LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global beauty drinks market to grow at a CAGR of over 11% during the forecast period, according to their latest market research report.
The growing popularity of beauty drinks among millennials is one of the major trends being witnessed in the global beauty drinks market 2018-2022. The growing demand for beauty drinks is attributable to a drastic shift in the lifestyle of consumers worldwide. The needs and aspirations of aging consumers around the world are changing as indicated by a growing demand for targeted solutions to improve and beautify external appearance. In this aspect, the millennial population worldwide has emerged as a significant demographic cohort that has specific health and wellness needs which revolve around stress management and maintenance of external appearance. Therefore, consumers from the millennial generation are looking forward to beverages with strong nutritional profiles that cater to their specific health needs. Millennials are also scouting for less time-consuming, effective, and effortless ways of gaining flawless skin. Therefore, with such factors boosting growth, the market is expected to show a positive outlook during the forecast period.
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According to Technavio analysts, one of the key factors contributing to the growth of the global beauty drinks market is the growing prevalence of premature aging:
Global beauty drinks market: Growing prevalence of premature aging
A majority of the urban or the city dwellers are exposed to various air pollutants and toxic elements that accelerate aging spots and wrinkles. The harmful airborne toxic chemicals include particulate matter, diesel exhaust, and ultrafine dust, which enters the skin and produces destructive reactive oxygen species (ROS) to accelerate the aging process.
Another major factor behind premature aging is the unhealthy lifestyle choices of urban dwellers who are hard-pressed for time. Therefore, consumers have begun seeking anti-aging solutions that will help them combat the signs of premature aging. The primary role of any beauty drink is to control and slow down the process of premature or natural aging. Thus, all these factors will drive the growth of the global beauty drinks market during the forecast period.
According to a senior analyst at Technavio for research on non-alcoholic beverages, “The beauty sector is a flourishing sector in the fast-moving consumer goods industry. Consumers are consciously adopting a clean, vegan, and ethical lifestyle. Also, increasing income levels have created a desire to look good and enhance their beauty. The growing and aging population in Asia and Europe is another prime reason for the growing need for beauty and grooming products.”
Global beauty drinks market: Segmentation analysis
The global beauty drinks market research report provides market segmentation by product (collagen protein, vitamins and minerals, and fruit extracts), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The EMEA region held the largest share of the market in 2017, accounting for over 40%, followed by the Americas and APAC respectively. However, during the forecast period, the Americas is expected to show the highest incremental growth followed by the APAC region.
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