Supplements are usually taken in the form of pills, capsules, powder and liquid or in soft gel form. Beauty supplements are used to improve and support any kind of deficiency in the human body. In general, beauty supplements are a combination of minerals, vitamins, nutrition, proteins and other bioactive ingredients, which help improve the appearance of the human body.
The global beauty supplements market accounted for US$4,860.42 million in 2021 and is expected to reach US$10,999.96 million by 2030, growing at a CAGR of 4.5% between 2022 and 2030.
Growing awareness about the health benefits of beauty supplements is likely to drive the market in the coming years
The global beauty supplements market has been segmented based on applications in skin care, hair care, nail care, dental care and others (general health supplements). Changing lifestyles, increasing consumer incomes leading to an increase in supplement consumption and other related factors are driving global supplement sales. Among the aforementioned segments, skin care supplements are expected to dominate the market in terms of revenue; in 2020, the skin care segment accounted for the largest share of over 30% of the total beauty supplement market by value. The hair care and nail care segment is expected to experience strong growth during the forecast period. Increasing use coupled with strong emphasis on hair wellness and hair health among the female population attributed to the growth of the hair care segment.
The increasing penetration of e-commerce in both developed and developing countries is driving the demand for beauty supplements through online sales channels
Of the segments considered, pharmacy stores are expected to dominate the market in terms of revenue contribution, followed by beauty salons and supermarkets/hypermarkets. In addition, the pharmacy retail segment is expected to record a significant CAGR during the forecast period. Online shopping segment is expected to record the highest CAGR during the forecast period. This was attributed to increasing consumer inclination for convenience and manufacturers’ focus on online retail, intended to offer product variety along with the benefits of in-store shopping for consumers.
Europe dominates the global beauty supplement market and is expected to maintain its leading position in the coming years
In base year 2020, Europe was observed as the largest market for beauty supplements. In 2020, the total market for Europe exceeded 30% and is expected to maintain its dominance over the forecast period from 2022 to 2030. Western European countries are major contributors to the global beauty supplement market and are expected to boost the market due to the increasing concern of people about their appearance and outward prospects, along with higher consumer disposable income.
Asia Pacific is expected to register the highest growth rate compared to other regions due to the presence of developing countries such as China and India. Japan is expected to be the most prominent contributor in terms of revenue, followed by China and India with a combined market share of 36% in 2020 in the Asia-Pacific region.
Leading brands invest aggressively in research and development
The beauty supplement market is highly fragmented due to the presence of several large and small companies. Small businesses provide a handful of products; on the other hand, major players are undertaking extensive R&D programs to standardize their products. In this market, suppliers compete on product differentiation, price, promotion and distribution. Competition in the market is expected to increase, partly due to an increase in consumer awareness and product innovations. Leading manufacturers are constantly investing in research and development to develop new and innovative products.
- Supplements against aging and wrinkles
- Supplements for skin whitening, fairness and glow
- Other skin care supplements
- Hair care supplements
- Nail care supplements
- Dental care supplements
- Other supplements
- Department store
- Beauty outlets
- Pharmacy Store
- Online Store
- Others (health and personal care stores, etc.)
3. Beauty Supplements Market: Business Prospects and Market Dynamics
4. Beauty Supplements Market: By Product, 2020-2030, USD (Million)
5. Beauty Supplements Market: By Distribution Channel, 2020-2030, USD (Million)
6. North American Beauty Supplements Market, 2020-2030, USD (Million)
7. UK & Europe Beauty Supplements Market, 2020-2030, USD (Million)
8. Asia-Pacific Beauty Supplements Market, 2020-2030, USD (Million)
9. Latin American Beauty Supplements Market, 2020-2030, USD (Million)
10. Middle East & Africa Beauty Supplements Market, 2020-2030, USD (Million)
11. Company Profiles
- Beauty shovel
- HUM Nutrition Inc.
- IMEDEEN (Pfizer Inc.)
- Lifes2good Inc.
- Meiji Holdings Co.Ltd.
- Murad UK Ltd.
- NeoCell Corporation
- Reserveage Nutrition LLC
- Vitabiotics Ltd.
For more information on this report, please visit https://www.researchandmarkets.com/r/jknsk