According to Data Bridge Market Research new Market report, global nutricosmetics market will account to an estimated USD 5,709.8 million in 2018 growing at a CAGR of 5.5% during the forecast period of 2019 to 2026.
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Nutricosmetics can be defined as that combination of nutrients which are majorly used in the production of various cosmetic products that enhance the structure of skin. These nutrients are established anti-oxidants which significantly reduce the effects of ultraviolet rays and protect skin damage by producing collagens.
Global nutricosmetics market is segmented on the basis of ingredients, application, intake type, distribution channel and geography.
By Ingredients (Antioxidants, Polyphenolics, Turmeric, Collagen, Fish Oils, Plant-Based Ceramides, Polypodium Leucomotos, Carotenoids, Vitamins, Omega 3 Fatty Acids, Others), Application (Food Supplements, Skin Care, Hair & Nail Care, Weight Management, Others), Intake Type (Pill Type Nutricosmetics, Drinkable Nutricosmetics), Distribution Channel (Modern Trade, Health & Beauty Stores, Specialty Stores, Pharmacy Stores, E-Commerce) and Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
FACTORS DRIVING GROWTH IN NUTRICOSMETICS MARKET
Rising Geriatric Population
According to United Nations Department of Economic and Social Affairs/Population Division; in 2017, estimated population of people with age 60 or above was 962 million, which means around 13 per cent of the population. This age bracket or group is growing at a rate of 3 per cent every year. Presently, Europe is leading the other regions in terms of population consisting of this age group. This brisk speed of ageing is expected to carry on in other regions as well, which projects that by the end of 2050 excluding Africa all regions of the world would have more than a quarter share of their total population at an age of 60 years and above. The population of this age group is projected to reach around 1.40 billion in 2030 and 2.10 billion in 2050, and could ultimately rise up to 3.10 billion in 2100.
This rising levels of age of population, is expected to be one of the major factors for the growth of nutricosmetics globally, as this category of individuals are increasing their adoption for the product to assist them in maintaining their health and retaining their youth.
Key Market Competitors:
Few of the major competitors currently working in the nutricosmetics market are Cargill Incorporated, DuPont, Nestlé, L’Oréal International, THE COCA-COLA COMPANY, Skinside AG, Croda International Plc, Pfizer Inc, International Flavors & Fragrances Inc, Robinson Pharma, Inc., Ashland, Vitabiotics Ltd, SEPPIC, Medcoll Bio, BASF SE, deep visions Multimedia GmbH, Martek Biosciences Corporation, Husum Mineral Fountain HMB GmbH & Co KG , Functionalab products, Lonza and Solgar Inc.
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