The growing use of nutricosmetics as a dietary supplement and the growing demand for collagen for skin protection are expected to further enhance the overall development of the nutricosmetic ingredients market.
Nutricosmetic Ingredients Market The size is expected to reach $ 8.2 billion by 2026, increasing at a CAGR of 7.9% during the forecast period 2021-2026. Nutricosmetic ingredients are natural ingredients that are used to provide beauty and include essential nutrients and antioxidants. It has preventative effects on nails, skin, and weight management. Nutricosmetic ingredients are used in plant-based collagen, antioxidants, flavones, and ceramides. Nutricosmetics are consumed orally as well as in liquid form. They act as anti-oxidants by controlling and reversing the effects. It also provides anti-inflammatory protection to the skin from harmful ultraviolet rays. The increase in cosmetic assistance and the increase in regulatory standards are the main growth factors of the market. The growing use of nutricosmetics as a dietary supplement and the growing demand for collagen for skin protection are expected to further enhance the overall development of the nutricosmetics ingredients market for the period 2021-2026.
Nutricosmetics Ingredients Market Segment Analysis – By Product
Collagen held the largest share of the nutricosmetics ingredients market in 2020 and is expected to grow at a CAGR of 8.5% during the forecast period 2021-2026. This is due to the increasing demand for collagen products as a nutricosmetics. Gelatin is used to improve consistency, elasticity and stability. Gut hormones in obese people can also be normalized with the help of gelatin. It is used for skin protection, skin whitening and anti-aging, among others. It provides a good product to consumers because it is used for improving skin health and weight management. The increasing number of people opting for healthy hair is increasing the growth of the market. Collagen is estimated to register the highest CAGR during the period 2021-2026.
Nutricosmetics Ingredients Market Segment Analysis – By Application
Dietary supplements held the largest share of the nutricosmetics ingredients market in 2020 and are expected to grow at a CAGR of 8.7% during the forecast period 2021-2026. This is due to the growing awareness of the consumption of pills for nutricosmetics and the increasing incidence of skin diseases. The growing awareness regarding reducing calorie intake is also increasing the growth of the segment. The skin health segment is increasing due to the inflammatory properties of nutricosmetics for the treatment of various skin diseases. Nutriosmetics is used for weight management. It absorbs tissue secretions. The increasing use of nutricosmetics in plastic surgeries is also increasing the growth of this segment. Dietary supplements are estimated to register the highest CAGR during the period 2021-2026.
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Nutricosmetics 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 increasing research and development and increasing penetration of improved drugs. The increase in the consumption of dietary supplements, the increase in the health benefits of nutricosmetics, the increase in healthcare expenditure, and the improvement of the healthcare infrastructure are increasing the market growth in this region.
However, Asia-Pacific is expected to grow at a higher CAGR during the forecast period 2021-2026 due to growing awareness in healthcare and growing awareness of nutricosmetics. Increasing production technologies, increasing incidence of skin diseases, increasing demand for functional foods and beverages as well as increasing healthcare expenditure are increasing the market growth in this region.
Market drivers of nutricosmetic ingredients
Growing demand for collagen
The increasing demand for collegen increases the growth of the nutricosmetic ingredients market. Gelatin is used as a gelling agent which offers various properties for skin protection, anti-aging and skin whitening, among others. Collagen is used in the manufacture of dressings to treat severe burns. Increase treatments that involve human surgeries and skin donation sites. Collagen also plays a major role in the endomysium. Thus, increasing the growth of the Nutricosmetics Ingredients Market over the forecast period 2021-2026.
Increase in cosmetic surgeries
The increase in cosmetic surgeries is increasing the growth of the nutricosmetic ingredients market. This is attributed to the fact that nutricosmetics are used in antiaging treatments and also for cosmetic surgeries. The increasing incidence of cosmetic surgeries such as anti aging creams is also increasing the growth of the market. Injectable fillers are a cosmetic plastic surgery procedure used to treat depressions as well as wrinkles in the skin. It is injected into the skin to fill the area to be treated. Thus, increasing the growth of the Nutricosmetics Ingredients Market over the forecast period 2021-2026.
Challenges of the nutricosmetic ingredients market
Higher price of nutricosmetics and increasing competition
Some of the factors that are expected to hamper the growth of the nutricosmetics ingredients market are the higher price of nutricosmetics products and the growing competition. Lack of consumer awareness of the benefits of nutricosmetics and growing concerns associated with longer duration are expected to increase the market growth 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 market share of nutricosmetic ingredients is consolidated by the top ten players on the market. The 10 nutricosmetic ingredients market companies are BASF SE, Gelita AG, Croda International Plc., DSM NV and Kyowa Hakko, among others.
Key points to remember
North America dominated the nutricosmetic ingredients market in 2020 due to growing health awareness and increasing adoption rate of dietary supplements. The scope of the Nutricosmetics Ingredients market for different regions will be provided in the final report.
Increasing investment in research and development activities for the production of vitamin products and increasing use of dietary supplements are likely to promote the market growth of the Nutricosmetic Ingredients Market report.
A detailed analysis of the strength, weaknesses, and opportunities of major players operating in the market will be the Nutricosmetics Ingredients Market report.
The higher price of nutricosmetics and increasing competition are poised to create hurdles for the market for nutricosmetics.
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