The global skin health foods (dermatology functional foods) market during the forecast period is projected to be USD 2,651.5million by 2026 from USD 1,929.5million in 2021, at a CAGR of 6.6%. Growth in this market is majorly driven by thehigh incidence of allergic diseases, growth in health awareness among consumers, increasing R&D and production capacity for functional food and beverage products, and increasing consumption of nutrient-enriched foods to improve overall health. However, during the forecast periodthe restrain to the growth of this market are the increasing incidence of allergies and intolerance related to some functional ingredients and higher cost of functional food products due to the inclusion of healthier or naturally sourced ingredients.
“Skin Conditions was the largest segment in by indication of skin health foods market in 2020”
Skin conditions accounted for the largest share of skin health foods market in 2020. Changes in nutritional status that alter skin structure and function can directly affect skin appearance. This, along with the increasing awareness of consumers with respect to nutraceuticals and functional foods, is expected to drive the market growth for this segment during the forecast period.
“APAC to witness the highest growth rate during the forecast period.”
The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. Market growth in the APAC region is mainly driven bythe increasing R&D expenditure by local and international companies in functional food products, a larger pool of patients with chronic skin hypersensitivity conditions, and increasing GDP in several APAC countries.The growing awareness about the health benefits of functional foods in these countries has increased the demand for skin health food products.
Key players in theSkin Health Foods Market
The key players operating in the skin health foods market includeBASF SE (Germany), Archer Daniels Midland Company (US), DuPont (US), Cargill, Incorporated (US), Danone SA (France), Arla Foods (Denmark), Nestle SA (Switzerland), Koninklijke DSM N.V. (Netherlands), Glanbia PLC (Ireland), Herbalife Nutrition Ltd. (US) and Amway (US).
The report analyzes the skin health foods market and aims at estimating the market size and future growth potential of various market segments, based on indication, and region. The report also provides a competitive analysis of the key players operating in this market, along with their company profiles, product offerings, recent developments, and key market strategies.
Reasons To Buy the Report
This report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share of the market. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their positions in the market.
This report provides insights on:
- Market Penetration:Comprehensive information on the product portfolios of the top players in the Skin Health Foods Market. The report analyzes this market by indication and region.
- Market Development:Comprehensive information on the lucrative emerging markets, indication, and region
- Market Diversification:Exhaustive information about the product portfolios, growing geographies, recent developments, and investments in the skin health foods market
- Competitive Assessment:In-depth assessment of market shares, growth strategies, product offerings, and capabilities of the leading players in the skin health foods market