Market players are focusing on making consumers aware of the benefits of their products, as well as bringing accessible and affordable products to explore the market prospects.

DUBAI, UAE / ACCESSWIRE / November 23, 2020 / Future Market Insights: According to Future Marketing Insights (FMI) recent study, the global nutricosmetics market is anticipated to reflect at a CAGR of over 8% during the forecast period, 2020-2030. The growth can be primarily attributed to rising concern for personal care and growing awareness among consumers regarding the side effects of chemical components in their cosmetic products.

'Market players are targeting regions such as South & East Asia wherein the consumers are getting health conscious as well as there is a rise in disposable income. Players are working on launching premium products as accessibility and penetration are higher in contrast to mass products' comments the FMI analyst.

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Nutricosmetics Market - Key Highlights

• North America will remain the largest market with one-fifth of the overall market share
• Multi-functional segment will record a high growth pace throughout the assessment period.
• Supplements will remain the key beneficiary holding around 80% of the market share.
• Medium range products are likely to lead by the price range segment over the forecast period.
• Growth foreseen in the departmental store's segment will remain high among other categories.

Nutricosmetics Market - Drivers

• Nutricosmetics market is foreseeing rising demand as a result of their organic and natural components offering a holistic beauty regimen for hair, nails, and skin along with taking care of the person's health.
• Growing consumer's preference for wellness and natural ingredients propelling the market growth.
• Introduction of micro-biome skincare products is creating significant opportunities for manufacturers.

Nutricosmetics Market - Restraints

• Low awareness and adaptability among consumers regarding the long-term benefits of these products is hindering market growth.
• Consumer's unwillingness to shift from topical cosmetic products likely to be a major challenge for the companies.

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COVID-19 Impact on the Market

The nutricosmetics market has been impacted by the COVID-19 induced lockdown across the globe. Production has been hindered due to disruption in transport ensuing in a lack of raw materials. Furthermore, growing awareness among consumers has led to spending on only essential for survival products. As the markets are gradually regaining their growth pace, the nutricosmetics market is also anticipated to regain normalcy in the short term.

Competitive Landscape

Key players operating in the global nutricosmetics market include Herbalife Nutrition Ltd., Pfizer Inc., Amway Corporation, Viviscal Limited, Phyto Botanical Power, Everest NeoCell LLC, 21st Century HealthCare, Inc., Amazing Nutrition, Nature's Bounty, PureLogical International, Nutrawise health & beauty corporation, Ivy Bears, MartiDerm, Vitabiotics Ltd., Shiseido Co. Ltd., Origo Cosmecuticals Pvt. Ltd. and H&H Group.

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About the Study

The study offers readers a comprehensive assessment of the nutricosmetics market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of product type (supplements, and beauty beverages/drinks), primary function (skin care, sun care, anti-aging, radiance & glow, anti-acne/pimple, hair & nail care, weight management, and multi-functional), price range (economy, mid-range, and premium), distribution channel (hypermarkets/supermarkets, convenience stores, specialty stores, direct selling, departmental stores, e-Commerce, and other retail formats) , across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).

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About Future Market Insights

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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Report: https://www.futuremarketinsights.com/reports/nutricosmetics-market

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SOURCE: Future Market Insights