Anti-ageing and anti-hair loss products are invigorating the nutricosmetics market, as Patricia Mansfield-Devine discovers
The global market for nutraceuticals is continuing to grow and the outlook remains positive, according to the major market researchers. One of the key market drivers, noted by a number of analysts, including Datamonitor, Mintel, TechNavio, Transparency, Global Industry Analysts and Research & Markets, all of which have produced reports on the sector, is the rising global ageing population, resulting in an increase in demand for anti-ageing and anti-hair loss nutricosmetics.
TechNavio forecasts a global CAGR of 9.76% over the period 2013-18, while Datamonitor, in its October 2013 report The Future of Nutricosmetics, is even more positive, predicting a growth rate of 10%-12% per year to reach US$5bn-$6bn by 2018.
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