Hair Growth Supplements Market Forecasts to 2030 – Global Analysis By Type (Single Ingredient, Multi-ingredient and Other Types), Form (Powder, Gummies & Soft Gels, Tablets, Capsules, Liquid and Other Forms), Distribution Channel (Hypermarkets/Supermarket

Hair Growth Supplements Market Forecasts to 2030 – Global Analysis By Type (Single Ingredient, Multi-ingredient and Other Types), Form (Powder, Gummies & Soft Gels, Tablets, Capsules, Liquid and Other Forms), Distribution Channel (Hypermarkets/Supermarkets, Specialty Stores, Online Pharmacies and Drug & Pharma Stores), Application and By Geography

According to Stratistics MRC, the Global Hair Growth Supplements Market is accounted for $760.53 million in 2023 and is expected to reach $2241.89 million by 2030 growing at a CAGR of 16.7% during the forecast period. Supplements for hair growth are food items that include different vitamins, minerals, and herbal ingredients to support and encourage healthy hair. With the goal of fortifying hair follicles and promoting growth, these supplements are frequently promoted as a solution to problems like hair thinning or loss. Even though they may help people with certain nutrient deficiencies, it's important to speak with a healthcare provider before taking them because not everyone will experience the same benefits and results from them.

According to the International Association of Trichologists, COVID-19 caused two major types of conditions, alopecia areata, and diffuse hair loss. Thus, it has created a robust demand for hair supplements during the pandemic.

Market Dynamics:

Driver:

Growing need for cosmetic and aesthetic interventions

Hair aesthetics are highly valued due to the constantly changing standards of beauty. Not only is hair considered a sign of good health, but it also serves as a medium for personal expression. As a way to attain the luscious, colorful hair that so many people desire, hair growth supplements have become more and more popular. Moreover, these supplements have become a sought-after remedy, supporting the market's growth as more people want hair that radiates vitality, luster, and fullness.

Restraint:

Insufficient scientific data

The market for hair growth supplements is significantly constrained by the paucity of scientific data demonstrating the products' efficacy. While some ingredients, like collagen and biotin, have shown promise in supporting hair health, many other claims lack strong clinical evidence. Additionally, customers may become skeptical as a result of this lack of solid scientific evidence, which could impede market expansion.

Opportunity:

Growing awareness among consumers

There is a significant opportunity due to the growing emphasis on hair health and beauty brought about by social media and digital platforms. Customers are actively looking for answers to hair-related issues, which has created a market that is open to hair growth supplements. Furthermore, manufacturers can take advantage of this by offering consumers instructional materials that explain the importance of diet for healthy hair and the ways in which particular supplements can support this.

Threat:

Insufficient scientific confirmation

A serious risk is the lack of solid scientific proof for many supplements that promote hair growth. The reputation of an industry can be negatively impacted by products that do not have sufficient scientific evidence to back up their claims, as consumers are becoming more discriminating. Moreover, manufacturers need to fund clinical research and provide clear results reporting in order to counter this threat.

Covid-19 Impact:

The market for hair growth supplements was impacted by the COVID-19 pandemic in many ways. There was a brief setback at first as supply chains were disrupted and consumer spending was lowered as a result of lockdowns and economic uncertainty. However, as consumers looked for solutions for hair health during the pandemic and as stress-related hair issues increased, the market eventually recovered, elevating the prominence of online sales channels. All things considered, the pandemic demonstrated the industry's tenacity and flexibility in handling difficult market circumstances.

The Multi-ingredient segment is expected to be the largest during the forecast period

In the market for hair growth supplements, the segment with multiple ingredients has the largest share. Typically, multi-ingredient supplements contain a range of vitamins, minerals, and other substances that are known to promote the general health of hair. Moreover, customers looking for all-inclusive solutions that address the different factors influencing hair growth, such as nutritional deficiencies, hair strength, and scalp health, are what are driving this segment's popularity. Because it is convenient and seen as a comprehensive approach to enhancing hair quality, the market is dominated by products that combine multiple ingredients.

The Gummies & Soft Gels segment is expected to have the highest CAGR during the forecast period

The market for hair growth supplements is expected to grow at the highest CAGR in the gummies and soft gels segment. Several factors contribute to this growth. First of all, compared to conventional pills, these forms are more enjoyable and palatable, which appeals to a wider range of customers, including kids and people who might have trouble swallowing pills or capsules. Second, the ease of integration of gummies and soft gels into regular hair care regimens is frequently linked to their convenience, which contributes to their growing popularity. Additionally, the market has also seen a boom in the creation of novel and delicious formulations, such as flavors and shapes, which have helped to fuel the segment's impressive expansion.

Region with largest share:

In the global market for hair growth supplements, the Asia-Pacific region is projected to hold the largest market share. The large and diverse population in the area, where the value of good hair health and appearance is engrained in cultural norms, is what is driving this growth. The demand for hair care products, including supplements, has increased in countries like China, Japan, and India due to rapid urbanization, a growing middle class, and rising disposable income levels. It is also one of the fastest-growing segments of the global market for hair growth supplements. Furthermore, these factors, along with the influence of social media and the rising awareness of Western grooming standards, have supported the market's expansion in the Asia-Pacific region.

Region with highest CAGR:

In the global market for hair growth supplements, the European region is projected to have the highest CAGR. Europe's consumer interest in hair health and beauty has increased, particularly in the UK, Germany, and France. Numerous factors, such as a well-established beauty and personal care industry, an aging population, and growing awareness of the effects of stress and lifestyle choices on hair, are responsible for this growth. As a solution to these issues, European consumers are turning to hair growth supplements, which has helped the region's market share rise significantly worldwide. Moreover, the European market for hair growth supplements has also expanded as a result of the emergence of e-commerce and the accessibility of a large variety of goods.

Key players in the market

Some of the key players in Hair Growth Supplements market include Nutraceutical Wellness Inc. (Unilever), Eu Natural, OUAI Haircare, Viva Naturals, HUM Nutrition, GNC Holdings, Inc. (Harbin Pharmaceutical Group), Viviscal Limited, Nature's Bounty, Keranique, Brock Beauty, Arkopharma, Codeage LLC, SugarBearHair, Natrol and Amway.

Key Developments:

In December 2022, OUAI, the award winning hair care and lifestyle brand founded by Jen Atkin, announces the launch of Anti-Dandruff Shampoo, the brand’s first product offering containing an FDA approved ingredient, 2% salicylic acid. The gentle formula works to reduce flaking, itching, and irritation associated with dandruff that leaves hair feeling clean and soft, while also smelling good.

In May 2022, Unilever announced today that it has signed an agreement to acquire a majority stake in Nutrafol, a leading provider of hair wellness products. Unilever currently holds a minority stake (13.2%) in Nutrafol through Unilever Ventures.

In September 2020, GNC Holdings Inc., the Pittsburgh-based international health and wellness chain, has been for sold for $770 million to a Chinese pharmaceutical firm in a deal approved Thursday in bankruptcy court in Delaware. Harbin Pharmaceutical Group Holding Co., an affiliate of GNC’s largest shareholder that owns 40% of the company, also agreed to assume GNC’s liabilities.

Types Covered:
• Single Ingredient
• Multi-ingredient
• Other Types

Forms Covered:
• Powder
• Gummies & Soft Gels
• Tablets
• Capsules
• Liquid
• Other Forms

Distribution Channels Covered:
• Hypermarkets/Supermarkets
• Specialty Stores
• Online Pharmacies
• Drug & Pharma Stores

Applications Covered:
• Dry Hair
• Oily Hair
• Normal Hair
• 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

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances