Nutracosmetic Market to Reach $7.8 Bn, Globally, by 2031 at 7.7% CAGR: Allied Market Research

Increase in consciousness about external beauty, demand for herbal and natural skin nutricosmetic products, and high adoption by male in their daily routines drive the growth of the global nutricosmetic market.

PORTLAND, Ore., July 25, 2022 /PRNewswire/ -- Allied Market Research published a report, titled,'Nutracosmetic Market by By Ingredient (Carotenoids, Probiotics, Vitamins, Others), by Application (Skin Care, Hair Care, Nail Care), by Demographic (Male, Female), by Distribution Channel (Hypermarket and Supermarket, Specialty Stores, Pharmacies and Drug Stores, Online Sales Channel, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.' According to the report, the global nutracosmetic industry generated $3.6 billion in 2021, and is estimated to reach $7.8 billion by 2031, witnessing a CAGR of 7.7% from 2022 to 2031.

Drivers and Opportunities

Increase in consciousness about external beauty, demand for herbal and natural skin nutricosmetic products, and high adoption by male in their daily routines drive the growth of the global nutricosmetic market. Moreover, rise in awareness regarding these products and its benefits through social media channels and the endeavor to keep healthy and youthful skin present opportunities in the coming years.

Covid-19 Scenario

• Production activities of nutricosmetics products stopped completely or partially due to lockdown restrictions, unavailability of workforce, and supply chain disruptions. This led to reduced production volumes of nutracosmetics.
• Owing to closure of distribution channels such as hypermarket and supermarket, specialty stores, and others during the lockdown, the sales volume also decreased considerably in 2020. This resulted to decline the overall revenue. However, the demand is estimated to recover post-pandemic and the market will recover steadily.

Request Sample Report at https://www.alliedmarketresearch.com/request-sample/8432

The skin care segment to maintain its leadership status during the forecast period

Based on application, the skin care segment held the highest market share in 2021, contributing to more than half of the global nutricosmetic market, and is projected to maintain its leadership status during the forecast period. This is due toemergence of ingredients for healthy skins such as lycopene and pycnogenol, increase in sales of skin care products that contain omega-3 fatty acids, vitamin D, and vitamin A, and continuous innovation in ingredients, product form, and packaging materials. However, the nail care segment is estimated to manifest the largest CAGR of 8.9% from 2022 to 2031, owing torise in popularity of nail care nutricosmetics among both young and aging population and surge in awareness regarding the nail care products.

The female segment to maintain its lead position throughout the forecast period

Based on demographic,the female segment contributed the highest market share in 2021, accounting for nearly four-fifths of the global nutracosmetic market, and is expected to maintain its lead position throughout the forecast period. This is attributed toincrease in awareness about the benefits of nutricosmetics products among female population and rise in adoption to flaunt a healthy and glowing skin. However, the male segment is expected to witness the highest CAGR of 8.8% from 2022 to 2031, owing towide availability of nutricosmetics products such as lotions, creams, serum, and others for men and rise in consciousness about personal well-being and appearance.

Europe to maintain its dominance in terms of revenue by 2031

Based on region, Europeaccounted for the highest market share in terms of revenue in 2021, holding nearly two-fifths of the global nutracosmetic market, and is expected to maintain its dominance in terms of revenue by 2031. This is attributed to innovations with new color pallets and skin specific treatments, rise in concerns about skin cancers and exposure to harmful rays, and increase in distribution of nutricosmetics product chains. However, Asia-Pacific is estimated to register the fastest CAGR of 9.9% during the forecast period. This is due toexpansion of customer base and operating areas across various countries by leading players and surge in awareness regarding natural and organic nutricosmetics products.

For Purchase Enquiry at https://www.alliedmarketresearch.com/purchase-enquiry/8432       

Leading Market Players

• BASF SE
• Amway
• GlaxoSmithKline PLC
• Herbalifenutition ltd
• GNC Holdings, LLC
• Shiseido Company, Limited
• Pfizer
• KORA Organics
• Suntory Holdings Limited
• Blackmores Limited

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

Similar Reports:
• Vegan Beauty Products Market Opportunity Analysis and Industry Forecast, 2021-2027
• Herbal Beauty Products Market Opportunity Analysis and Industry Forecast, 2020-2027
• Halal Cosmetics Market Opportunity Analysis and Industry Forecast, 2020-2031
• Cosmetic Serum Market Opportunity Analysis and Industry Forecast, 2021-2030
• Cosmetics Face Serum Market Opportunity Analysis and Industry Forecast, 2021-2030

About Us:                       

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:                          

David Correa                                         
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn  | Twitter

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg