The nutricosmetics market saw strong growth in 2014-15 and the global market is forecast to be worth US$7.16bn by 2020, growing at a CAGR of 11.5% from 2014-20, according to analyst Transparency Market Research. Growing consumer preference for green credentials is influencing the growth of the market, says Transparency, and it remains led by the Asia Pacific region, closely followed by Europe, due to its ageing population.
However, countries such as South Africa, UAE, Brazil and Taiwan are as yet untapped, says the analyst, and there should be substantial growth opportunities for manufacturers in these markets.
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