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The global nutricosmetics market (inclusive of food, drink and supplements) hit a valuation of US$4.5 billion in 2011.
The term nutricosmetics refers to nutritional supplements which can support the function and the structure of the skin. Many micronutrients have this effect. Vitamin C, for example, has a well established anti-oxidant effect that reduces the impact of free radicals in the skin. It also has a vital function in the production of collagen in the dermis.
The nutricosmetics industry offers tremendous growth potential as the world moves towards a future where ingestible products would be developed specifically based on hormones, physical needs, and health.
Nutricosmetics continued to see growth during the recession, as consumers continued to spend on products that reduced the signs of ageing. However, this was driven primarily by supplements.
The similar growth patterns of fortified/functional products, vitamin and dietary supplements and skin care highlight that consumers are turning to prevention rather than pay for treatment.
Supplements are perceived to have greater benefits as they are closely linked to over-the-counter pharmaceutical products. However, food and drink products are slowly emerging in countries outside Asia Pacific.
While the majority of sales stem from supplements, consumer interest in beauty-related food and drink has returned to pre-recession levels. However, to further increase nutricosmetic sales, a number of issues need to be addressed, such as consumer trust, efficacy, price and convenience.
Nutricosmetics products are primarily targeted at women aged 40 or above since the group is particularly concerned about health and wellness. However of late, the products are also gaining popularity among younger women in the age group of 25-35, due to cosmetic benefits and environmental concerns.
Lately, the nutricosmetics gambit has further widened to include the hitherto largely ignored category of men as a niche, but critical target segment. Although at present the market potential is highly untapped and mainly restricted to products dealing with hair loss issues, the male grooming segment is beginning to catch up with the rest, judging from the slew of beauty products specifically aimed at men.
For more information on the nutriocosmetics market, see the latest research: Nutricosmetics Market
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