Global Nutricosmetics Market – Competitive Analysis —
Highly competitive Nutricosmetics market appears fragmented due to the presence of several major and small players. These players are competing based on portfolio, product differentiation, and pricing. Competitive strength of these players is dependent on, product precision, product pricing, product reliability, and versatility largely. The market is expected to witness intensifying competition owing to the expected improvement in the line of products, services& innovations.
Key players leading the Global Nutricosmetics Market include Beiersdorf AG (Germany), L'Oréal S.A. (France), Nestle (Switzerland), Calamansa (Spain), Procter & Gamble Co. (US), Nutrikosm (Spain), Laboratoire PYC (France), Zea Skin Solutions Skincare (UK), and Plandai Biotechnology (UK) among others.
Nutricosmetics refers to natural health products that generally contain ingredients to promote healthy skin, hair and nails, slimming/body contouring, and/or protect the body from stressors that accelerate the aging process. The term nutricosmetics although is not acknowledged by the FDA and they fall under ‘dietary supplements, they (nutricosmetics) are certainly a growing trend in skin, hair and nail care.
Over the last couple of years, there has been a more drastic change in the consumers’ preferences and hence there has been a rapid growth in the consumer demand for natural, organic and clean beauty products. From lateral consumers to the millennials who adopt beauty wellness products early; nutricosmetics have springboarded to mainstream across the globe. Needless to say, the future of the nutricosmetics market appears to be promising.
Acknowledging the exponential growth, the market is witnessing currently; Market Research Future (MRFR) in its recently published study report asserts that the Global Nutricosmetics Market will perceive colossal accruals by 2023 registering a striking CAGR during the forecast period (2018 to 2023). Increasing adoption of these cosmetics especially in developing countries is contributing to the market growth.
In the last couple of years, there also has been a shift in clinical research, manufacturing technologies and product forms that sparked interest from cosmetic companies to learn more about this segment. From antioxidants, collagen to probiotics, the potential for a viable nutricosmetics market looked promising for manufacturers and marketers.
Nutricosmetics is about the lifestyle, integration between nutrition, lifestyle, and natural beauty has evolved within this category, bringing a variety of health and research experts to weigh in on beauty from within. Many brands are integrating topical skin & hair care products along with nutricosmetics supplements which dictates opportunity for growth.
The increasing business of digital content marketing and influencer campaigns offer these brands opportunities to educate and attain third-party endorsement, without the high-speed through traditional advertising channels.
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Improved research & efficacy bring personalized approaches for nutricosmetics. Clinical research will continue Nutricosmetics to grow, bringing forth sophisticated ingredients and formulations that are potentially personalized within this segment.
Additional factors fostering the market growth include the increasing awareness towards the advantages that nutricosmetics can offer. Similarly, factors such as the inappropriate lifestyle and addictions such as alcoholism, smoking, unhealthy habits such as extended working hours and the reliance on fast-food which further results into lack of adequate nutrients are fostering the market growth, generating the demand for nutricosmetics.
On the flip side, factors such as the stringent regulatory norms and the unfavorable reimbursement policies in various countries are restricting the growth of the market. Furthermore, ample availability of low-cost, counterfeit products floating in the market is impeding the market growth, taking the good quality brands off-shelves and disturbing their sales.
Innovation/Industry/ Related News:
February 22, 2019 - Royal DSM or Koninklijke DSM N.V., (the Netherlands), a multinational firm active in the fields of health, nutrition and materials announced its instigation into venturing bolster skin microbiome interests partnering with S-Biomedic (Belgium), a biotech company, producing live probiotic cosmetics.
DSM, with its long-established expertise in skin biology and in-depth knowledge in the field of epidermal science, appears to be well-placed to extend its research and innovation focus on the skin microbiome. While with its novel platform technology supported by fundamental insight into the skin microbiome and with promising products in the pipeline S-Biomedic has a track record of partnering with leading dermatological and cosmetic companies.
The partnership would enable these firms to rapidly progress their portfolio of products and enter into development and commercialization agreements with leading dermatological and cosmetic brands.
Global Nutricosmetics Market – Segmentations
For enhanced understanding, the report has been segmented into four key dynamics.
• Vitamins & Minerals
• Herbs & Botanicals
• Essential Fatty Acids
By Distribution Channel
• Non-store based
• Asia Pacific
• North America
Browse The Full Research Report At@ https://www.marketresearchfuture.com/reports/nutricosmetics-market-2048
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