Nutricosmetics are natural health products that are oral based and have evolved from nutraceutical and cosmeceutical. It contains targeted nutrients and antioxidant mixed elixirs which have a treatment or preventive effect on the hair, skin or nails.
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Based on product types, the Nutricosmetics Market is categorized into liquid and pill, which is further subdivided into skin care, hair care and others for both the categories. Growing consumer awareness for natural products and increasing demand for anti-aging product are the major factors driving the demand for nutricosmetic products. The Nutricosmetics market has experienced diversified trends across different regions such as North America, Europe, Asia Pacific and RoW.
Among North America, Europe, Asia Pacific and RoW, Asia Pacific held the largest market share of 50.2% in 2013 in terms of revenue, followed by Asia Pacific. In 2013, Europe held a market share of 38.3% in terms of revenue. This trend is expected to be the same over the forecast period. It is estimated that Asia Pacific would be the largest market for nutricosmetics in 2020, followed by Europe.
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The global nutricosmetics market was valued at USD 3.36 billion in 2013 and is estimated to reach USD 7.16 billion by 2020 in terms of revenue. The market in terms of revenue is projected to grow at a CAGR of 11.5% from 2014 to 2020.
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