Nutricosmetics Market Insights: Skincare Segment to Dominate by 2031

According to the latest publication from Meticulous Research®, the global nutricosmetics market is expected to reach $12.61 billion by 2031, growing at a CAGR of 7.2% from 2024 to 2031. Several factors contribute to this growth, including increasing awareness about nutritional deficiencies, a rising consumer preference for natural health and beauty products, an expanding cosmetics industry, and a growing geriatric population. However, market saturation and stringent regulations are anticipated to hinder growth to some extent.

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Stakeholders in the nutricosmetics market play a crucial role in addressing the challenge of low consumer awareness regarding the benefits of nutricosmetics. With the increasing demand for innovative beverages and the expanding functional food industry, market players are focusing on educating consumers about the importance of nutricosmetics. This educational effort is vital in driving market growth and enhancing consumer understanding of how nutricosmetics can contribute to health and beauty.

A significant trend in the nutricosmetics market is the growing awareness of health and wellness, which is shaping market dynamics and influencing consumer preferences. This trend underscores the importance of nutricosmetics as consumers seek products that offer both health and beauty benefits. The market is characterized by a moderately competitive landscape due to the presence of many large and small-sized global, regional, and local players.

Key players in the global nutricosmetics market include Amway Corporation (U.S.), Shiseido Company, Limited (Japan), Koninklijke DSM N.V. (Netherlands), Nestlé S.A. (Switzerland), Suntory Beverage & Food Ltd. (Japan), LycoRed Ltd. (Israel), Lonza Group Ltd. (Switzerland), BASF SE (Germany), Herbalife Nutrition Ltd. (U.S.), Beiersdorf AG (Germany), Otsuka Holdings Co. Ltd. (Japan), and Sappe Public Company Limited (Thailand). These companies are at the forefront of innovation and are instrumental in driving market growth through new product developments and strategic initiatives.

The global nutricosmetics market is segmented by product type, form, distribution channel, and geography. Product types include skincare, hair care, nail care, and other categories. In 2024, the skincare segment is expected to account for the largest share of 46.7% of the nutricosmetics market. This dominance is attributed to the growing geriatric population, rising awareness about skin nourishment, and increasing skin issues such as acne, wrinkles, and tanning. However, the hair care segment is projected to register the highest CAGR during the forecast period.

In terms of form, the nutricosmetics market includes powder form, liquid form, tablets, capsules & soft gels, gummies & soft chews, and other forms. In 2024, the powder form segment is expected to account for the largest market share. However, the tablets segment is anticipated to register the highest CAGR during the forecast period due to its extended shelf life and portability, which allows for precise dosing because of the standardized format.

The distribution channels for nutricosmetics include supermarkets & hypermarkets, pharmacies & drug stores, specialty stores, e-commerce, and other channels. In 2024, the supermarkets & hypermarkets segment is expected to account for the largest share of 39% of the nutricosmetics market. This segment's large market share is attributed to the growing number of supermarket & hypermarket groceries offering high-quality products, rapid urbanization, rising per capita disposable incomes, increased sales of functional food & beverages in well-established supermarkets and hypermarkets, and consumer preference for shopping offline due to the enhanced shopping experience offered by these channels.

Geographically, the nutricosmetics market is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of 43.9% of the nutricosmetics market, followed by North America. The Asia-Pacific market is estimated to be worth $3.40 billion in 2024. This region's large market share is attributed to increased penetration of improved medications, high consumption of dietary supplements, increased demands for functional food & beverages, and high awareness about nutricosmetics in countries like Japan and China.

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Jane Doe is a seasoned content writer and market analyst specializing in insightful blogs and projections, blending creativity with data-driven strategies.