography
North America dominated the Nutricosmetic Ingredients Market with a major share of 29% in 2020. This is attributed to the increasing research & development, and increasing penetration of improved medications. Increasing consumption of dietary supplements, increasing health benefits of nutricosmetics, increasing healthcare expenditure, and improving healthcare infrastructure is increasing the growth of the market in this region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the increasing healthcare awareness, and rising awareness regarding nutricosmetics. Increasing production technologies, increasing incidences of the skin diseases, increasing demands for functional food & beverages along with the increasing healthcare expenditure is increasing the growth of the market in this region.
Nutricosmetic Ingredients Market Drivers
Increasing Demand for Collagen
Increasing demand for collegen is increasing the growth of the Nutricosmetic Ingredients Market. Gelatin is used as a gelling agent that offers various properties for skin protection, anti-ageing, and skin whitening among others. Collagen is used for manufacturing wound covers to treat severe burns. Increasing treatments that involves human surgeries and skin donation sites. Collagen also serves as a major part of the endomysium. Thus, increasing the growth of the Nutricosmetic Ingredients Market during the forecast period 2021-2026.
Increasing Cosmetic Surgeries
Increasing cosmetic surgeries is increasing the growth of the Nutricosmetic Ingredients Market. This is attributed to the fact that nutricosmetics is used in anti-ageing treatment and also for cosmetic surgeries. Increasing incidences of cosmetic surgeries such as anti-ageing creams also increases the growth of the market. Injectable fillers s a cosmetic plastic surgery procedure that is used to treat depressions as well as wrinkles in the skin. It is injected into the skin to fill up the area that is getting treated up. Thus, increasing the growth of the Nutricosmetic Ingredients Market during the forecast period 2021-2026.
Nutricosmetic Ingredients Market Challenges
Higher Price of the Nutricosmetic Products and Increasing Competition
Some of the factors that are set to impede the growth of the Nutricosmetic Ingredients Market are higher price of the nutricosmetic products and increasing competition. Lack of awareness among consumers regarding the benefits of the nutricosmetics and increasing concerns associated with the longer duration is set to increase the growth of the market during the forecast period 2021-2026.
Nutricosmetic Ingredients Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Nutricosmetic Ingredients Market. In 2020, the Nutricosmetic Ingredients Market share is consolidated by the top ten players present in the market. The Nutricosmetic Ingredients Market 10 companies are BASF SE, Gelita AG, Croda International Plc., DSM N.V. , and Kyowa Hakko among others.
Key Takeaways
North America dominated the Nutricosmetic Ingredients Market in 2020 owing to the increasing health awareness and increasing adoption rate of dietary supplements. The Nutricosmetic Ingredients Market scope for different regions will be provided in the final report.
Increasing investment in research & development activities for producing vitamins based products and increasing usage of dietary supplements are likely to aid the market growth of the Nutricosmetic Ingredients Market report.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Nutricosmetic Ingredients Market report.
Higher price of the nutricosmetic products and increasing competition is poised to create the hurdles for the Nutricosmetic Ingredients Market.
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