08.11.22
The nutricosmetics market value is poised to cross $13.7 billion by 2030, according to a new research report by Global Market Insights Inc.—registering an 8.1% CAGR between 2022 and 2030.
Consumers are increasingly aware of ingestable beauty products and ingredients, such as collagen—and they understand how these products benefit the hair, skin, and nails.
Multivitamins and collagens, among other nutricosmetics, are becoming an integral part of the diet in regions such as Europe, North America, and Japan, the report says. Consumers also prefer nutritional supplements and natural ingredients over synthetic, chemicals.
According to the Council for Responsible Nutrition, in 2021, nearly 75% of Americans consumed dietary supplements. These factors will contribute to the burgeoning demand for safe and effective cosmetic supplements, the report states.
The gummies and soft chews segment is projected to depict a CAGR of over 7.7% through 2030.
Supplements that claim to deliver "beauty from within" are often made with vitamins, omega-3 fatty acids, carotenoids, and more.
Consumers are gaining increasing awareness about the health benefits of omega-3 fatty acids, including their anti-inflammatory properties. The ingredient also helps in preventing dry, dull, and premature skin aging.
The omega-3 fatty acids segment accounted for over 11.8% of the nutricosmetics market share in 2021 and will be influenced by new product launch initiatives. For instance, in November 2019, BASF's Nutrition and Health division announced a collaboration with Ideogen to introduce an omega-3 fatty acid solution, dubbed 'hepacor', in Switzerland.
The nail care segment held 8% of the nutricosmetics market share in 2021, which can be credited to the rising emphasis on maintaining healthy nails, especially among the younger generation.
Nutricosmetics designed for nail care applications are also highly economical. The rising number of beauty-conscious consumers and changing lifestyles will further augment the industry share by 2030.
Lumity is shown above—and its luxe paackaging looks more like a beauty product than a supplement.
