The global Beauty Supplements market value is anticipated to reach US$9.7 billion by 2028. The growing adoption of beauty supplements along with rising consumer inclination towards beauty and health are the key factors for market growth. Alchemy Research and Analytics LLP provided this information in a recently published report, titled, “Beauty Supplement Market Size, Share & COVID-19 Impact Analysis, By Form (Tablets, Capsules, Powder, Oils and others), By Application (Skin Care, Hair Care, Nail Care, Teeth Care and others), By Distribution channel(Hypermarkets/Supermarkets, Specialty Stores, Online Stores, Medical Stores/Pharmacy, and others), By Region(North America, South America, Asia Pacific, Europe, and the Middle East & Africa) and Regional Forecast, 2020-2028.” The report further mentions that the market size stood at US$4.9 billion in 2019, and it is likely to exhibit a CAGR of 8.9% throughout the forecast period 2020 to 2028.
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The Increased Prevalence towards Beauty Supplement
As per Alchemy Research and Analytics LLP, the Beauty Supplement market is primarily driven by increased prevalence towards beauty products along with the rising inclination towards beauty and health among individuals. The health benefits correlated with the consumption of beauty supplements are reduction in signs of aging and improving cardio & heart health which are estimated to support the market growth in the upcoming years.
Moreover, the growing individual focus towards their beauty and health along with rising awareness of beauty supplements are some other major factors projected to drive the beauty supplement market growth over the forecast period.
Increasing Demand for Beauty Supplement
Consumers rising concern towards their appearance, looks, health issues, changing lifestyles, and rising disposable income are some other key factors for the growing demand of beauty supplements market. The vogue of beauty supplements amongst females and males has also positively affected the beauty supplement market. Intake of vitamins through traditional food becomes difficult with increasing age which is anticipated to contribute to the demand for nutrient fulfillment through vitamins and supplements including nutri advanced multi-vitamin tablets, multi essentials for women’s, and others.
Key Manufacturers Aim to Enhance Their Portfolios by Product Launches
According to Alchemy Research and Analytics LLP major market players in the beauty, supplement market is focusing on strategies such as partnerships, collaboration, mergers & acquisitions, geographic expansions, R& D and product and flavor differentiation. The beauty supplement market is consolidated in nature owing to the presence of less number of market players.
By Product (Revenue in USD Million)
- Vitamins
- Minerals
- Enzymes
- Botanicals
- Proteins
- Omega 3
- Probiotics
By Form (Revenue in USD Million)
- Tablets
- Capsules
- Powder
- Oils
- Others
By Application (Revenue in USD Million)
- Skin Care
- Hair Care
- Nail Care
- Teeth Care
- Others
Distribution Channel (Revenue in USD Million)
- Hypermarkets/Supermarkets
- Specialty Stores
- Online Stores
- Medical Stores/ Pharmacy
- Others
Age Group (Revenue in USD Million)
- Age 15-30
- Age 31-50
- Age 51-70
- Above 70 Years
Alchemy Market Research lists out the names of key market players in the Beauty Supplement market. They are as follows:
- Amway
- Asahi Group Holding, Ltd.
- HUM Nutrition
- Pfizer Inc.
- Meiji Holding Co., Ltd.
- Everest NeoCell LLC
- Reserveage Nutrition
- Vitabiotics Ltd.
- The Boots Company PLC
- Murad Europe Ltd.
- Garden Of Life(Nestle)
A Significant Industry Development-
In October 2019, HUM Nutrition, a wellness brand the leader in the beauty vitamin and supplement category, launches its latest revolutionary product, MIGHTY NIGHTY, to raise skin cell renewal during sleep. HUM Nutrition widely recognized for innovative products rooted in science, focuses its latest efforts on sleep- the most important time for skin, the body’s largest organ, to regenerate.
Further Report Findings-
Europe was expected as the largest market for beauty supplements. The total market for Europe was more than 30% and expected to maintain its dominance in the forecast period from 2020- to 2028. The major contributor in the global beauty supplements market are Western Europe countries including the U.K., Germany, and others. The rising apprehensions toward their appearance and external outlook along with higher disposable income possessed by the customers.
The Asia Pacific is expected to grow at a rapid pace in the years to come owing to growing demand for beauty supplements in the developing economies such as China & India. Japan awaited to be the most prominent contributor in terms of revenue in the Asia Pacific beauty supplements market in 2019.
Based on the distribution channel, the beauty supplements market is led by chemist/pharmacies category owing to huge penetration of these stores in the urban as well as rural areas across the globe.
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About Alchemy Market Research
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