Food Additives and Nutricosmetics Market - Global Industry Insights, Trends, and Opportunity Analysis, 2016–2024

Additives are substances that are added to end food items to enhance its taste, flavor, appearance and the overall quality as a whole. Additives that help in increased shelf life or a finished food item is known as food preservatives. Nutricosmetics are additives that act as nutritional supplements to support the structure and function of the skin. Formulation of products that nullifies skin aging, condition-specific products that tackle psoriasis and acne problems, products that offer both beauty and health and focusing on collagen are among the new trends in the market. Collagen can be abundantly found in the skin and lack of it in the skin can cause wrinkles. Consumption of nutricosmetics can solve skin issues and can help in having firm skin. For example Sederma, a France-based nutricosmetics manufacturer, has introduced Matrixyl 3000, a collagen nutricosmetics that helps in developing smooth skin.

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Food Additives and Nutricosmetics Market Taxonomy

On the basis of product type, the global market is segmented into:

Flavors and Enhancers

Colorants

Enzymes

Sweeteners

Emulsifiers

Fat Replacers

Food Preservatives

Others

On the basis of source, the global market is segmented into:

Natural

Synthetic

On the basis of geography, the global market is segmented into:

North America

U.S.

Canada

Europe

U.K.

Germany

Italy

France

Spain

Russia

Rest of Europe

Asia Pacific

China

India

Japan

ASEAN

Australia

South Korea

Rest of Asia Pacific

Latin America

Brazil

Mexico

Argentina

Rest of Latin America

Middle East

GCC Countries

Israel

Rest of Middle East

Africa

Northern Africa

Central Africa

South Africa

The major factors driving the global food additives and nutricosmetics market are growing concerns regarding skin aging, trend towards “beauty from within”, growing demand from ready to consume food items and growing retail industry in emerging economies. Growing consumer preference towards natural additives is expected to further boost growth of the global food additives and nutricosmetics industry over the forecast period.

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Food Additives and Nutricosmetics Market Outlook – Growing Demand for Processed Food Coupled With Busy Lifestyle Is Fueling Market Growth

Growing demand for processed food, mainly due to the busy lifestyle is anticipated to drive the growth of food additives and nutricosmetics market during the forecast period. Growing preference towards processed and packaged food to cut down the cooking hours is helping the food additives is expected to drive the market. In addition growing retail industry in emerging economies and popularity of processed food among the younger generation is also boosting growth of the market for processed food, which in turn is projected to drive growth of the food additives market. According to a study conducted by Coherent Market Insights, the market for processed food is projected to reach US$ 88.2 billion by 2024. This growing market for processed food is expected to fuel growth of additives, as additives are added to the processed food to enhance its overall quality, taste and shelf life. Alongside the food additives, there is a growing preference towards nutricosmetics as well mainly to cut down the grooming hours. Nutricosmetics can be swallowed whereas normal cosmetics and personal care products need to be applied in a proper way and takes a lot of time. Due to the busy lifestyle of office and college goers the demand for nutricosmetics is increasing at a steady pace. Asia Pacific is expected to be the fastest growing region for the global market, mainly due to increasing number of women in the work force and a large share of the population falling in the age bracket of 18 to 40.

Food Additives and Nutricosmetics Market Challenges – Stringent Government Rules and Regulations

Stringent regulatory scenario regarding use of additives and nutricosmetics due to its negative health impact is a challenge for growth of the global market in food additives and nutricosmetics. Various authorities across the globe regulate usage of additives. Food additives are associated with a number of health issues such as cancer, hyperactivity, and heart issues. The U.S. Food & Drug Administration (FDA) implemented certain guidelines for usage of additives in food and nutrients. Countries such as Finland, Norway, Austria, U.K. and France have banned synthetic food additives, while the U.K. and Canada have banned usage of Olestra (a food additive). This inhibits growth of the food additives and nutricosmetics market to a certain extent.

Consumers are increasingly inclined towards personal grooming and given their busy lifestyle, this increases their inclination towards consuming a pill or a unit of liquid as nutricosmetics, which can have the same impact on grooming and beautification as compared to lotions, creams and gels. This is a major factor that is expected to fuel market growth over the foreseeable future.

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Some of the major companies operating in the global food additives and nutricosmetics market are Ajinomoto Co., Inc., Associated British Foods plc, BASF SE, Chr Hansen A/S, Lucas Meyer Cosmetics S.A.S, Pfizer Inc, Croda International Plc and Frutarom Ltd.

 

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