The Nutricosmetics Market is changing the scenario of the beauty industry and taking it forward by providing the consumers with edible solutions to beauty. The Nutricosmetics industry is growing fast due to the changing needs and demands of the consumers owing to its availability in various sizes and categories. The major ingredients of nutricosmetics include vitamins (A, B6 and E), sterol esters, co-enzyme Q10, omega-3 fatty acids, lycopene, soy proteins, beta-carotene probiotics, chondroitin, and lutein. These ingredients act as anti-oxidants and functions by controlling and canceling the effects of free radicals and also provide anti-inflammatory protection to the skin against ultraviolet radiations. The consumption of nutricosmetics being fueled by increased awareness of health and beauty.
Moreover, surging demand for natural products for enhancing the beauty and health having lesser side effects and increasing the cost of healthcare is driving sales of nutricosmetics. These are available in the form of functional foods, beverages, and beauty supplements. In addition, the emerging global economy is driving and inviting technology adaption with the advancement in Nutricosmetics Market. However, it is expected that the majority of the big Nutricosmetics providers will widen their product portfolio and enhance the network of their partners globally over the forecast period. Furthermore, the market is driven by factors such as the introduction of innovative products exhibiting higher efficiency backed by the implementation of regulatory norms such as the Food for Specific Health Issues (FOSHU.
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Personal Care Segment of Nutricosmetic Market Is Projected To Be the Leading User of the Overall Market during the Forecast Period
The Personal Care segment is expected to hold the largest market share among the application segments throughout the forecast period owing to the rise in the aging population. Rising consumer awareness regarding grooming and skin health coupled with a busy lifestyle is having a great impact on the growing personal care nutricosmetics segment. Due to its benefits, these products are used for the controlling signs of aging, skin brightening, sun protection, increasing skin firmness, and cellulite reduction. Moreover, as consumers grow increasingly aware of the health hazards of chemically laden products, consumers are shifting their gaze to the growing number of nutricosmetics boasting organic ingredients, thereby further driving the sales volume in the personal care segment.
Europe Region holds the largest market share in Global Nutricosmetics Market during The Anticipated Period
The Western Europe region rapidly growing, driven by continued product development and the approval of several beauty-related ingredient claims from the European Food Safety Authority (EFSA). Moreover, Asia-Pacific held a significant market share which is expected to witness robust growth during the forecast period owing to the growth in the retail sector, increasing health awareness, high demand for beauty products among millennial, and a large aging population.
However, the market is well established in countries like Japan and China. Japan holds the largest market share in the Asia Pacific region due to the regulatory system in Japan, the FOSHU legislation which is the most favorable for the development of nutricosmetics market. On the other hand, the North American is largely an untapped region for nutricosmetics owing to the lack of awareness, and regulatory challenges and advertising restrictions on ingredients and products which stands as an obstacle to the growth of the market in the region. However, with the growing incidence of scientifically proven efficiencies, the market in the region is expected to improve in the coming years.
Global Nutricosmetic Market: Competitive Landscape
Key players operating in Nutricosmetics market includes Ferrosan A/S, Functionalab Inc, Laboratoire Oenobiol S.A.S., Laboratoires Inneov SNC., Some of the other competitors in the global nutricosmetics market are Beiersdorf Ag, BASF SE, Borba, Inc., Frutels LLC, Frutarom Industries Ltd., ISOCELL SA, GlaxoSmithKline Pharmaceuticals Limited, ExcelVite, Denomega Nutritional Oils AS, Groupe Danone SA, IMCD Group BV, Lonza Group Ltd., Perricone M.D., Nutrilo GmbH, Quest Vitamins, Martek Biosciences Corporation and LycoRed. Major Key Players are focused on organic and inorganic strategies such as merger & acquisition and new product launches to enhance their business and product.
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of Global Nutricosmetics Market size & forecast. The report promises to provide state-of-the-art technology of Nutricosmetic production and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
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