GIA predicts nutricosmetics market will reach $4.24bn by 2017

By Andrew McDougall

- Last updated on GMT

Related tags Marketing

Increasing awareness among consumers, an aging population, and an inclination towards less invasive beauty treatments, will help to drive the nutricosmetics market in the next few years, according to a report.

“Nutricosmetics: A Global Strategic Business Report”​, by Global Industry Analysts (GIA) predicts that the global nutricosmetics market will reach $4.24bn by 2017.

According to the report, Europe, driven by anti-aging concerns, constitutes the single largest market worldwide, as stated by the new research report on Nutricosmetics.

It highlights the fact that Japan is a highly developed and mature nutricosmetics market, leaving Europe trailing behind as the next largest and most influential global market.

US still blossoming

The US market, although still in the early stages of development, displays great potential for future development and is forecast to expand at a high CAGR of over 14 percent through 2017, according to GIA.

The market research firm cites stricter regulations in the US as the main factor in curbing large-scale success in comparison to other regions, as the FDA categorizes such products as dietary supplements in the US.

Nutricosmetics ingredients, comprising antioxidants and specific carotenoids is a rapidly growing category within the industry, and offers huge promise in the immediate future.

GIA states that nutricosmetics is the latest food trend that is gaining popularity worldwide due to increasing consumer desire to go beyond conventional beauty solutions.

Beauty from within trend

As personal care and medical science become interwoven with the aesthetics industry, consumers are increasingly embracing the ‘beauty from within’ concept for promoting external beauty and optimizing total health.

Last year, collaborated with to stage its ‘Beauty From Within’ conference, in Paris which explored the growing trend of nutricosmetics.

The one-day conference provided an in-depth look at new trends in nutricosmetics, combining scientific advances and new ingredients with regulatory challenges and opportunities and marketing strategies.

Speakers included Dr Frank Schonlau from Horphag Research, David Djerassi from LycoRed and Prof Christine Lang, managing director of Organobalance.

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