Asia-Pacific dominates the global nutricosmetics market in terms of geography. The demand for nutricosmetics in Asia-Pacific is due to the huge population and growing health awareness among the consumers in developing nations such as China and India. The increasing demand for “beauty from within products” is another factor which is influencing the growth of the global nutricosmetics market. The nutricosmetics market in Europe is mainly driven by growing demand for beauty and health supplements.
Nutricosmetics are oral based natural health products containing targeted nutrients and antioxidants that are used for treatment of the skin, hair and nails. Nutricosmetics are nutritional supplements which support the function and the structure of the skin. Many micronutrients have this effect. Nutricosmetics are products which can be ingested and that helps in enhancing the face, body, skin, hair, nails of individuals in many ways. They are beverages, functional foods or beauty supplements that contain active nutrients and ingredients such as enzymes, proteins, botanical actives, minerals, lycopene, sterol esters, and vitamins that are developed and marketed specifically as beauty aids. The name “nutricosmetics” is derived from the combination of the terms nutraceuticals and cosmeceuticals. Some of the micronutrients that act as nutricosmetic products are vitamin C, omega 3 fatty acids, collagen, glutathione, coenzymes Q10, carotenes and flavonoids among others.
The global nutricosmetics market can be segmented on the basis of product type, application and ingredient type. On the basis of product type, the market can be divided into pill nutricosmetics and liquid nutricosmetics. The liquid nutricosmetics market is comparatively larger as compared to the pill nutricosmetics market. Based on the application, the market for nutricosmetics can be classified into personal care, hair care, skin care, healthcare, digestive health, heart health, weight management and others. On the basis of ingredient type, the global market for nutrichemicals can be segmented into carotenoids, vitamins, omega 3 fatty acids and others.
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New products development in the nutricosmetics market is the key trend in the market. Customer adoption of nutricosmetics can be improved by increasing the accessibility factor, a trend that is becoming more and more prominent in the health space, Particularly due to increasing aging population, the global nutricosmetics market is witnessing substantial growth. Products such as pills, jellies, capsules, tablets and drinks are the different formulations of nutricosmetic products. Factors such as an increase in demand for natural products because of fewer side effects, rising medical health care costs and increasing popularity among the aging population are stimulating the growth of the global nutricosmetics market globally. Increasing beauty concern among people is one of the major driving factors of the nutricosmetics market.
The countries such as UAE, South Africa, Brazil, Taiwan and others have untapped markets that offer extensive growth opportunity in the nutricosmetics market.However, government regulatory issues on the import and export of nutricosmetics in some countries such as the U.S. pose a significant challenge to the growth of the nutricosmetics market.
Ferrosan A/S, Functionalab Inc, Laboratoire Oenobiol S.A.S., Laboratoires Inneov SNC., are the key competitors in the global nutricosmetics market. Beiersdorf Ag, BASF SE, Borba, Inc., Frutels LLC, Frutarom Industries Ltd., ISOCELL SA, GlaxoSmithKline Pharmaceuticals Limited, ExcelVite, Denomega Nutritional Oils AS, Groupe Danone SA, IMCD Group BV, Lonza Group Ltd., Perricone M.D., Nutrilo GmbH, Quest Vitamins, Martek Biosciences Corporation and LycoRed are some of the other competitors in the global nutricosmetics market.
This post was originally published on Financial Sector