The global market for nutricosmetics is estimated to be worth in the region of $2-3bn in 2012 and is projected to grow 10-12% per year to reach $5-6bn by 2018. Global consumer research supports this growth projection. This report examines the market forces and consumer attitudes influencing demand, and offers recommendations for positioning products to take advantage of emerging opportunities.
- Use consumer data to understand which groups can be targeted based on a solid interest in nutricosmetics.
- Examine interesting case studies highlighting innovation in the nutricosmetics sector.
- Understand which new channels could be used to sell nutricosmetics.
- Benefit from ideas on how manufacturers can achieve success without approved health claims.
Reasons To Buy
- To what extent are consumers willing to buy nutricosmetics. How does interest vary by age group and region?
- Which product forms and formulation types have the best chances of success?
- Which consumer trends can manufacturers use to most effectively reach consumers?
- How have regulations affected this market and how will this change moving forward? What can manufacturers do to bypass such problems?
- What must be done moving forward in order to tap in to the consumer interest for nutricosmetics?
In 2013, when asked if they would buy a food or drink that improves appearance using functional ingredients (e.g. collagen or vitamins), 34% of respondents said yes and 47% said maybe. Although consumer interest in this immature sector is relatively static at present, the data illustrate a solid level of demand for nutricosmetics.
By product form, the foods segment remains the most challenging due to the formulation trade-offs of healthfulness, taste, and calories. Beverages are viewed as a better platform, but it is supplements that are viewed as the easiest way to deliver a full dose of the active ingredients necessary to see results.
Promising opportunities in the nutricosmetics market include skincare products that address issues beyond wrinkle reduction, such as sun protection, tan acceleration, dark spot removal, and cellulite reduction, and haircare beverages that can be co-marketed with topical haircare products.