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.
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.