Wellness Franchise Opportunities

Wellness IndustryMar, 20 2017

Emergence of Indian Nutricosmetics market witnessed

Nutricosmetics ingredients, comprising anti-oxidants and specific carotenoids are a rapidly growing category within the industry and offers huge promise in the immediate future.

By Tanvi Jetly

In this fast growing world, no one has the time to give themselves the much needed efforts and care. We all are so busy with our schedules that we always forget to give attention which our bodies need. Humans have been inventing and found out multiple ways to cover the lack of love our body gets. Nutricosmetics is the new way of looking after the needs of the skin, even when we are super busy with our lives.

The Nutricosmetics market is emerging and people are seeing potential in it. They are nutritional supplements which has the purpose of supporting the function and the structure of the skin. Evolved from the words – nutraceuticals and cosmeceuticals – nutraceuticals provide the nutrients which are important for our skin to glow and look healthy from within. With the nutritional supplements, needs of hair, skin and nails can be met and the effect seen on them is very much visible.

Nutricosmetics ingredients, comprising anti-oxidants and specific carotenoids are a rapidly growing category within the industry and offers huge promise in the immediate future. With new components and ingredients, they are available in categories like pills, jellies, capsules, tablets and drinks. Consumers have a lot of options to choose from as there are many products when it comes to nutricosmetics.

‘Nutricosmetics: A Global Strategic Business Report’ by Global Industry Analysts (GIA) predicts that the global Nutricosmetics market will reach $4.24 Billion by 2017. If we look towards the developed countries in respect to the Nutricosmetics market, Europe which is driven by anti-aging concerns constitutes the single largest market worldwide. Japan is a highly developed and mature Nutricosmetics market whereas the US market, though still in the early stages of development, displays great potential for future development and is forecast to expand at a high CAGR of over 14% through 2017 according to GIA.

Nutricosmetics is the latest food trend that is gaining popularity worldwide. This is due to the fact that consumers now desire to go beyond conventional beauty salons and want to try something new. In context to Indian Nutricosmetics market, India is set to grow rapidly in the coming years. There is substantial growth opportunity for manufacturers in this market and it is meant to flourish well too. From anti ageing products, nails, skin and hair products, weight reduction, beauty drinks and a lot more, India can have a potential growth as there are many new ventures and options to explore in this market.

In India, alternative medicine is well accepted and corporate like Dabur and Baidyanath have been successfully marketing a number of products. Indian market potential is huge and considering the possibility of exporting some of the native products, scope exists for new entrants into this area. Many Indian names have ventured in this industry and are doing really good. Big names like Ranbaxy Lab, Sannis Lab, Dabur, Amway etc have seen growth in their success charts from this industry. Other companies worldwide which are growing in the nutricosmetics sector are Sederna Inc., Vitabiotics Ltd., Laboratoire Biocycte, Windmill Organics Ltd. etc

The Nutricosmetics market in India is, no doubt, growing rapidly and it will be fully developed in years to come. In order to give competition to Europe and other developed markets in this industry, it has to still work a lot, but many companies have established a good name in this market and many more will follow the same steps.

Related: Key factors encouraging big spenders to splurge on luxury beauty brands

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