The cosmetics industry's latest hybrid, nutricosmetics, is seeing growth. According to a study by Kline & Company, nutricosmetics is valued at a US$1 billion industry and growing. The company estimates the cosmetic hybrid to show a double-digit growth in the next five years.
"In Japan, there are specialty stores and department store counters devoted solely to the sale of beauty supplements from companies like Shiseido, and nutricosmetics are widely available in pharmacies in Western Europe. But in North America, the concept is just gaining ground with newer brands like Borba," said industry manager of the consumer products practice for Kline's research division.
The company makes note of such nutricosmetic products as Imedeen and Inneov, an effort of both L'Oreal and Nestle. According to the study, the market for nutricosmetics in the United States is a vast and untapped market, offering numerous opportunities for those looking to break into the market.
"Competition[in nutricosmetics] is guaranteed to increase, and companies should try to gain an early advantage and position themselves as a market leader in North America to gain the best competitive advantage," said Susan Babinsky, senior vice president and head of Kline's consumer products consulting practice. Babinsky goes on to note that Intelligent Nutrients, is a company that is breaking onto the market for nutricosmetic in the United States.
Kline's study, Nutricosmetics 2006: Japan, United States, and Western Europe, according to the company, is a analysis of the nutricosmetics industry including an overview of key trends and market drivers, an examination of regulatory issues and reliable brand and category data including the top twenty brands marketing nutricosmetics. For more information, visit www.klinegroup.com or call 973-435-3412.