NEWARK, Del , Nov. 23, 2023 (GLOBE NEWSWIRE) -- The global beauty supplement market value is projected to increase from US$ 2,679 million in 2023 to US$ 4,456 million by 2033. Over the forecast period, sales of beauty supplements are set to soar with a compound annual growth rate (CAGR) of 13.6%.
Several factors are anticipated to drive growth of the beauty supplement market. These include growing focus on improving aesthetic appearance, rising interest in preventive healthcare, and development of novel products with natural ingredients.
Beauty supplements are becoming an ideal means of improving skin health and beauty. These supplements contain collagen, antioxidants, vitamins, and other bioactive substances that facilitate healthy growth of cells.
As individuals search for natural ways to enhance their physical appearance and become more health-conscious, the market for beauty supplements is expanding. Hence, a positive growth trajectory has been predicted for the target business.
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In tandem with this, there has been a notable surge in people's concerns with their physical appearance. Social media, beauty standards, and celebrity culture have made people more aware of their appearance and interested in maintaining and enhancing it.
Beauty supplements can be a convenient and non-invasive complement to regular skincare and haircare routines. They can help with problems such as brittle nails and hair loss.
The trend to look young, along with a rise in disposable income of consumers worldwide, is another prominent factor driving the beauty supplement industry. Further, growing awareness about the need for self-care is also contributing to increasing women's adoption of beauty supplements globally.
The present-day beauty supplement market has increased significantly due to enormous investments made in research and development to produce novel items. Customer preferences in beauty supplements have been profoundly impacted by the emergence of social media platforms and beauty influencers promoting radiance-boosting vitamins.
Key Takeaways from the Global Beauty Supplement Market Study Report:
- The global beauty supplement market is set to total US$ 4,456 million by 2033.
- Based on key ingredients, collagen segment is set to hold a value share of 16% in 2023.
- By form type, tablet segment is expected to account for 36% of the total revenue in 2023.
- The United States alone accounted for 26% of the global consumption of beauty supplements.
- Demand for beauty supplements in the United Kingdom is poised to grow 5.4% CAGR through 2033.
“Growing public awareness of the health benefits of beauty supplements is the primary factor driving the global beauty supplement industry. The likelihood of consumers using these supplements in their daily routines is rising as more studies and research highlight the advantageous effects of specific nutrients and chemicals on skin, hair, and overall physical attractiveness,” -says Nandini Roy Choudhury ( client Partner for Food and Beverages at Future Market Insights, Inc.)
Who is Winning?
To grow their market share, key firms are implementing collaborations, mergers, and acquisitions. They are also launching a number of innovations and diversifying their product lines to boost their sales.
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For instance,
- In 2021, HUM Nutrition, a multinational consumer products corporation, was acquired by Unilever.
What Does the Report Cover?
Future Market Insights (FMI) offers a unique perspective and actionable insights on the beauty supplement market in its latest study, presenting a historical demand assessment of 2018 to 2022 and projections for 2023 to 2033. The global beauty supplement market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The research study is based on form type (tablets, capsules, liquid, powder premixes, gummies or chewable, lozenges, other form types), key ingredients (collagen, biotin’, vitamins, minerals, hyaluronic acid, omega-3 fatty acids, antioxidants, amino acids, herbal extracts, pro and probiotics, other ingredients), functionality (skin care support, nail care support, hair care support, eye care support, other functionalities), sales channel (hypermarkets or supermarkets, specialty stores, drug stores and pharmacies, convenience stores, online retail channels, other sales channels), and region (North America, Latin America, Europe, East Asia, South Asia and Pacific, Middle East and Africa).
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Key Companies Profiled
- Nature’s Bounty Co., Ltd.
- Nature Made Co.
- OLLY Co., Ltd.
- Briogeo Inc.
- Ritual Inc.
- Persona Nutrition
- Garden of Life
- Nutrafol Inc.
- HUM Nutrition Inc.
- Neocell Inc.
- Swolverine
- Thome Co., Ltd.
- Pure Encapsulations
- Viviscal Inc.
- Nutricost Co., Ltd.
- Swisse Wellness PTY Ltd.
- NutraBlast Co., Ltd.
Beauty Supplement Market Outlook by Category
By Form Type:
- Tablets
- Capsules
- Liquid
- Powder Premixes
- Gummies or Chewable
- Lozenges
- Other Form Types
By Key Ingredients:
- Collagen
- Biotin’
- Vitamins
- Vitamin A
- Vitamin E
- Vitamin A
- Vitamin D
- Minerals
- Zinc
- Selenium
- Copper
- Others
- Hyaluronic Acid
- Omega-3 Fatty Acids
- Antioxidants
- Amino Acids
- Herbal Extracts
- Pro and Probiotics
- Other ingredients
By Functionality:
- Skin Care Support
- Nail Care Support
- Hair Care Support
- Eye Care Support
- Other Functionalities
By Sales Channel:
- Hypermarkets or Supermarkets
- Specialty Stores
- Drug Stores and Pharmacies
- Convenience Stores
- Online Retail Channels
- Other Sales Channels
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
About the Food and Beverages Division at Future Market Insights:
Future Market Insights facilitates corporates, government, investors, and associated audiences in the food and beverages sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here.
Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
Have a Look at Related Reports of Food and Beverage Domain:
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- The global dietary supplements market demand is likely to exceed US$ 163.66 billion by 2033. The dietary supplements market players can anticipate a compelling CAGR of 9.1% through 2033. This growth of the dietary supplements industry globally comes on the heels of the current market valuation of US$ 68.20 billion in 2023.
- North American Dietary supplements market trend are products that contain dietary ingredient used to add nutritional value to the supplements. Several people use dietary supplements to adopt healthier lifestyle. Dietary supplements basically add missing nutrients to our diet and to get sufficient overall nutrients.
- The probiotic supplements market growth is estimated to be valued at US$ 7,078.1 million in 2023. It is anticipated to reach US$ 23,977.9 million in 2033. The market is expected to grow at an impressive CAGR of 13.0% from 2023 to 2033.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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