Published on : May 18, 2016
Increasing geriatric population globally and the rising disposable income of consumers are the key factors boosting the global nutricosmetics market at a CAGR of 11.50% from 2014 to 2020. The market according to a report published by Transparency Market Research stood at US$3.3 bn in 2013. By the end of 2020, the market is expected to reach a valuation of US$7.1 bn.
Nutricosmetics are health products derived from natural ingredients and are consumed orally. These products include targeted nutrients and antioxidants that help in prevention and treatment of various hair, nail, and skin related problems. Because these products are made from natural ingredients they have fewer side-effects. This is one of the primary factors fuelling demand from the nutricosmetics market. These products are available in the market in form of tablets, pills, jellies, drinks, and capsules. Developing economies exhibit lucrative opportunities for this market due to the rising demand for anti-aging products and increasing willingness among consumers to spend on their look and wellness.
Rising Demand for Natural Products to Boost Nutricosmetics Market
Not much time ago topical skincare was regarded as the cornerstone of beauty treatments. However with healthy lifestyle and wellness becoming more integrated in modern lifestyle, consumers have started focusing more on natural alternatives such as nutricosmetics that will help them enhance their beauty from within. Furthermore, the increasing clinical research around the effects of unbalanced or stressed gut microflora on the appearance of skin has received major attention. This is expected to fuel the demand for sophisticated technologies in nutricosmetics.
Product Innovations to Positively Influence the Market
The market is expected to gain significant impetus as people grow keener on keeping themselves youthful for a longer time. This is expected to boost the global nutricosmetics market. However, in order to achieve this not many customers are willing to make drastic lifestyle changes. For instance consumer’s reluctance of giving up alcohol has prompted companies to create strategies for catering to their evolving needs. To capitalize on such opportunities products such as Anti-aGin, which is a first of its kind ‘alcoholic equivalent of facial’ is launched in the market. As per reports 40% of the gin is distilled with pure collagen, which is considered extremely beneficial for a younger looking skin.