According to the new market research report “Skin Health Foods Market by Indication (Skin Conditions, Anti-Aging, Anti-Allergy), Region (North America, Europe, Asia Pacific, Rest of the World), Regulatory Landscape, Pricing Analysis, COVID-19 Impact – Global Forecast to 2026″, published by MarketsandMarkets™, the global Skin Health Foods Market / Dermatology Functional Foods Market is projected to reach USD 2,651.5 million by 2026 at a GAGR of 6.6% from USD 1,929.5 million in 2021, during the forecast period.
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The major growth drivers for this dermatology functional foods market are the growth in health awareness among consumers, increasing R&D and production capacity for functional food and beverage products, increasing consumption of nutrient-enriched foods to improve overall health, and high incidence of allergic diseases. However, the expected restrain to the growth of this market during the forecast period are the higher cost of functional food products due to the inclusion of healthier or naturally sourced ingredients and increasing incidence of allergies and intolerance related to some functional ingredients. The base year considered for the study is 2020, while, the forecast period is 2021 to 2026.
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.
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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.
Some of the prominent players in this dermatology functional foods market are BASF 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).
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