The South America nutricosmetics market is anticipated to grow at a CAGR of 4.52% for the forecast period 2020-2025.
- The market is expected to witness strong growth, owing to increasing awareness among consumers about the health benefits of nutricosmetics particularly in the anti-aging products, which is driving the South American market forward. The expanding retail landscape and establishments of several distribution modes, has augmented the growth of the nutricosmetics market in the region.
- Consumers in South America have a greater understanding of the relationship between diet and health, which is fueling the growth in the industry. Besides, increasing purchasing power of the middle-class population is triggering the growth of the nutricosmetics market.
Key Market Trends
Indulgence Towards Natural, Fast and Effective Cosmetics Products
With the goal of promoting beauty from the inside out in many of the South American countries such as Brazil, Colombia and others, nutricosmetics, presented in the form of gelatin capsules or juice and soup blends, differ from other products due to its oral use rather than topical and are therefore gaining importance in the country. They claim to contain active ingredients including amino acids, vitamins, and proteins that are released in the digestive system, resulting in visible aesthetic benefits, therefore the so-called “beauty pills”.
Therefore this factor is driving the nutricosmetics market further due to its instant, effective characteristics seen on the body. In addition to preventing skin aging and strengthening the hair, nutricosmetics offer holistic health benefits, contributing to a better quality of life and overall wellbeing
Growing Demand of Nutricosmetics in Brazil
As Brazil is one of the world’s largest consumers of cosmetics, Brazil’s ever-maturing population continues to search for natural ingredients and for healthier lifestyles. Nutricosmetics appear as a potential market to be explored, therefore Brazilians have started to see nutricosmetics as an extension of traditional treatments. Thereby, considering this fact, many of the Brazilian nutricosmetics companies are launching various nutricosmetics products in the country.
For instance, Extratos da Terra (Earth Extracts Cosmetics Industry) has included nutricosmetics in its anti-acne line Dermosoft, launching Acne-in. According to the brand, when used in combination with other products of the same line such as their cleansing foam and the spot treatment serum - the capsules inhibit the inflammatory process, control the bacteria that cause acne and help with the healing of the skin.
Some of the major players offering their nutricosmetics in the South American market are Beiersdorf AG, Herbalife International of America, Inc., NATURA &CO, and Dermage. The strategic positioning of the products by the companies in the market, coupled with a varied product portfolio, is likely to drive this competitive market.
For instance, companies such as Dermage is planning to increase its products offering of their cosmeceuticals during the year 2020 in Brazil, following the international trend. However, the market space for nutricosmetics, particularly weight management, is expected to further depend on marketing and proper product visibility in retail channels, such as supermarkets/hypermarkets, convenience stores, etc.
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