The beauty supplements market provides vitamins and minerals orally with the aim of enhancing skin, hair, and nail appearance. Beauty supplements contain antioxidants, peptides, anti-aging formulas and other ingredients that promote youthful and healthy looking skin from within. They are available in the form of tablets, capsules, powder, liquids and edible films. The rising demand for dietary supplements to treat beauty concerns without harmful surgeries or procedures is fueling the growth of the beauty supplements industry.
The Global beauty supplements market is estimated to be valued at US$ 3252.27 Bn in 2024 and is expected to exhibit a CAGR of 8.8% over the forecast period of 2024 to 2030.
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 companies are focusing on new product launches, mergers, acquisitions and geographic expansion to gain a major market share. Growth opportunities lie in personalized formulations, natural ingredients and multi-benefits products. The market is witnessing increased participation from emerging economies in Asia Pacific and Latin America due to rising disposable incomes and exposure to Western beauty trends through social media.
Market Drivers
One of the key drivers for the beauty supplements market is the growing concerns regarding anti-aging. As the effects of aging such as wrinkles, dark spots, and loss of firmness have become a matter of concern, demand for dietary supplements that nourish skin from within has increased significantly. This is anticipated to fuel market revenues over the forecast period. Another major factor driving the demand is increasing awareness about nutritional deficiencies and their impact on skin, hair and nails. The inclination towards minimally invasive treatments and preventive healthcare adoption will continue pushing market growth in coming years.
Market Restrains
High costs of branded premium supplements and lack of conclusive scientific evidence is hampering the mass adoption of beauty supplements. Also, varying regulatory structure poses challenges for multi-national companies. Furthermore, safety concerns over excess dosage and interaction with medications can negatively impact the market expansion. Counterfeit products eroding brand value pose another restrain. Strong investment in clinical research and affordable options will help address these concerns.
Segment Analysis
The global Beauty Supplements Market Growth can be segmented based on ingredient, form and application. Based on ingredient, the market is dominated by vitamins and minerals sub segment as these ingredients hold key benefits such as anti-aging properties, skin protection etc. With growing consumer awareness about nutritional benefits of these ingredients, the vitamins and minerals sub segment is likely to continue its dominance in coming years.
By form, the capsules and tablets together comprise major share as they are easy to consume and have long shelf life. The capsules and tablets segment is expected to retain its leading position with changing consumer preferences towards convenient supplement forms.
In terms of application, skin care holds dominating share as beauty supplements effectively treat various skin conditions and improve skin health. Rising consciousness about youthful appearance and anti-aging benefits has propelled growth of skin care application segment.
Global Analysis
North America represents largest regional market for beauty supplements globally. Rising consumer spending on personal care products along with increasing prevalence of lifestyle diseases has augmented demand in the region. Availability of wide range of supplements catering to specific needs of consumers further support market expansion. Asia Pacific market is estimated to witness fastest growth and emerge as most lucrative regional market by 2030. Rapid economic development, growing middle class and their increased willingness to spend on premium beauty products are major factors driving APAC beauty supplements industry. With rising health and wellness trends, Latin America and Middle East & Africa markets also offer lucrative prospects for stakeholders.
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