May 22, 2024
Beauty Supplements Market

Beauty Supplements Market Is Estimated To Witness High Growth Owing To Increasing Adoption Of Natural And Organic Ingredients

Beauty supplements are nutritional supplements that are consumed to enhance or maintain beauty and outer appearance. The major active ingredients found in beauty supplements include vitamins, minerals, collagen, Omega-3 fatty acids, and probiotics. Beauty supplements offer numerous health and beauty benefits such as wrinkle reduction, hair growth, anti-aging, metabolism boost, acne treatment, and glowing skin. They are available in various forms such as tablets, capsules, softgels, powder, and liquid. The growing demand for multifunctional and organic beauty products is contributing to the rising popularity of beauty supplements across the globe.

The Global Beauty Supplements Market is estimated to be valued at US$ 3252.27 Bn in 2024 and is expected to exhibit a CAGR of 8.8% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the Beauty Supplements are Presto Geosystems, Polymer Group Inc., Strata Systems Inc., Armtec Infrastructure Inc., Maccaferri SPA, PRS Mediterranean Ltd., Maccaferri SPA, and Tensar International Ltd. These leading players are focusing on new product launches, collaborations, and geographical expansion to meet the growing demand for beauty supplements.

Key opportunities in the market include rising export potential of beauty supplements to countries where consumer preference is shifting towards natural beauty products. The growing availability of beauty supplements online through e-commerce platforms is another major opportunity.

Increasing adoption of natural and organic ingredients such as green tea, CBD, hyaluronic acid, coenzyme Q10, and resveratrol in beauty supplements owing to their anti-aging and skin rejuvenating properties is driving the market growth.

Market drivers
Growing health and wellness trends among consumers across the globe: The increasing consumer awareness about the benefits of consuming dietary supplements and functional foods for overall health and beauty is a major factor fuelling the demand for beauty supplements. The shifting consumer preference towards preventive healthcare approach and proactive measures for skincare and haircare is expected to boost the market growth during the forecast period.

Rising geriatric population: The increasing aging population worldwide, coupled with the growing demand for anti-aging solutions is positively impacting the sales of beauty supplements. Elderly consumers are more inclined towards consuming beauty supplements and cosmetic products that help delay the signs of aging and maintain youthful appearances.

Current Challenges in Beauty Supplements Market:

The Beauty Supplements Market Growth has been witnessing moderate growth in the past few years owing to growing trend of beauty from within. However, there are certain challenges, which are hampering the market growth. Lack of awareness regarding benefits of beauty supplements is one of the major challenge. People are not aware that supplements can also help in improving appearance. Secondly, perception that these supplements can replace basic skincare routine is limiting the market growth. Moreover, presence of substitute products like cosmetics, which provide instant results are a challenge for long-term supplements. Pricing of some high-quality supplements is also a constraint in wider acceptance. Standardization and quality checks and regulations on manufacturing is still needed in many regions to gain customer trust.

SWOT Analysis

Strength: Growing health and wellness trend is driving demand for supplements. Product innovation with added benefits is a strength.
Weakness: Lack of awareness and perception issues remain major weaknesses.
Opportunity: Untapped markets especially in developing countries provide major growth opportunities.
Threats: Alternatives providing quicker fixes pose threat to regular usage of supplements. Stringent regulations can also threaten smaller players.

Geographical Regions

North America region currently dominates the beauty supplements market in terms of value owing to higher consumer spending and awareness levels regarding benefits. United States holds leading market share. Europe is the second largest market led by countries like Germany, United Kingdom and France. Increasing prominence of beauty from within trend is driving sales of supplements across both developed regions.

Asia Pacific region is expected to witness fastest growth during forecast period in beauty supplements market. Rapidly growing middle class population with increased disposable income especially in countries like China, India is fueling market expansion. Widespread promotions by global players and growing health consciousness will support market value rise across Asia Pacific region between 2024-2030.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it