Nutracosmetic Market is Expected to Reach $7.8 Billion by 2031, Growing At a CAGR of 7.7% From 2022 to 2031

Europe accounted for the highest market share in 2021, and is expected to grow at a significant CAGR during the forecast period.

5933 NE WIN SIVERS DRIVE, PORTLAND, OR, UNITED STATES, April 21, 2023 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Nutracosmetic Market,” The nutracosmetic market size was valued at $3.6 billion in 2021, and is estimated to reach $7.8 billion by 2031, growing at a CAGR of 7.7% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

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Convergence of advancements, beauty, and lifestyle propels growth of the nutricosmetics market. Moreover, the nutricosmetics market has witnessed continuous and sustained growth over the years, owing to rise in beauty-conscious female population. Several other factors such as increase in female labor force, rise in awareness regarding maintaining prolonged beauty, and change in lifestyle have significantly contributed toward growth of the nutricosmetics market. Furthermore, demand for herbal and natural skin nutricosmetics products is anticipated to increase at a substantial rate during the nutracosmetic market forecast period Hence, rise in awareness regarding fashion and natural skin products significantly propels nutracosmetic market growth.

Manufacturers are changing their product branding and advertising strategies to accelerate their sales across various countries. Innovative strategies such as new product launches with natural ingredients, regular nutricosmetics products, and innovative packaging have been adopted by manufacturing companies to increase sales of nutricosmetics products. As nutricosmetics have become an integral part of lives, consumers, especially women, prefer to use products, which are handy and easy to use while travelling or attending social meetings. Use of natural ingredients for manufacturing nutricosmetics products, which does not have any adverse effect on skin is a popular strategy of manufacturers to attract more customers. This also helps in increasing revenue of companies operating in this industry. Collectively, all these strategies adopted by manufacturers drive the global nutracosmetic industry.

The market in the Asia-Pacific offers lucrative nutracosmetic market opportunities for operating players, owing to presence of countries such as India, China, Australia, and New Zealand. Increase in adoption of western lifestyle, surge in population, and rise in disposable income of consumers majorly are the major nutracosmetic market trends. Moreover, increase in awareness regarding nutricosmetics products and its associated benefits have further augmented growth of the market.

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Developing regions offer potential growth opportunities to the market players for launching innovative nutricosmetics products. Moreover, countries in Latin America, such as Brazil, are anticipated to unfold attractive business opportunities, owing to increase in awareness regarding nutricosmetics products and its benefits.

The nutricosmetics industry is segmented on the basis of ingredient, application demography, distribution channel, and region. By ingredient, the nutricosmetics market is divided into carotenoids, probiotics, vitamins, and others. By application, it is divided into skin care, hair care, and nail care. On the basis of demography, it is bifurcated into male and female. By distribution channel, it is divided into hypermarkets/supermarkets, specialty stores, pharmacies & drug stores, online sales channels, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

Key Benefits For Stakeholders:

○ This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the nutracosmetic market analysis from 2021 to 2031 to identify the prevailing nutracosmetic market opportunities.
○ The market research is offered along with information related to key drivers, restraints, and opportunities.
○ Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
○ In-depth analysis of the nutracosmetic market segmentation assists to determine the prevailing market opportunities.
○ Major countries in each region are mapped according to their revenue contribution to the global market.
○ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
○ The report includes the analysis of the regional as well as global nutracosmetic market trends, key players, market segments, application areas, and nutracosmetic market growth strategies.

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