Nutricosmetics Market to Experience Significant Upsurge in the Forecast Period, Driven by Increased Usage of Anti-Aging Products – Future Market Insights

Over the years, the drive for delaying aging has taken precedence amongst consumers, attributed to a desire to appear aesthetically appeasing. In addition, increasing skin and hair problems associated with rising pollution is prompting individuals to seek protective remedies.

DUBAI, UAE / ACCESSWIRE / June 10, 2020 / The notion of cosmetics has undergone a paradigm shift in recent years. Since the dawn of human civilization, cosmetics have played an integral role in enhancing the aesthetic value of our lives, particularly among women. Using a combination of natural and synthetic ingredients ranging from bugs, berries and charcoal to chemicals such as phenoxyethanol, sodium benzoate and formaldehydes, cosmetics have been available across all the continents of the world. However, negative publicity garnered by synthetic cosmetics due to the deleterious effects they have on human skin has discouraged their usage, broadening the scope for naturally derived cosmetics.

The concept of nutricosmetics has embedded itself extremely well in the overall cosmetics industry, attributed to its dual purpose of enhancing attractiveness as well as safeguarding the skin, hair and nails from possible contamination and infection by pathogens and preventing their degeneration. For all its worth, the global nutricosmetics market is slated to expand positively at a substantial CAGR throughout the forecast period of 2020-2030. While the demand for nutricosmetics has remained constant during the COVID-19 pandemic, supply has been disrupted due to lockdowns imposed to curb the spread of the virus. This might induce stagnancy in the market in the short-term.

“Transition towards mindful and healthy living has boded well for market players involved in the production of nutricosmetics over the years. Increasing demand for anti-aging formulae amongst consumers is pushing vendors to invest in critical formulations, augmenting their revenue pool,” says a prominent FMI analyst.

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Global Nutricosmetics Market- Key Takeaways

• Increased consumption of nutritional supplements is driving the growth of the nutricosmetics market;
• Online retailing is anticipated to be the most convenient mode of transporting nutricosmetics, owing to a drop in traditional sales through supermarkets and departmental stores in the wake of the coronavirus pandemic;
• North America and Europe are expected to remain the dominant regions for nutricosmetics, however, East & South Asia are poised to provide stiff competition, attributed to increasing usage of organic and naturally derived cosmetics;

Global Nutricosmetics Market- Key Driving Factors

• Premature skin aging, wrinkling and falling hair among women are proving to be a catalyst for increased usage of nutricosmetics;
• Lesser known side-effects of nutricosmetics and greater benefits are poised to increase their adoption in the long-term forecast;
• A combination of essential ingredients such as proanthocyanidins, Vitamin C and Vitamin E provide protection against sunburns and other skin problems, increasing usage among consumers.

Global Nutricosmetics Market- Key Restraints

• Lengthy approval processes by regulatory authorities such as the Fair Packaging and Labelling Act (FPLA) and the Federal Food, Drug and Cosmetic Act (FD&C Act) to check for potential side-effects often delays product launches, impeding market growth;
• Nutricosmetics are expensive, owing to the lengthy approval processes they are subjected to, making it unaffordable for low and middle income households.

Anticipated Impact of the COVID-19 Outbreak

In the initial phases of the COVID-19 pandemic, the global nutricosmetics market experienced significant disruptions in its supply chains. This was primarily due to the nationwide lockdowns imposed across continents to stem the contagion. Over the past few weeks, restrictions have been eased in order to revive the global economy which has become stagnant due to the recession that accompanied the pandemic. As production cycles revert to normalcy, the nutricosmetics market is poised to remain afloat albeit slow in terms of growth.

On the bright side, the pandemic has made consumers even more conscious about their health, thereby compounding their expenditure on health enhancing products. This includes nutricosmetics as well.

As the world transitions towards a new normal, global businesses are poised to take a turn for the better, leveraging digital platforms to expand operations. Reeling under the effects of the pandemic, prominent nutricosmetics manufacturers are strengthening their online marketing platforms to make their products accessible to end-users. With an increasing proportion of consumers preferring e-commerce as a precautionary measure against the coronavirus to shop for products, its scope is anticipated to burgeon in the future.

Explore the global nutricosmetics market report consisting of 145 illustrative figures, 70 data tables and the table of contents. You can also find a comprehensive market segment on https://www.futuremarketinsights.com/request-special-price/rep-gb-11627

Competition Landscape

The global nutricosmetics market is characterized by the presence of a large number of market players such as Functionalab Group, BASF SE, Herbalife Nutrition Ltd., Pfizer Inc., LycoRed Ltd., Frutarom Industries Ltd., ExcelVite Sdn Bhd, Vitabiotics Ltd., and Shiseido Co. Ltd to name a few. The abovementioned market players are concentrating on leveraging their geographical footprint across all the continents by virtue of tying-up with e-commerce giants such as eBay, Amazon, Flipkart, Alibaba, etc. to leverage their online platforms. This has become a necessity as a majority of the consumers resort to online purchases over traditional modes. Moreover, vendors are innovating organic formulations with minimal to no side effects to facilitate greater customer outreach.

More Valuable Insights into the Nutricosmetics Market

Future Market Insights, in its new offering, provides an unbiased analysis of the global nutricosmetics market, presenting historical demand data (2015-2019) and forecast statistics for the period 2020-2030. The study divulges compelling insights on the nutricosmetics market based on form type (powder, liquid, capsules and tablets), active ingredients (carotenoids, vitamins, omega-3, collagen and others), sales channel (wholesalers/distributors, online retailers, hypermarkets/supermarkets, pharmacy stores, specialty stores, convenience stores and other sales channels) and application (skin care, hair care and nail care) across six major regions (North America, Latin America, Europe, East Asia, South Asia & Pacific and Middle East and Africa).

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