Europe Nutricosmetics Market Analysis
The Europe Nutricosmetics Market is expected to register a CAGR of 8.54% during the forecast period.
Nutricosmetic products are nutraceuticals that improve the condition of skin, hair, and nails by supplementing nutrients. They are products and ingredients developed around the correlation between good health and beauty. They are beauty-dietary supplements that help the skin to improve or heal with the oral intake of nutritional substances. These supplements offer a wide range of benefits for the skin, such as softening of wrinkles and lines, as well as improving elasticity and roughness. 'Beauty from within' is gaining acceptance among customers, particularly among aging populations in developed economies. The inclusion of active ingredients, such as collagen and omega-3 and -6 fatty acids, in nutricosmetics is likely to transform the beauty industry.
Consumers in the region are increasingly spending on various types of nutricosmetics products owing to the rise in concerns about the natural ingredients in beauty products. Increasing disposable income encourages people to buy nutricosmetic products, thus significantly boosting the market. For instance, according to the International Monetary Fund, the gross domestic product (GDP) per capita in France was USD 42,409 in 2022. Additionally, consumers are favoring products with natural, organic, plant-based, vegan, and non-GMO ingredients. Brands that prioritize clean label formulations and transparent ingredient sourcing are enticing a larger group of the health-conscious consumer base. The market players are aunching new vegan and natural-based nutricosmetics to cater to rising demand. For instance, in July 2023, Monteloeder, a Spanish-based health and wellness company, and a subsidiary of SuanNutraintroduced a vegan-friendly gummy format for its Eternalyoung anti-aging botanical blend.
Europe Nutricosmetics Market Trends
Increasing Demand for Nutricosmetics Among Millennials
The millennial generation is opting for the consumption of nutricosmetics due to rising beauty and health and as an extension of their routines. The significantly changing lifestyle of consumers along with the increased importance placed on maintaining good health and long-term beauty, especially among women, is creating a demand for nutricosmetics in the market studied. The growing desire of consumers to prevent premature aging or delay aging is boosting the demand for collagen-infused supplements, as they stimulate the production of fresh collagen and help deliver firmer and plump skin. Also, consumer demand for organic and natural-based supplements is increasing due to rising awareness about synthetic and chemical supplements. Owing to this, market players are launching vegan supplements in the market. For instance, in November 2022, Zeni London launched Beauty Glow Vegan Collagen powder. The product claims to provide 18 amino acids and improve skin texture and appearance. Over the medium term, the demand for nutricosmetics is expected to increase owing to the increasing demand for Preventive healthcare and wellness trend.
United Kingdom Holds the Largest Share of Market
The United Kingdom is one of the largest markets for nutricosmetics in Europe, as the demand for beauty and health supplements is increasing. Consumers' interests are inclined toward purchasing skincare products containing nutrients, including vitamin A, vitamin D, and omega-3 fatty acids, which have been linked to supporting skin health, offering manufacturers many opportunities to innovate. The demand for vitamin supplements is increasing in the country as vitamin supplements provide overall skin health. With high product awareness among consumers, the market players are launching new and innovative products in the market. For instance, in July 2022, Wellness mega-influencer Sommer Ray launched the first PETA-accredited 'beauty from within' ingestible plant-based beauty brand, IMARAÏS Beauty, into the United Kingdom market. According to the company claim, the brand consists of the hero product, Glow skincare gummies, and Nourish gummies for hair and scalp.
Europe Nutricosmetics Industry Overview
The Europe nutricosmetics market is fragmented, with several players competing to achieve a significant share of the market. The key players in the nutricosmetics market are Herbalife International of America, Inc., Pfizer Limited, and Lonza Group Ltd., Reckitt Benckiser Group plc, and Amway Corporation. The market players are focusing on product launches, acquisitions, partnerships, and expansions to cater to the growing demand for nutritcosmetics in the region. The companies are also investing in its research and development department to innovate new products with functional ingredients in.
Europe Nutricosmetics Market Leaders
Herbalife International of America, Inc.
Pfizer Limited
Lonza Group Ltd.
Reckitt Benckiser Group plc
Amway Corporation
- *Disclaimer: Major Players sorted in no particular order
Europe Nutricosmetics Market News
- In June 2023, Rapid Nutrition PLC announced the release of its new look and brand identity for the SystemLS weight loss products. The company also claims that it unveiled the new brand identity for the flagship SystemLS Weight Loss Brand as the product continues international expansion.
- In May 2023, Ouai launched new vegan hair supplements. The products are claimed to strengthen hair. The supplements are rich in ingredients like pea sprout extract, biotin, and a multivitamin complex. The supplements are claimed to design to reduce hair shedding.
- In April 2022, Shiseido launched a new cosmetic brand Ule in France. The brand provides different healthy skin care products including skincare supplements. The products are claimed to be natural and organic and are available on e-commerce sites as well.
