North America Nutricosmetics Market Analysis
The North America Nutricosmetics Market is expected to register a CAGR of 8.85% during the forecast period.
- Increasing healthcare costs, obesity, aging population, and chronic health conditions are the key factors driving the sales of nutricosmetics products.
- The shift of the consumers toward healthier consumption habits, like veganism and organic foods, is promoting the use of naturally-developed nutricosmetics in the region.
- However, American consumers are generally less health-conscious than their counterparts from the other developed countries. Thus, due to the lack of sales through streamlined distribution channels like pharmacies, many companies have witnessed minimal success in the market and have reconsidered the existence of their products.
North America Nutricosmetics Market Trends
Herbal Supplements are Expected to Foster the Growth of the Market
Among the ingredients used in nutricosmetics, antioxidants are the most crucial ones. As free-radical scavengers, they prevent the oxidation of cell compounds, which is generally considered one of the main mechanisms of premature aging. The best-known antioxidants are carotenoids (beta-carotene, lycopene, lutein, zeaxanthin, and astaxanthin) and polyphenols (anthocyanidins, catechins, flavonoids, tannins, and procyanidins, such as Pycnogenol). Its sources include tomatoes, fungi, algae, tea leaves, grape seed, citrus fruits, and berries. The incorporation of antioxidants in herbally-produced supplements is the demand of the region and therefore, several manufacturers are trying to develop herbal solutions for various issues.
The Demand for Fortified Foods is Rising
Fortified and functional foods are becoming more popular among health-conscious consumers, leading to the higher uptake of carotenoids among major food companies. Carotenoids are known to have many antioxidant properties. Many nutricosmetic manufacturers use natural ingredients, such as fruit extracts and PUFA, which when ingested, can enhance the appearance of skin, nails, and hair. Among all the ingestible and topical combination products within the industry, beauty drinks are proving to be a highly palatable option. The major reasons for the increased demand for beauty drinks include increasing prevalence of lifestyle diseases and people consciously taking preventive healthcare measures. In addition, the market for beauty drinks is predominantly driven by the standard consumer shift toward preventive skincare, with the increasing aging population in the developed countries of the region.
North America Nutricosmetics Industry Overview
In the United States, the consumers dislike consuming ingestible products from cosmetic brands. Therefore, food and beverage manufacturers consider nutricosmetics to be a good opportunity to enter the nutricosmetics market with their fortified food products that provide similar benefits like nutricosmetics. The Canadian market is driven by increasing demand for health and beauty products like supplements and drinks among the aging population and young adults. Hence, the manufacturers have a great platform to exhibit their research and innovation and come up with unique remedies to cater to the fueling demand of the nutricosmetic market.
North America Nutricosmetics Market Leaders
Amway
Herbalife International, Inc
General Nutrition Centers, Inc.
Beiersdorf AG
Shiseido Co.,Ltd.
- *Disclaimer: Major Players sorted in no particular order
North America Nutricosmetics Market News
- In April 2023, Biosil launched several vegan formulations such as Biosil Advanced Hair and Nail Care, Biosil Healthy Aging, and Biosil Collagen Generator Plus with updated packaging. The new products contain the brand's signature ch-OSA boosted with additional powerhouse ingredients, such as vitamin C, biotin, and selenium as per the company claims.
