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.
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).
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BASF SE dominated the skin health foods market in 2020. The company's leading position can be attributed to its comprehensive suite of products such as carotenoids, plant-sterols, vitamins and omega-3 fatty acids used for skin health and human nutrition in bakery products, snacks, confectionery products, meat analogs, and beverages. Its high focus on R&D enables the company to rapidly innovate and develop products that suit the current market demands. The company has a wide geographical presence encompassing the Americas, Europe, the Middle East, Africa, and the Asia Pacific.
Archer Daniels Midland Company is the second-largest player in the skin health foods market. It offers a wide range of natural health, and nutrition products, including probiotics, prebiotics, enzymes, and botanical extracts, and other specialty food and feed ingredients. The company offers a variety of products from nature, including plant-based proteins. The company has a strong network encompassing numerous subsidiaries in more than 70 countries such as UK, Germany, US, Brazil, the Netherlands, Spain, and Australia.
Skin Health/ Dermatology Functional 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
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