Beauty Supplements Market Forecasts to 2030 – Global Analysis By Form (Tablets, Capsules, Oils, Powder and Other Forms), Distribution Channel (Hypermarkets/Supermarkets, Online Stores, Medical Stores/Pharmacy, Specialty Stores and Other Distribution Chann

Beauty Supplements Market Forecasts to 2030 – Global Analysis By Form (Tablets, Capsules, Oils, Powder and Other Forms), Distribution Channel (Hypermarkets/Supermarkets, Online Stores, Medical Stores/Pharmacy, Specialty Stores and Other Distribution Channels), Application and By Geography

According to Stratistics MRC, the Global Beauty Supplements Market is accounted for $2.9 billion in 2023 and is expected to reach $4.6 billion by 2030 growing at a CAGR of 6.6% during the forecast period. Beauty supplements are dietary supplements created to improve and support multiple aspects of beauty, such as healthy skin, hair development, and strong nails. Usually, they include a blend of vitamins, minerals, antioxidants, and other healthy elements. These supplements work to improve overall attractiveness and well-being from the inside out by giving the body critical nutrients that may be missing from one's usual diet. Beauty supplements are thought to work in conjunction with conventional exterior beauty procedures and help people keep a vibrant, youthful appearance, but they are not a replacement for a healthy lifestyle and skincare regimen.

Market Dynamics

Driver

Increase in awareness and focus on personal appearance

An increased interest in beauty supplements made from natural and organic sources is a result of the rising popularity of wellness and natural beauty trends. There is an increase in demand for beauty supplements as a way to improve physical appearance. Moreover, consumers are becoming more aware of the connection between inner beauty and exterior attractiveness. Beauty supplements are viewed as a way to improve general health and address particular aesthetic issues, including skin aging, hair loss, and nail health. Therefore, these factors help in propelling the market growth.

Restraint

High expenses with side effects

Beauty supplements can be pricey; particularly those made with premium components or promoted as high-end goods. Furthermore, the market's potential may be constrained by consumer price sensitivity, particularly in price-conscious sectors, some beauty products may have negative side effects or trigger allergic responses in some people. Hence, this may result in dissatisfied clients, product recalls, and brand reputation damage which initially hampers the size of the market.

Opportunity

New advancements and influencers

The development of ingredient science has advanced in the field of beauty supplements. As a result, new and potent compounds, including collagen peptides, antioxidants, vitamins, and minerals, have been created, each of which is thought to enhance a certain component of beauty. Moreover, the popularity of beauty supplements is significantly influenced by the advertisements and promotions made by celebrities and social media influencers. Their followers are made aware of them and become interested in them through their recommendations and opinions. Thus, these aspects drive the growth of the market.

Threat

Challenges and lack of evidence

Despite what makers of beauty supplements promise, many products' efficacy and safety aren't always well supported by accurate scientific studies. Consumer disapproval and market expansion may be hampered by a lack of evidence that is convincing. Furthermore, with differing standards and laws in every nation, beauty supplements frequently fall into legal contradiction. Thus, manufacturers may have difficulties in terms of labeling, compliance, and making truthful statements regarding the advantages of the product.

Covid-19 Impact

The market for beauty supplements was negatively impacted by the COVID-19 outbreak. Lockdowns, unstable economic conditions, and interrupted supply chains caused consumer spending to decline, and the priority was to move away from luxuries like beauty supplements. Additionally, the popularity of beauty goods declined as a result of social isolation policies and a decline in social engagement, problems with production and delivery also reduced the availability of products and increased their cost. Furthermore, during the pandemic, consumers' attention and spending switched from beauty supplements to health and immunity. Thus, these factors hinder market growth.

The tablets segment is expected to be the largest during the forecast period

The tablets segment is estimated to hold the largest share, as they are oral beauty supplements come in the form of solid pills or tablets. The vitamins, minerals, antioxidants, and other compounds found in these pills frequently work to support stronger hair, skin, and nails. Moreover, they are well-liked since they are practical and simple to consume. Therefore, this market is a major participant in the larger beauty and wellness sector because it gives consumers a useful option to support their skincare and beauty goals with nutritional supplements.

The hair care segment is expected to have the highest CAGR during the forecast period

The hair care segment is anticipated to have highest CAGR during the forecast period. These dietary supplements often come in a variety of shapes, including capsules, gummies, or powders, and include a combination of vitamins, minerals, amino acids, and botanical extracts that work to improve the health, strength, and development of hair. Additionally, these solutions are frequently used by customers as a supplemental strategy to their hair care regimen when they are looking to address concerns like hair loss, thinning, or dullness. Therefore, in keeping with the general trends in the beauty and wellness industries, the segment offers to people looking for all-inclusive solutions to attain lustrous and vibrant hair.

Region with largest share

North America commanded the largest market share during the extrapolated period owing to the numerous established and emerging manufacturers diversifying their product lines within the ingestible beauty category, by which the market for beauty supplements in the United States has been growing steadily. Furthermore, , the growing popularity of the holistic health and wellness trend, rising female workforce participation, a rise in the number of women who want to age gracefully, digital marketing, product personalization, a variety of product form factors, and extensive branding are some of the key factors anticipated to propel the country's market growth.

Region with highest CAGR

Middle East & Africa is expected to witness highest CAGR over the projection period, owing to the ongoing change in health patterns among the residents of this region. Additionally, residents of this area have easier access to dietary and health-related information. The primary wellness concerns of women are addressed by this beauty supplement, which includes skin tone. Furthermore, consumer demand for beauty supplements in the region is being driven by rising health consciousness among the individuals, which is anticipated to support market expansion in the Middle East & Africa.

Key players in the market

Some of the key players in the Beauty Supplements Market include Amway, Asahi Group Holdings, Ltd., Bayer AG, Blackmores, Everest NeoCell LLC., Herbalife International of America Inc., HUM Nutrition Inc., Meiji Holdings Co., Ltd., Murad Europe Ltd., Pfizer Inc., Pharmavite LLC, Reserveage Nutrition, Suntory Holdings Limited, The Boots Company PLC and Vitabiotics Ltd.

Key Developments

In October 2023, HUM Nutrition launched its newest supplement, Best of Berberine, packed with 1200mg of pure Berberine. The 30-day supply of HUM's newest verified clean, vegan, and made with a clinically tested dose of berberine supplement offers a helpful boost for those interested in managing weight and healthy glucose levels.

In February 2023, ForGround by Bayer announced the addition of three new companies – Great Plains Ag, Sound Agriculture and EarthOptics – to its growing network of resources and expertise to help farmers be successful in adopting and implementing regenerative agriculture practices.

In September 2022, Bayer announced a groundbreaking regenerative farming collaboration with Perdue AgriBusiness aimed at large-scale carbon emission reductions and creating a model for a more sustainable food value chain spanning across Perdue’s entire grain network.

In January 2021, HUM Nutrition, the leader in the beauty vitamin and supplement category, launched its latest revolutionary product CALM SWEET CALM ™, a vegan gummy formulated with Ashwagandha root and L-theanine to reduce and control symptoms of stress.

Forms Covered
• Tablets
• Capsules
• Oils
• Powder
• Other Forms

Distribution Channels Covered
• Hypermarkets/Supermarkets
• Online Stores
• Medical Stores/Pharmacy
• Specialty Stores
• Other Distribution Channels

Applications Covered
• Hair Care
• Nail Care
• Skin Care
• Other Applications

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements