The beauty supplements market comprises products that are consumed orally to improve beauty and appearance. These supplements contain vitamins, minerals, proteins, and other ingredients that help treat skin issues, hair fall, nail breakage, and premature aging. With rising aging population and increasing skin care awareness, people are opting for beauty supplements to keep their skin, hair, and nails healthy naturally. Hectic lifestyles and changing dietary patterns have also resulted in nutritional deficiencies, prompting the adoption of dietary supplements. Some major products in the market include collagen supplements improving skin elasticity and glow, biotin supplements treating brittle nails and hair loss, and antioxidants such as vitamins A, C, and E shielding the skin from damage.
The global beauty supplements market is estimated to be valued at US$ 3,252.27 billion in 2024 and is expected to exhibit a CAGR of 8.8% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the beauty supplements market are Presto Geosystems, Polymer Group Inc., Strata Systems Inc., Armtec Infrastructure Inc., Maccaferri SPA, PRS Mediterranean Ltd., Maccaferri SPA, and Tensar International Ltd. These players are focusing on new product launches and exploring untapped markets to gain a competitive advantage.
The key opportunities in the Beauty Supplements Market Demand include innovations in delivery systems and formulations, targeting new consumer segments, and expanding into emerging regions. For instance, the launch of beauty supplements featuring natural active ingredients, vegan options, and convenient delivery forms like gummies and shots are gaining traction. Moreover, greater penetration in Asia Pacific and Latin American countries presents lucrative growth prospects.
Global expansion is another prominent strategy adopted by leading beauty supplement manufacturers. Establishing production and distribution networks across international markets helps enlarge the customer base and revenues. Partnerships with regional distributors and retailers further aid global market penetration. Growing health and wellness trends worldwide are conducive for the worldwide proliferation of beauty supplements.
Market Drivers
Rising consumer awareness about the benefits of oral beauty supplements in complementing skincare routines is a key driver for market growth. With growing transparency about ingredient sourcing and formulations, consumers increasingly trust supplements.
Change in lifestyle and diet patterns has led to various deficiency issues like premature aging, thinning hair and brittle nails. This provides an opportunity for beauty supplements that deliver targeted beauty nutrients to fulfill dietary gaps.
Market Restrain
Stringent regulatory frameworks and approval process for new product launches delay time to market for supplements. This somewhat challenges innovation and quick adoption of new active ingredients.
Side effects from excessive intake or consumption of supplements with drug interactions pose health risks. This questions the safety of some formulations and impacts consumer confidence in certain segments.
Segment Analysis
The global beauty supplements market can be segmented into skin care, hair care, mouthwashes, dentifrices, and sun protection based on application. The skin care segment dominates the market and is expected to continue dominating over the forecast period. This is because regular intake of beauty supplements helps in maintaining healthy and clear skin by improving collagen production, reducing acne and pimples, delaying skin aging, and improving skin elasticity.
Global Analysis
The North America region dominates the global beauty supplements market currently and is expected to continue dominating over the forecast period. This is attributed to the growing popularity of beauty supplements among people of all age groups in the region. There is an increasing focus on using natural and organic ingredients-based supplements to obtain skin, hair, nails, and overall beauty benefits. The Asia Pacific region is expected to be the fastest growing market for beauty supplements during the forecast period. This is due to the improving spending power, increasing working women population focusing on beauty and health, rising prevalence of lifestyle diseases, and growing awareness about beauty supplements and their benefits in countries like India and China in the region.
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