|Status : Upcoming||Report Code : VRFB11010||Industry : Food & Beverage||Available Format :|
The skincare industry is the most flourishing industry globally due to the growing needs of consumers towards beauty regimes and skincare treatments. Beauty drinks are one such effort that is used for retaining natural beauty during the battle against aging. This drink contains all sorts of ingredients that help in taking care of skin such as amino acids, vitamins, antioxidants, and minerals. The growing need of consumers for anti-aging products and healthy drinks has increased the demand for global beauty drinks significantly.
In the present scenario, it is consumed for rejuvenating the skin, nails, and hair. The growing consciousness among teenagers and women in the age group of 20-35 is expected to drive the demand for the global beauty drinks market. Teenagers account for the largest market share that consumes this drink as they aspire to get flawless and beautiful skin. The evolving fashion industry is creating such aspirations among young girls to stay beautiful and updated and make them more presentable. The ingredients used in this drink comprises of high antioxidants, such as botanical extracts from fruits and other plants, minerals, and vitamins.
Insight by Ingredient
On the basis of ingredients, the beauty drinks market is categorized into vitamins and minerals, fruit extracts, coenzymes, collagen protein, and others. Of all ingredient types, collagen protein is expected to hold the largest market share during the forecast period (2023–2030), owing to its high demand from teenagers.
The primary factors aiding towards the growth of the global beauty drinks market include an increase in the number of health-conscious people, a busy lifestyle, and no side effects associated with this drink.
The beauty drinks are expected to have no side effects on the health of the consumers driving the demand for the beauty drinks market and increasing adoption of these drinks. The users not only in the early adopter stage but even the consumers in the early majority stage in the adoption process are using these drinks without hesitation as it is not harmful to the health of the user.
However, the product is not accessible to a large population is the major restraint observed in the growth of the beauty drinks market globally.
The young women population are busy in their lifestyle some are working or homemakers and cannot devote much time to taking care of their skin. These beauty-conscious consumers hold the major market share for this type of drink as it is considered to be a less time-consuming and effortless method to gain flawless skin. This, in turn, increases the growth of the global beauty drinks market.
The elderly population in established economies such as Europe and some parts of Asia-Pacific is acting as a facilitator for enhancing the growth of the beauty drinks market. The disposable income of people is increasing worldwide along with people becoming more health-conscious they are ready to invest in such drinks and as a result, it is creating new opportunities for this market to grow globally. Moreover, the high growth of functional drinks and beauty drink products for skin, anti-aging, and slimming and the benefits such as the existing brand image of key players is providing new expansion opportunities for food processing companies in coming years.
Globally, Europe held the largest share of the beauty drinks market in 2020. The youth of this region are highly conscious of their fitness and appearance, and the same trend is also being witnessed in the aging population is driving the growth of the European beauty drinks market. However, during the forecast period, the North American market is expected to witness the highest incremental growth followed by the Asia-Pacific region.
Some of the major players operating in the global beauty drinks industry are Asterism Healthcare Plus, Inc., Beatific - Beauty Lab, Hangzhou Nutrition, Juice Generation, Vemma Nutrition, AMC, The Coca-Cola Company, Zoppas Industries Group, Sappe Public Company Limited, Dydo DRINCO, INC., Big Quark LLC, and Nestlé S.A.