Globally the market for nutricosmetics, both in the form supplements and beauty foods and drinks, continues its healthy growth trajectory, and new product development is also rising. Nutriceuticals now come in a more diverse range of formats and are designed for a wider range of consumers, tackling a wealth of different issues – from anti-ageing to anti-blemish via UV protection. The quality of beauty foods and drinks is also improving. However, issues still remain in some regions surrounding perceived efficacy and necessary time scales. As such, further consumer education is needed.
The nutricosmetics market is growing apace with rising consumption and NPD in both supplements and beauty foods/drinks. But despite clearer regulations, lack of familiarity and education means manufacturers must strive to win consumers in certain regions, says Julia Wray
If we truly are what we eat recent data on the global nutricosmetics market would suggest that mankind is becoming progressively more attractive.
According to Euromonitor International, the beauty supplements market was worth $3.55bn in 2011, up from $3.39bn in 2010. And while the market research company’s 2011 data on beauty foods and drinks is not published until later this year, the market was worth a solid $1.04bn in 2010 and looks set to record positive growth in 2011.
Japan remains the hub for innovation in food, drink and supplements with beauty enhancing claims, according to Mintel, although China, the US and India are also active when it comes to NPD.
Moreover Japan continues to lead the way in terms of consumption. “Japan is still far and away the leading market for nutricosmetics,” says Diana Cowland, health and wellness analyst at Euromonitor. “In 2010 sales were $778m, while the second largest market, South Korea, was worth $49m, so no country even comes close. And while products are becoming more readily available in western Europe, it’s still Japan that’s spurring development.”...
This is a small extract of the full article which is available ONLY to premium content subscribers. Subscribers sign-in (top right) to read the article.
Subscribe now to premium content on Cosmetics Business