The skin health foods (dermatology functional foods) market is projected to reach USD 2,651.5 million by 2026 from USD 1,929.5 million in 2021, at a CAGR of 6.6% during the forecast period. Growth in this market is largely driven by the increasing consumption of nutrient-enriched foods to improve overall health, high incidence of allergic diseases, growth in health awareness among consumers, and increasing R&D and production capacity for functional food and beverage products. Moreover, untapped emerging markets in developing countries are creating lucrative opportunities for the market players. The skin health foods market is segmented into indication like skin conditions, anti-aging and anti-allergy.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=200484719
Browse in-depth TOC on "Skin Health Foods Market”
48 – Tables
30 – Figures
125 – Pages
The global skin health foods market is consolidated with the presence of many regional and global players like BASF SE (Germany), Archer Daniels Midland Company (US), DuPont (US), Cargill, Incorporated (US), and Danone SA (France) are the major players in this market. These companies are majorly focusing on the strategies such as acquisitions, joint ventures, collaborations, partnerships, and product launches in order to remain competitive and further increase their share in the market. Some of the other prominent players in the market are Arla Foods (Denmark), Nestle SA (Switzerland), Koninklijke DSM N.V. (Netherlands), Glanbia PLC (Ireland), Herbalife Nutrition Ltd. (US), and Amway (US).
Inquiry Before Buying @
Drivers: Increasing R&D and manufacturing capacity for functional food and beverages
The rapidly growing demand for functional food ingredients such as prebiotics, probiotics, vitamins, minerals, phytochemicals, plant extracts, and omega-3 fatty acids is drawing the attention of global functional food ingredient manufacturers, who are making significant investments in the sector. Manufacturers are developing functional confectioneries such as gummies and toffees for children, nutrition bars, and functional drinks that attract fitness enthusiasts and consumers looking for quick nutrition.
Consumers are increasingly becoming aware of their digestive health, driving innovation in probiotic product offerings. Prebiotics and probiotics are the emerging functional food ingredient segments in which researchers are focusing on developing different applications and benefits. Researchers from the National University of Singapore have created probiotic-infused beer; this beer is considered good for gut health. Many such applications are expected to emerge as R&D investments increase, driving the market for functional food ingredients.
Restraints: Higher cost of functional food products due to the inclusion of healthier or naturally sourced ingredients
The development and commerce aspects of functional food ingredients are complex, expensive, and uncertain. Factors behind the success of product development are technological conditions, consumer demand, and legislative and regulatory background. Significant investment is required for the R&D of a strain that will be used to produce new functional ingredients such as probiotics. Probiotic strains and products are developed and produced in accordance with international food regulations. Also, highly sterile and technical equipment and processes are required for the manufacturing and extraction of various other functional ingredients. As a result of the high cost of production, the price of the final product is also high. Marketing and distribution further add to the product price. Although consumers are aware of the health benefits derived from these expensive functional food ingredients, their high prices restrict them from buying the product. The intensity of the factor further increases in developing countries that have a price-sensitive consumer base, especially in some Asian and African countries.
By indication, the skin conditions segment accounted for the largest share of the skin health foods market in 2020.
On the basis of indication, the skin conditions segment accounted for the largest share. Nutritional factors namely, small peptides, minerals, vitamins, macronutrients, and micronutrients work together to maintain skin barrier functions, changes in nutritional status that alter skin structure and function can directly affect skin appearance and the increasing awareness of consumers with respect to nutraceuticals and functional foods, are expected to mainly drive the market growth for this skin conditions segment.
North America dominated the skin health foods market in 2020
North America accounted for the largest share of the skin health foods market in 2020, followed by Europe and Asia Pacific. The rising awareness of the benefits of functional foods in improving skin health, is responsible for the large share of North America in the skin health foods market.
View detailed Table of Content here@
- In 2021, Grupo Arcor and Ingredion Incorporated (US) began a joint venture to broaden food & beverage ingredient offerings to customers in Argentina, Chile, and Uruguay.
- In 2021, Archer Daniels Midland Company (US) acquired Sojaprotein, a leading European provider of non-GMO soy ingredients, representing a significant expansion of ADM’s global alternative protein capabilities to meet the growing demand for plant-based foods and beverages.
- In 2021, IFF completely merged with DuPont’s Nutrition & Biosciences(US) business. The combined company will operate under the name IFF.
- In 2021, Archer Daniels Midland Company (US) announced a new soy crushing facility in North Dakota to meet the increasing demand for renewable products. it would be the first-ever dedicated soybean crushing plant and refinery to meet fast-growing demand from food, feed, industrial and biofuel customers, including renewable diesel producers.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com/